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A donor and dear friend of the DeKalb County Community Foundation…
Sally Stevens is a Huskie through and through! Having worked for Northern Illinois University as Secretary to the President from 1964-1996, NIU students have a special place in her heart. She invested early on in the successful futures of NIU students by creating a scholarship fund years ago to benefit university students and is part of the Cornerstone Society.
As a childhood playmate of Mary Roberts, Sally had a great deal of affection and respect for the Roberts family. She watched with great interest as the Community Foundation was created and started providing grants throughout DeKalb County in a variety of interest areas. Sally knew the importance of a connection between a strong University and a strong Community.
In 2004, Sally took a bold step to ensure that DeKalb County’s quality of life would continue to be enhanced by taking out an insurance policy for $1 million to benefit the Community Foundation. The annual premium is tax deductible! The Sally Stevens Community Fund will be an undesignated fund, in which the annual payout will be used by the Foundation Board to meet on-going needs in the areas of arts & culture, education, environment & animal welfare, community development, and health & human services. The trust and familiarity of the board members of the foundation helped make it an easy decision, knowing that they will be good stewards of her gift.
The power of endowment is that these funds grow through investment while distributing a portion of their value in grants every year. They meet today’s needs and help sustain the quality of life of our community’s future. A $1 million endowment fund will distribute approximately $45,000 in grants every year. Assuming certain financial conditions, in 25 years that $1 million gift will have a market value of $2,033,000, will distribute annual grants of $94,000, and will have granted a total of $1,458,371 in grants. And the fund will continue in perpetuity, in Sally’s name, to benefit future generations of DeKalb County residents, including many Huskies!
There is Strength Through Partnership!