CICF's Ben Franklin Funds Promotional Explainer
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you've probably heard of Ben Franklin discovered electricity founded America's first volunteer fire department, invented by folk ALS and the Franklin Stove. You get the idea he was a busy guy, but he was also quite the innovative philanthropist, one whose approach we still used today. Just before his death in 17 90 he gave £1000 each to the cities of Boston and Philadelphia. Then he made them promise not to touch it. For 200 years, Franklin wanted the money placed in separate funds that would grow from accrued interest. It worked so well that by 1970 the Boston fund was with more than $5 million in Philadelphia's was 2.5 million. How? It's simple, Mac. Well, the concept itself simple. Your initial investment earns interest when you add the interest back into your original investment, it adds up and earns even mawr interest. And if you don't touch it, it won't stop growing. That's why to celebrate the Indianapolis Foundation Centennial year, we're launching a Ben Franklin fund for Marion County. If 1000 people donate $100 each, we anticipate the fund will be birth $100 million by 2116 and every year after it would provide $5 million in grants to the community. That's how compound interest works. That's how our endowments work. Community. We've become started taking shape a century ago. Community will be in 100 years. Starts with you. Visit be in 2016 dot org's to learn about how your $100 gift can insure Central Indiana continues to thrive 100 years from now you