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Porter County Foundation approves roughly $8.9 million distribution, moves earnings into 2025 budget
Summary
The Porter County Foundation voted to transfer foundation earnings into its 2025 budget after approving a one-year 5% distribution based on a five‑year rolling average, a move that yields about $8.9 million and follows a temporary change from the prior 3.25% policy.
The Porter County Government Charitable Non For Profit Foundation, Inc., voted to transfer foundation earnings into its 2025 budget and to apply a one‑year 5 percent distribution, producing roughly $8.9 million available for the 2025 budget year.
Councilman Stone introduced the foundation's distribution analysis, saying the foundation had previously followed strict statutory rules that allowed up to a 5 percent payout based on a single year-end market value. Stone said legislation in June 2021 allowed the foundation to adopt a best-practices approach and the board adopted a 3.25…
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