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What is a Community Foundation?

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  • 1. For good. For ever. SM
  • 2. Brett Bergstrom passed away in 1993 at the age of 20…. But his love for the environment and Habitat for Humanity live on through the fund his father created in his memory with the Community Foundation!
  • 3. Bud Nichols was a teacher in the Cedar Falls school district. He was diagnosed with pancreatic cancer in March 2002 and died on November 11th that year… The Nichols family established a scholarship fund with the Community Foundation so his memory will continue to live on with the experiences his fund helps provide for students.
  • 4. Lowell J. Walker wanted to better his community and leave an impact long after his death… Through detailed estate planning, Lowell started a fund benefiting youth causes, donated a building to his favorite charity, and created a fund to support upkeep of that building so it would never be a financial burden.
  • 5. what is a community foundation? is a community foundation?
  • 6. Our Mission • Respond to the current and future charitable needs of the Greater Northeast Iowa Area. • Secure and serve as the custodian of endowment funds contributed by many donors. • Create other mechanisms which will channel charitable money, goods and services to meet community needs.
  • 7. The Community Foundation of Northeast Iowa has three distinct features.
  • 8. one permanent endowment
  • 9. feature one Permanent Endowment § Invest and protect principal § Distribute earnings via grants § Build permanent community capital § Create donor legacies George and Hallene are still making a difference- You can too- for good… for ever!
  • 10. two broad flexible purpose
  • 11. feature two Broad, Flexible Purpose › Support high-impact opportunities › Bring organizations into existence › Redirect funds as appropriate › Monitor all community needs… Arts and Culture Health Economic Development Human Services Education Historic Preservation Environment Neighborhoods Making a real impact on real people
  • 12. three personalized giving
  • 13. feature three Personalized Giving › Fulfill multiple charitable intents › Gain maximum tax advantage › Be involved in establishing a fund: - Unrestricted - Field of Interest - Designated - Advised - Agency Endowment - Scholarship Fund
  • 14. foundation facts Our Current Statistics › More than 750 funds › Over $40 million in assets › Over $28 million is permanently endowed › More than $5 million in annual grants › Cumulative grants of nearly $30,000,000 since our inception in 1956 Tom Porth (Board Chair,’05-’06), and Mary Ann Burk (President and CEO)
  • 15. tools for giving Charitable Funds › Unrestricted Fund Meeting ever-changing community needs › Field of Interest Fund Addressing needs in an important area of community life: arts, education, environment… › Designated Fund Directing gifts to specific agencies or purposes (e.g., scholarship) › Donor Advised Fund Involving donors in the use of their gift › Scholarship Fund Benefits students seeking higher education You can create a named fund in any of these categories.
  • 16. Iowa Legislation Legislation for Community Foundations Endow Iowa * Affiliate Community Foundation Funds established at a qualified Community Foundation (the Community Foundation of Northeast Iowa is qualified) can apply to receive a matching grant. This helps to promote endowment building for rural communities as well. •Tax credits are also available through this legislation but are limited and applications must be submitted to IDED. Gifts must be made to a true permanent endowment at a qualified Community Foundation. Gambling Bill * Dollars to non-gaming counties (85 counties) will be distributed through qualified community foundations or affiliate funds
  • 17. Community Foundation of Northeast Iowa Affiliates The Community Foundation of Northeast Iowa handles all of the administrative responsibilities for 31 county and community affiliates. This includes accepting gifts, assisting with paperwork, handling thank you letters, and promoting the fund through various publications and initiatives.
  • 18. tools for giving A Personal Legacy of Giving Donors can establish a fund in their name, in a family’s name, or in the name of any person or organization they wish to honor. Grants distributed from a donor’s fund are awarded in the name of their fund. This person or organization will always be remembered and connected to the good work that is happening in our community.
  • 19. tools for giving Charitable Instruments › Outright Gifts- Give cash, stocks, real estate or other assets › Bequests- Designate a portion of an estate › Charitable Gift Annuity- Annuity contract pays donor for life and charitable fund commences grants upon death › Charitable Lead Trust- Trust pays the community foundation a fixed amount for a number of years and then assets go to beneficiary › Charitable Remainder Trust- Trust pays beneficiary for life and then assets transfer to community foundation › Life Estate Contract- Donor transfers home to the Community Foundation of Northeast Iowa and still enjoys living at home › Retirement Plans- IRA’s, etc. By naming the Community Foundation as beneficiary of a retirement plan 100% stays in the community to benefit charities in the donors name. › Insurance- Insurance policies can be named to the Community Foundation in total or even a portion. Many establish the Community Foundation as the owner and beneficiary during their lifetime. We accept a wide variety of assets.
