With the recent coronavirus pandemic shuttering operations throughout the country, as well as, forcing the cancellation of classes, events and social gatherings much remains uncertain as to how these organizations, especially those in the nonprofit sector, will recover.
During its April meeting, the Chautauqua Region Community Foundation’s Board of Directors approved the creation of The Future Fund.
According to Tory Irgang, CRCF executive director, this fund is a permanent endowment that will provide financial support to organizations during future natural disasters, community tragedies or health-related crises.
“The Chautauqua County Crisis Response Fund: COVID-19 came together quickly and is an unprecedented collaboration among funders,” stated Ms. Irgang. “It was during that process that we recognized the need for The Future Fund. We are fortunate that dollars form our Fund for the Region were available to support the Crisis Response Fund. We want to be certain that there will always be funding available to meet the needs of our community during unforeseen circumstances like natural disasters or crisis events.”
A provision in the CARES Act offers individuals who do not itemize their income taxes, the opportunity to receive an above-the-line $300 charitable income tax deduction for 2020.