So how does it all work?
You can think of it like a bank account. Generous people in our community give donations to COFFY, and then we put them into our endowment fund (our bank account). The money is then invested. Three times a year, we take the interest on the capital (the original donation), and give it back to the youth community. We do this, under the supervision of COF, in the form of grants. Grants are monetary gifts that never need to be paid back!
The cool thing about granting is that the original donation is never touched! So that means, 50 years from now, COFFY will still be able to make grants!
The Grants Application for 2012 is due Friday March 23, 2012 at 4:00pm! |
