EVANSVILLE — Grants totaling nearly $427,000 were presented to 22 organizations Wednesday from the City of Evansville Endowment Fund.

The CEEF mission is to assist nonprofit charitable organizations in Evansville.

It originated in 1994, when former Mayor Frank McDonald II proposed that $5 million in casino revenue be invested in a way that would serve the city forever.

After a study of investment options, in 1998 the revenue was used to establish the endowment fund. CEEF was created as a public charity and supporting organization of the Community Foundation Alliance, Inc. The CEEF’s earnings allow for grant-making annually.

“The City of Evansville Endowment Fund grants let these groups focus on serving people – the funds really help to solve problems for the organizations, so they can do the important work they do every day in our Evansville community,” said Jerome Stewart, president of the CEEF board. “The board is grateful to be able to give to so many.”

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