Polish-American Cultural Center in Honor of John Paul II has reached yet another milestone; in May 2009 Polish-American Cultural Center (PACC) established an organizational endowment fund at the Cleveland Foundation. The foundation want to thank the board of directors of PACC for the trust you have placed in the foundation.
So what does this mean to PACC and its supporters? An endowment fund is a fund set aside to generate income as well as for long-term use for the not-for-profit organization. Having a strong and stable endowment fund is a sign that an organization is fiscally responsible and prepared for whatever the future may hold. It can also ensure that the mission of an organization can continue in perpetuity if needed.