communitypeople connected by geography…and to each other
foundationa platform for growth
community foundation a platform for building community
The mission of the Scranton Area Foundation is to enhance the quality of life for all people in Lackawanna County through the development of organized philanthropy. We are a tax-exempt public charity created by and for the people of Scranton and Lackawanna County .
Our Mission• The Foundation Serves as a Steward: by developing and managing permanent endowment funds.• The Foundation Serves as a Grant Maker: by awarding grants and support to enable the community to respond to emerging and changing needs and opportunities.• The Foundation Serves as a Charitable Resource: by encouraging and educating donors and providing a flexible vehicle for individual donors, non-profit organizations and the community-at-large.• The Foundation Serves as a Catalyst: by mobilizing community leadership in response to issues.
Scranton Area Foundationas a community foundationhas three special features.
one personalized service
featureone Personalized service › Educate people on charitable giving vehicles › Customize giving approaches to match personal interests and tax planning needs › Facilitate complex forms of giving › Share knowledge on community needs › Offer grantmaking expertise and administrative services › Help people create personal legacies via named funds › Offer involvement in recommending uses of a gift › Provide the option to give anonymously Creating solutions that fit every situation
two local expertise
featuretwo Local expertise › We are a Local organization with local staff and board members › We have Knowledge of Lackawanna County community issues, opportunities and resources › We Monitor our unique community needs… Arts and culture Health Economic development Human services Education Recreation Environment Neighborhoods › We Gather information and track local agencies and programs › We Direct grants and resources to appropriate areas Making a difference where it is needed most
three community leadership
featurethree Community leadership › Act as a community catalyst › Build endowments to ensure grants are always available to support the community › Support high impact opportunities › Are governed by leaders with strong ties to our community › Foster development of new organizations and programs › Re-direct funds as community needs change Our business is building community
onepersonalized service two local expertise three community leadership
A bit of background.
foundationfacts A brief history 1914 First U.S. community foundation established in Cleveland, Ohio The Scranton Area Foundation began as a private 1954 foundation and in 1988 was designated as a public community foundation. today Over 600 community foundations in the United States › Serving citizens across the nation › More than $30 billion in assets › More than $2 billion in local grants each year › And growing!
foundationfacts Our vital statistics The Scranton Area Foundation › More than 70 funds › $19,000,000 in endowed assets › More than $600,000 annual grants › Cumulative grants of over $8,000,000
foundationfacts Our board of governors ……involved community leaders Austin J. Burke - Chairman Kathleen Graff - Vice-Chairman Thomas C. Capezio – Treasurer Warren T. Acker Richard S. Bishop, Esq. Dr. Edward G. Boehm Dante A. Cancelli, Esq. Karen Clifford L. Peter Frieder, Jr. Carlene R. Gallo, Esq.
foundationfacts Our board of governors ……involved community leaders Judith O. Graziano Cathy Ann Hardaway George V. Lynett, Esq. Patrick J. McMahon Thomas R. Nealon, Esq. Carlon E. Preate, CPA James W. Reid, Esq. Letha Reinheimer James A. Ross Walter L. Schautz William W. Scranton, III
foundationfacts Our advisory council Myer Alperin Dorrance R. Belin, Esq. Terry Bonifanti Venald W. Bovard Harmar D. Brereton, MD Paul Browne The Honorable Robert C. Cordaro Francis E. Crowley Catherine Richmond Cullen, Ed. D. John F. Erhard, DDS Matthew F. Flynn Thomas G. Gallagher, Jr.
foundationfacts Our advisory council Mary Ann LaPorta Robert N. Lettieri William R. Lynett Richard C. Marquardt Sharon McCrone Sally O’Brien, Esq. Jane Oppenheim Barbara Thomas Norton Raymond Pilch Carol Weiss Rubel Nicholas D. Saccone, DDS Mary Kay Warner Sheryl Youngblood, Ph.D.
foundation Our grant awardsfacts 2000 - Present Meeting diverse community needs Arts and Culture $ 87,450 Public Affairs $299,845 Education $102,470 Environment $ 50,000 Health $237,845 Human Services $270,378 Children/Youth $376,349 Housing $ 80,000
foundationfacts Our grant examples › Youth and teen program funding: Tomorrow’s Leaders Today › Health grants: VNA Hospice › Environmental issues: Lackawanna River Corridor Association › Public Affairs/Community Issues: Scranton Tomorrow
Tools for giving.
toolsfor giving Named Funds…… 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 linked to good works in our community.
toolsfor giving Charitable funds › Unrestricted Fund Meeting ever-changing community needs › Field of Interest Fund Addressing needs in an important area of community life: arts, aging, at-risk youth... › Designated Fund Directing gifts to specific agencies or purposes (e.g., scholarship) › Donor Advised Fund Involving donors in the use of their gift › Supporting Organization Managing gifts and grants with some similarity to a private foundation You can create a named fund in any of these categories.
toolsfor giving Charitable instruments › Outright Gifts Give cash, stocks, real estate or other assets › Bequests Designate a portion of an estate › 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 community foundation and still enjoys use while living We accept a wide variety of assets.
People giving back.
The advantages ofplanned givingPeople giving back
people The advantages of planned givinggiving back Estate planning goals: › Preserve assets for children › Increase support of community › Assure gift is well managed
people The advantages of planned givinggiving back Charitable Lead Trust: › Transferred $1,000,000 in appreciated assets › $75,000 paid annually to community foundation, for 15 years; establishing a fund in their name › After 15 years, remaining assets transfer to children › The family meets regularly to recommend charitable distributions
people The advantages of planned givinggiving back Conventional Community A quick comparison Investment/ Foundation Estate Plan Trust Initial value of stocks and bonds $1,000,000 $1,000,000 Current taxable gift to heirs NA $300,000 Gross amount to heirs at end of 15 years $2,396,558 $1,440,414 Less: Federal estate tax (@ 50%) ($1,198,279) ($0) Less: Gift tax adjustment ($0) ($150,000) Net amount to heirs $1,198,279 $1,290,414 Amount to charity — Donor Advised Fund 0 $1,125,000 Total family and charitable benefit $1,198,279 $2,415,414 (sample calculation — for illustration only)
Teachingcharitable givingOne family’s story
peoplegiving back Teaching charitable giving Philanthropic goals: › Opportunity to make charitable decisions as a family › Hands-on experience for three children — each can express giving preferences › Teach financial and community responsibility › Passing along family “giving values” to next generation
peoplegiving back Teaching charitable giving Donor Advised Fund: › 1994: set up with a gift of $200,000 › 1999: fund has grown to $250,000 › Two times each year the family meets to recommend charitable distributions › 1998: during the year, distributed more than $12,000 in grants to local community
Community foundations are among thefastest-growingforms of philanthropy in the United States today.
ten reasons people choose to give through community foundations
tenreasons People choose to give through community foundations 1 We are a local organization with deep roots in the community 2 Our professional program staff has broad expertise regarding community issues and needs 3 We provide highly personalized service tailored to each individual’s charitable and financial 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
tenreasons 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
When a person plants a treeunder which she will never sit, then you knowthat civilization has come to that land.Greek philosopher
The Scranton Area Foundation and you… sowing seeds of hope Building Community Together