The Community Foundation of Grundy County (CFGC) is excited to announce that the Jim & Carol Baum Estate has settled and that nearly $4 million has come to CFGC for grantmaking throughout Grundy County!
Five specific charities and uses for the money are named in the estate: Morris Community High School, Morris Area Public Library District, Morris Hospital Foundation, United Way of Grundy County, and Community Foundation of Grundy County. In addition, two field of interest funds were created to award grants in the following topics: mental health for youth, families, and elderly throughout Grundy County; people in need throughout Grundy County; City of Morris community planning; Morris area performing arts; and tree planting in public areas around Morris. All named nonprofits have been notified of this generous gift.
All but one of the funds is endowed, meaning that 4% of each fund will be available annually…forever…for grantmaking. Each January, the named nonprofits will receive a report of their 4% endowment draw amount. Then each nonprofit can submit a request to CFGC’s Grants & Program Committee, and then grant requests are forwarded to the CFGC Board of Trustees for final approval.
Any unused grant funds from that year will be rolled back into the principle of that fund.
All together, approximately $140,000 will be awarded in grants each year courtesy of Jim & Carol Baum’s permanent generosity.
In addition to the estate gifts via CFGC, other nonprofits received outright gifts from the Baum estate. Please join us in congratulating all of the nonprofits who were remembered in Jim & Carol’s estate!
Jim Baum was a 3rd generation retailer, running Baum’s department store started by his grandfather in the 1800s. Together, Jim & Carol were deeply involved in Morris organizations and charitable endeavors since the 1960s.
Jim served on the Board of Directors of Grundy Bank, Morris Hospital, Morris Downtown Development Partnership, MCHS District #101 Board of Education, Grundy County Chamber of Commerce, First Presbyterian Church Morris, and was founder of the Community Foundation of Grundy County. Jim also served on a number of state and national retail association boards where he and Carol won numerous awards. Carol also served on boards and committees at First Presbyterian Church Morris and was active in the Alida C. Bliss Chapter of the Daughters of the American Revolution. Both Jim & Carol died in 2023 at their retirement home in New Hampshire – Jim in April and Carol in September.
To learn how you and your family can design funds at the Community Foundation of Grundy County, whether during your lifetime or as part of your estate, please contact us at 815-941-0852 or read about our donor services at https://cfgrundycounty.com/philanthropists/
