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Tamarac to consider $50,000 endowment with Broward County Community Foundation
Summary
Staff presented a resolution to establish a $50,000 seed endowment with the Broward County Community Foundation; staff said the city would pay $25,000 in December and $25,000 in 2026 and that up to 5% of the donation could fund local initiatives.
Tamarac — City staff presented a resolution at the May 27 staff agenda review proposing that Tamarac establish a $50,000 endowment with the Broward County Community Foundation as seed money to support local initiatives, including scholarships.
"Essentially, it's the city participating with the Community Foundation of Broward," said Maxine, describing the partnership and noting that two other cities — Lauderhill and Oakland Park — have joined the effort. She said the arrangement calls for $50,000 in seed funding, to be paid as $25,000 by December and $25,000 in 2026.
Maxine said the endowment funds would be invested and could grow over time; the foundation would allow the city to support community initiatives through the endowment and staff said up to 5% of the city’s donation would be available for those initiatives.
Jonathan Allen, identified in the staff review as the chairperson of the foundation, was scheduled to present a fuller briefing to the commission at the May 28 meeting.
The staff review presented the resolution as a partnership and seed investment; formal action is scheduled for the commission meeting and was not taken at the staff review.
