JLC Legacy Foundation

 

Purpose: The JLC Legacy Foundation was established to ensure the long-term financial sustainability of the Junior League of Charlotte, Inc (JLC) while still supporting annual financial needs aligned to the JLC’s mission. The JLC Legacy Foundation is a critical part of the JLC’s ability to sustain financial giving to community and special program needs outside of the annual operating budget, as well as support the JLC in case of financial emergency.

Oversight and Financial Governance: Active members and sustainer trustees are appointed to sit on the Foundation Board and have a critical role in managing the health of current endowment funds, as well as ensuring the long-term strategy and growth of these dollars to support the JLC.

Income Disbursement: After the Finance Committee makes a recommendation, the Board will review and make a request for funds from the Foundation. The Foundation’s board will approve to use a portion of these funds on an annual basis. These funds are used for a variety of projects and needs designed to sustain or grow the League’s mission and reach to the community. Distributions by financial year:

2018/2019 – $31,565

2017/2018 – $36,850

2016/2017 – $53,429

Examples: supplement for project dollars for community partners, send people to AJLI training events and conferences, maintaining and enhancing building – physical and technology,

Investment Strategy: The fund is invested across a variety of securities in a conservative manner.

2017 Form 990 – Foundation

Make a Gift: If you are interested in supporting the JLC Legacy Foundation through a planned gift (or have already planned to do so), please click here. You can also email giving@jlcharlotte.org.

History: The Community Endowment Campaign of 2001 was established to raise initial funds for the endowment, a separate pool of JLC funds invested for long-term growth.

The formal JLC Legacy Foundation was established in 2007, along with a dedicated Board of Directors, to manage the investment and growth of the JLC endowment, including the funds collected from the 2001 Campaign. In 2010, the JLC Legacy Foundation launched a Planned Giving Campaign to enable members to continue to support the long-term impact and sustainability of the JLC through the contribution of estate gifts.

As of fiscal year, 2018-2019, over $373,000 has been distributed from the Foundation to supplement community annual project dollars and support special financial needs of the Junior League of Charlotte.