Your opportunity to make a difference in our community!
What is the Hobson Community Endowment Fund?
In 1997, First National Bank of Lewistown gave $1,000 to area communities with the additional pledge to match the first $1,000 that was raised by the community. This money provided the seed money for the Hobson Endowment Fund and is kept as a separate portion of the Central Montana Foundation and managed accordingly by the Hobson Endowment Board.
The Central Montana Foundation normally provides $3,000 to the Hobson Community Endowment Board to award to various local organizations that apply and qualify. This annual amount is subject to approval by the Central Montana Foundation Board. This amount could increase if our permanent fund becomes large enough.
Who manages the funds?
The Central Montana Foundation acts as the fund’s administrator. They keep records, manage the money and supply expertise to insure that the fund complies with all State and Federal guidelines. The Foundation also supplies guidance and assistance to the Hobson Endowment Board.
Who can apply for funds?
Any group or organization with a project that needs funding assistance. The major areas of interest are projects that meet community needs in relation to education, health, general economic improvement and enhance quality of life. Grants to individuals or political organizations are prohibited.
How to apply for funds?
To apply for funds distributed by the Hobson Endowment Board, simply complete and return an application form. Applications are due by May 1 and September 1 of each year. The board meets twice a year to review applications and allocate funds. The forms are available from Hobson Endowment Fund Board members or at the Hobson Library.
When is the money distributed?
The money is distributed as soon as possible after approval of funding request by the Hobson Endowment Board. Oversight is provided by the Central Montana Foundation to provide information for an annual report.
Why give to the endowment fund?
The Hobson Endowment can be a dependable, safe, reliable option to protect your estate. Giving to the Hobson Endowment will also ensure that the money you have worked so hard for will continue to serve the community in a manner that you see fit.
Your gift will mean so much to future generations that want to make Hobson their home. You CAN make an impact on the future. You CAN make a big difference.
Contact your attorney or accountant to find out how planned charitable giving can be a valuable portion of your estate planning.
How does it work?
The Hobson Endowment accepts gifts of money, stock, bonds, land, personal property and other assets. Land and personal property must be available to be converted to cash.
Gifts to the Hobson Endowment can be restrictive if a person or estate desires. This means they can be designated for a specific project or purpose and must be used in that manner.
Gifts may also be unrestrictive, in which case they become part of the permanent Hobson Endowment Fund. The income derived from the permanent fund is directly used to benefit the Hobson Community.
In all cases, gifts to the Endowment receive significant tax benefits which can be very important for an individual or an estate.
For Your Consideration
Several additional projects to enhance the quality of life in the Hobson area will be accomplished as our permanent Endowment funds grow. Please consider selecting the Hobson Endowment fund when preparing your will or making memorial donations.
Checks should be made payable to the Hobson Endowment Fund and mailed to:
P.O. Box 433
Hobson, MT 59452
Hobson Endowment Fund Board members
Willard Hesselbart, President
Please feel free to contact any of the above Board members if you have questions regarding the Hobson Community Endowment Fund.