Last week, the IAA Foundation received the first charitable distributions from 1st Farm Credit Services' Donor Advised Fund. This recently established fund ensures a long-term financial commitment from the cooperative to support programs dedicated to agriculture education, youth and leadership.
A total of $75,000 was distributed to the following organizations:
- University of Illinois: for education through the Department of Agriculture
- Illinois State University: for education through the Department of Agriculture
- Western Illinois University: for education through the Department of Agriculture
- Illinois Agriculture in the Classroom: for enhancing student & teacher ag literacy
- Illinois Ag Leadership Foundation: for leadership development
- Illinois FFA: for education and leadership development
- Illinois 4-H: for education and leadership development
- AgrAbility Unlimited: for farm safety education and accessibility assistance
- Cook County Farm Bureau Foundation: for engaging urban youth in ag education experiences
The first year recipients were honored at a ceremony today with representatives from the IAA Foundation and 1st Farm Credit Services.
"Making the first donations from our donor advised fund shows our commitment to Illinois agriculture," says 1st Farm Credit Services President/CEO Gary J. Ash. "Seeing these first dollars going to groups that promote agriculture education, youth and leadership confirms that our $1 million gift will benefit current and future generations of Illinois farmers."
In December 2010, 1st Farm Credit Services established a Donor Advised Fund through the IAA Foundation with an initial investment of $ 1 million to be distributed over a number of years into the future. The donation is the single largest contribution to the IAA Foundation and helped establish its largest Donor Advised Fund managed through Country Trust Bank.
"This donation will not only help support agriculture today, but well into the future," said Susan Moore, director of the IAA Foundation.