STEP Establishes Endowment Fund with FCFP

December 01, 2016

STEP Endowment Fund
The First Community Foundation Partnership of Pennsylvania (FCFP) is pleased to announce the creation of the STEP Endowment Fund, with an initial gift of $40,000.  The Lycoming-Clinton Counites Commission for Community Action (STEP) created the fund as a permanent funding source in which a portion of the fund’s investment income is granted back to STEP in support of their programs and projects while the fund’s principal is protected for future charitable interest.
Jennifer D. Wilson, FCFP President & CEO stated, "The Foundation is proud to partner with STEP to create a permanent funding source for the future.  The creation of this fund demonstrates the financial integrity of STEP and FCFP is honored to serve as stewards of their endowment."
STEP’s mission since their founding in 1966, is to engage diverse individuals, families and communities in the pursuit of social and economic success.  The STEP acronym stands for Success Through Engagement and Partnership.  They are one of approximately 1,000 Community Action Agencies nationwide; and is the 4th largest of the 43 in Pennsylvania.
"We are excited in our 50th anniversary to be partnering with the Foundation in the establishment of a permanent endowment." said Jim Plankenhorn, President & CEO of STEP.  "It is critical that we look to our future and continue to build funds for all of our programs and projects.  We can only provide the flexibility that our communities need by creating permanent sources of income."
Anyone wishing to create a fund to support their favorite nonprofit organization in perpetuity may do so by contacting the Community Foundation at 570-321-1500.
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