Community Savings Accounts Success: Philip

Community Savings Accounts (CSA) are enhancing the quality of life in 72 communities across South Dakota. The endowment funds are part of the South Dakota Community Foundation but are led by a local board of directors who raise and distribute funds. The CSA concept has taken root and grown very quickly in the community of Philip. And it all started with a conversation over coffee between Beth Massa, SDCF’s West River Development and Program Director, and DeMaris Nesheim.

It’s been years since Nesheim had a Philip address, but her connection to her hometown remained strong since she moved away in 1963. She followed Philip news for years and appreciated the improvements and investment residents have made to keep the community thriving. Recently, Nesheim decided to put into practice something she learned in a Philip Sunday School room years ago –everything I have is a gift from God, and it is my job to share that gift with others.

As a result, Nesheim committed $100,000 to start a Community Savings Account in Philip if the community could match her donation. A board assembled and the Philip Area Community Foundation began. The board started fundraising in the community, and only a few weeks later, the goal was met. The South Dakota Community Foundation contributed $50,000 as part of a matching challenge grant. On March 5, a group of 150

DeMaris Paulson Nesheim (left) is pictured with SDCF West River Development and Program Director Beth Massa. Nesheim issued a $100,000 matching challenge to kickstart the Philip Area Community Foundation.

Pictured receiving the $100,000 challenge grant check to start the Philip Area Foundation are (left to right): Ray Smith, President, First National Bank Philip (FNB Philip); Jerry Kroetch, Owner, Scotchman Industries; Brittany Smith, Deputy Finance Officer, City of Philip; Dillon Kjerstad, Loan Officer, FNB Philip; Britni Ross, Business Manager, Philip Schools; DeMaris Paulson Nesheim; Roger Porch, Vice President, FNB Philip; and Jerry Rislov, Scotchman Industries.

community members celebrated exceeding their goal at the American Legion Hall in Philip. The Philip Area Community Foundation has existed for nine months and 23 donors have answered Nesheim’s call to support Philip with $324,680.

“It is truly astonishing what a community can accomplish when one person steps forward with a vision, puts skin in the game and encourages others to join,” says Massa. “DeMaris is a caring and motivated individual who wants her hometown to thrive for years to come. Less than a year ago this CSA didn’t even exist, and now, it’s on the way to distributing approximately $13,000 to area nonprofits annually going forward.”

Funds from the Philip Area Community Foundation are being invested and managed by the SDCF. A percentage of the fund’s earnings will be available for distribution to local nonprofits starting in 2017. The group decided to keep $10,000 aside from the endowment funds to start giving back right away. The Lake Waggoner campground will receive $7,400 for eight additional campsites with electrical hook-ups, doubling the campground’s size. The Bad River Sportmen’s Club will receive $1,550 to go toward metal targets to improve its public ranges.

There is no sign of Philip slowing down its fundraising efforts. Ray Smith, president elect of the Philip Area Community Foundation, encouraged supporters at the celebration dinner to keep giving back.

“There is always next year, and the advantage with this fund is there will always be a next year,” said Smith. “This is not about the end of a fundraiser, but continuing to grow this foundation. If you know someone who has the same feelings as you about helping your community, tell them, and donate.”

We look forward to witnessing Philip’s bright future.

Reprinted with permission from the South Dakota Community Foundation.