- Associated Press - Thursday, October 16, 2014

ELKHART, Ind. (AP) - A late businessman’s $150 million bequest to his northern Indiana hometown has become the gift that keeps on giving.

The Elkhart County Community Foundation announced Thursday it will receive a $1.5 million matching grant from the Indianapolis-based Lilly Endowment that will allowing it to help three nonprofits and offer additional operating assistance to other charitable groups.

The Elkhart Truth reports (https://bit.ly/1rAZwdA ) the terms of the grant call on the foundation and the nonprofits to produce $2.25 million in matching funds.

The foundation’s Fund for Elkhart County received a posthumous gift of $150 million from Guy David Gundlach in 2012. Before the gift, the fund distributed about $500,000 per year. Distributions are expected to grow to $4.5 million for the 2014-2015 fiscal year.

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