  • 20. The power of endowment funding Lowell J. Walker Story
  • 21. people The power of endowment funding giving back Background of Lowell J. Walker › Son of D.J. Walker, a pharmacist › Successful agri-business pharmaceutical company › Set up three separate funds in the Community Foundation 1. Designated Fund for the Community Playhouse’s Walker Building 2. Field of Interest Fund to benefit youth & education 3. Designated Fund to benefit 16 organizations
  • 22. people The power of endowment funding giving back His gifts are now funding: › Annual upkeep and maintenance of the Community Playhouse’s Walker Building › Youth and Education Interests - Horseback riding for youth with disabilities - Mentors for youth in need - Music lessons for youth - Reading programs - Summer activities for the Boys and Girls Club › Annual funding for 16 designated local agencies The first year after his death the Community Foundation sent grants in his name in an amount greater than he was able to give in his lifetime to each of the 16 agencies he requested. The TRUE Power of Endowment Building!
  • 23. people Did You Know? giving back If you create an endowment worth $25,000 today, in 25 years you will have given this community $46,172 dollars in grants and your endowment will be valued at $69,257. Gift and grant values assume an 8.5% growth in the market and grants of 4% annually.
  • 24. The benefit of unrestricted giving Louise M. Loomis Story
  • 25. people Unrestricted Charitable Giving giving back Background of Louise M. Loomis › Louise McKinstry Loomis › Two children and three step children › Louise gave quietly to the Cedar Valley › She cared deeply for those in need and wanted to support charitable efforts with worthy missions
  • 26. people Unrestricted Charitable Giving giving back The Louise M. Loomis Story › 1996: established a fund to provide for her many interests › 1998: upon her death an additional one million dollars was added to her fund › Two times each year income from this fund is granted to agencies through the discretionary grant process of the Foundation Louise understood that the needs of this community might change in coming years and relied on the Foundation to respond to those needs.
  • 27. The Benefit of a Scholarship Fund The M. Elizabeth Naebers Scholarship
  • 28. people The Benefit of a Scholarship Fund giving back The M. Elizabeth Naebers Story › Margaret Elizabeth Naebers › Lived and worked on a farm outside of Waterloo most of her life. › She was a graduate of Dunkerton High School › Elizabeth was a strong, independent woman › She shared strong bonds with her community and her friends
  • 29. people The Benefit of a Scholarship Fund giving back M. Elizabeth Naebers Scholarship › The scholarship benefits graduates of Dunkerton and Don Bosco High Schools › The first year after the scholarship was established, 14 students received $1,000 college scholarships each › A testament to Elizabeth’s generosity and passion for helping others
  • 30. awarding The Unrestricted Grant grants Distribution Process • Application process twice per year with deadlines in the Spring (April 1) and Fall (October 1) • Common Application form created by Metro Funders • Distribution Committee of the Board of Trustees reviews and selects grant recipients. • The Committee’s final recommendations are approved by the full Board of Trustees. • The entire process (from deadline for applications to Board of Trustees meeting) takes approximately 2 months.
  • 31. Three of the Community Foundation of Northeast Iowa’s programs are…
  • 32. one Leave a Legacy
  • 33. program one Leave a Legacy Leave a Legacy is a statewide collaboration of non- profit organizations, grant makers, professional advisors, community leaders and media outlets . The mission is to preserve and improve the quality of life in our communities by increasing the number and amount of charitable estate gifts left to benefit non-profit organizations. The local Leave a Legacy effort is coordinated within the Community Foundation office.
  • 34. two Teen Trust
  • 35. program two Teen Trust Teen Trust is a year-long program that empowers and challenges 20-25 Black Hawk County high school students to address, identify and seek solutions to community needs. The program culminates with the students awarding $10,000 from the Youth Interest Fund to non-profit agencies in Black Hawk County.
  • 36. three Women in Philanthropy
  • 37. program three Women in Philanthropy Women In Philanthropy is a program developed to promote the intellectual and economic growth of women. Through this program women can also explore their philanthropic interests In this community, the Women’s Fund creates a vehicle for women to support the programs and institutions they care about.
  • 38. ten reasons people choose to give through community foundations
  • 39. ten reasons People choose to give through community foundations 1 We are a local organization with deep roots in the community 2 Our professional staff has broad expertise regarding community issues and needs 3 We provide highly personalized service tailored to each individual’s charitable and philanthropic interests 4 Our Donor Advised Funds help people invest in the causes they care about most 5 We accept a wide variety of assets, and can facilitate even the most complex forms of giving
  • 40. ten reasons People choose to give through community foundations 6 We partner with professional advisors to create highly effective approaches to charitable giving 7 We offer maximum tax advantage under state and federal law 8 We multiply the impact of gift dollars by pooling them with other gifts and grants 9 We build endowment funds that benefit the community forever and help create personal legacies 10 We are a community leader, convening agencies and coordinating resources to create positive change
  • 41. Community foundations are among the fastest-growing forms of philanthropy in the United States today.
  • 42. To learn more about us, call (319) 287-9106 or visit our website: www.cfneia.org For good. For ever. SM