June 26, 2011 | Read Time: 1 minute
How much: $20-million to be provided after the donors die
Who gave it: Paul and Donna (Muffy) Christen. Mr. Christen is former chief executive officer of First Western Bankcorp, in Huron, S.D. The Christens sold First Western Agency, an insurance company in Hot Springs, S.D., and led the Christen Group, a holding company, in Huron.
Who got it: The South Dakota Community Foundation
What the gift will support: The donors earmarked $12.5-million to encourage charities to start endowments and to match the dollars local charities put into endowments at the foundation. The Christens, along with their two daughters, will select which charities will be eligible to get matched funds. And $5-million more will match donations the community fund itself raises so it can make grants to causes deemed worthy. The remainder will permanently endow the foundation’s Community Savings Account program, which matches money raised by smaller local community funds.
How the gift came about: The community foundation presented a proposal to the donors 18 months ago, and they agreed to all the foundation’s suggestions.
For details about other new gifts, including $40-million to a new public hospital in central Indiana, go to http://philanthropy.com/topdonors. Send gift news to gifts@philanthropy.com.
