The Future Fund Meets it's Goal
Bobbie Heisterkamp | Published on 1/26/2023
The Future Fund Meets its Goal
Several years ago, Marge Fisch had a brainstorm and brought her idea to the League of Women Voters of Denver Board. To have the resources that the League needed each year to operate more securely, the Board would solicit donations towards a fund, called the Future Fund, similar to a fund the Colorado League had established, and leave the money in an interest-bearing account until it reached $100,000. (There was an emergency clause that the League might “borrow” up to 10% of the principal any year they had a budget deficit. However, the League never activated that clause.)
Many generous League members stepped up, including Marge, and the Future Fund grew to $91,000 a few years ago. In December of 2022, we had a restricted donation from Mary Lohre, an estate donation from Josephine Carpenter, and an estate donation from Vivian Dodds. The board voted to take some of the unrestricted new money and complete the Future Fund to a total of $100,000.
As Treasurer, I moved that we put the full amount into two Certificates of Deposit, and the motion was approved unanimously. With the recent rise in interest rates to 4% for CDs, and with the stock market fluctuating a great deal, the Board wanted to be prudent with the principal. In the future, during budget planning, the Board may take all of the interest earned out of the CDs and use it as operating income, or it may keep the interest in the CDs to continue growing.
We thank every member who contributed to the fund over the years. You have given the League a sustainable source of income should it ever be needed and a secure future.
Bobbie Heisterkamp, Treasurer