Alpha Psi Chapter of Psi Iota Xi Establishes New Donor-advised Fund

The Alpha Psi Chapter of Psi Iota Xi is a local network of friends dedicated to helping others with time, money, and love, and meeting needs whether cultural, educational, social, or financial. Music, art, literature, literacy, and speech and hearing have been their focus, and their hallmark work is supporting the speech and hearing department at Daviess Community Hospital.

The group has received regular support from a Community Foundation endowment fund established in 1995 by deceased member, Dorothy Myers. The designated fund provides annual grants to support the charitable work of the group and is set up to do so forever.

Impressed and grateful for the endowment fund established by Myers, the Psi Iota Xi women started thinking about how they too could award grants to other charitable organizations in the community. Supporting a broad range of charitable needs, even broader than the guidelines of their sorority charter, was important to them. They also wanted to take an active role in the grant-making process every year.

After consultation with the Daviess County Community Foundation, the group established a new donor-advised fund. The fund is set up so the local Psi Iota Xi chapter stays involved in the giving experience by suggesting grant awards from the fund. With the group’s broad range of community interests, it’s an ideal vehicle for them to fulfill their charitable interests both now and for generations to come.

For Daviess County Community Foundation Board member, Elaine Wellman, an alumna of the Psi Iota Xi group, the partnership holds a special place in her heart. So much so that Wellman used Facebook to challenge members to contribute to the fund during the Lilly GIFT VI match. “With the 1-2 match during the period through March 31, 2016, it’s a great time to build a brand new fund.”

The Daviess County Community Foundation is pleased to partner with Psi Iota Xi to fulfill their charitable wishes. For more information about a donor-advised fund, contact mary@daviesscommunityfoundation.org