Good News for The Dayton Foundation

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This community foundation newsletter highlights the activities of the foundation, its donors and recipients of grant funds.

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Good News for The Dayton Foundation

  1. 1. The Dayton Foundation SUMMER/FALL 2008 GOOD Dayton Foundation grant helps Daybreak create A Safe Haven for Homeless Youth N ineteen-year-old Sherry “THIS GRANT SAID” Daybreak’s new residential returned to Dayton and service center will OUR COMMUNITY after leaving her boyfriend in help serve homeless and inside FOUNDATION troubled youth. Michigan. She wanted to live with her mother until she could BELIEVES IN WHAT features find a job or go back to school, DAYBREAK IS DOING but her mother’s boyfriend AND HOW WE ARE turned her away. .”DOING IT.” So Sherry turned to Daybreak, a shelter for home- – Linda Kramer, – less youth and young adults. executive director, Daybreak Sherry now lives safely in one pg. 3 director. “This grant said our of 24 transitional apartments WSU Founder’s community foundation believes at Daybreak’s new residential Passion for in what Daybreak is doing and Education Lives On and service center located on how we are doing it.” South Patterson Boulevard in Formerly located on Wayne downtown Dayton. The center Avenue, Daybreak operates a opened in May, thanks in part crisis hotline and emergency to a $50,000 grant from The youth shelter and provides out- Dayton Foundation toward reach, prevention and life-skills Daybreak’s $9.6 million capital programs. Besides space for pg. 4 campaign to renovate the 100- training, counseling, recreation Donors Establish year-old dilapidated building and offices, the center has a Funds to and enhance the organization’s Help Others revamped shelter with single services for youth. bedrooms, adequate bathrooms “The Dayton Foundation’s and plenty of common areas commitment allowed us to to accommodate 16 children, leverage funds from others, ages 10 to 18. This is important, so we’re ending our campaign because it provides a safe place without a gap and without long-term debt,” said Linda pg. 5 continued on page 5 Kramer, Daybreak’s executive Uninsured Get Vital Medicines, Thanks to Grant Donors with“common touch” leave uncommon gift $4+ Million Eichelberger Bequest to Be Foundation’s Largest to Date pg. 7 Successful L ongtime Oakwood residents Oakwood. It’s only fitting that “The Dayton Foundation is Entrepreneur’s Jack W. Eichelberger, a they should pass on their ‘com- honored to be entrusted with Education prominent Dayton attorney and mon touch’ to the community this generous bequest that will Inspires Fund real estate entrepreneur, and through this remarkable gift.” have a significant impact on our pg. 7 Irish-born Sally D. Eichelberger, Together, Jack Eichelberger, community today and for gen- Grants in Action a devoted member of the who passed away in 2001, and erations to come,” said Michael Dayton Women’s Club, were Sally Eichelberger, who passed M. Parks, president of The legendary for their “common away in 2006, left The Dayton Dayton Foundation. touch.” It was a quality that Foundation $4 million from Advised by the Eichelbergers’ they both possessed and will their combined estates for The attorneys and longtime friends Sally D. and Jack W. Eichelberger long be remembered for by the Jack W. and Sally D. Eichelberger Gary L. Froelich, David C. Greer members of the legal profession Foundation. With a forthcom- and Neal F Zimmers, the fund . local law enforcement person- and their many friends. ing multi-million-dollar addi- awards grants to local organiza- nel and the people of Dayton “They enjoyed each other’s tional gift from their estates, the tions that enhance the educa- and Oakwood,” said David C. company and, in equal mea- total Eichelberger gift will be the tion of the legal profession, the Greer of Bieser, Greer & Landis sure, the company of Dayton Foundation’s largest gift from a LLP. “The Eichelbergers were continued on page 2 Bar Association members, bequest to date. great supporters of Dayton and
  2. 2. from the President Community Leadership Initiatives elementary schools being players and issues. No one resource, not just for the “BOARD-DIRECTED” rebuilt over the next several organization can solve any Foundation, but also for the FUNDS ARE A years. They are aimed at im- one of these regional issues. community. We want to be PRECIOUS RESOURCE proving the lives of children But The Dayton Foundation sure that where we choose to NOT JUST FOR THE and families in five targeted has a unique role we can use those resources has the Dayton neighborhoods. The play by virtue of our neutral greatest chance for a positive FOUNDATION, most recent initiative is position – our only interest is return and to make the most BUT FOR THE Crayons to Classrooms, a the well-being of the Greater difference. .”COMMUNITY.” partnership with the Mathile Dayton Region and its people Following the staff Family Foundation and – and the three legs of the research we’ve described here, Goodwill Easter Seals Miami stool of our mission. This is staff recommendations for opportunities. We also have Valley, among others, that helps that we help donors; we help our next leadership initiatives reviewed data, research and provide classroom supplies for worthy causes; and we are a are vetted by the Foundation trends. low-income children who can’t community convener with the Grants and Programs In essence, we have been afford them. With all three ability to bring together public Committee and ultimately by assessing the state of our of these initiatives, we have and private partners of all our Governing Board. community and listening collaborated with incredible persuasions to identify, assess Although the issues our to people’s views on what community partners to help and ultimately solve some of region faces are enormous can make it better. We are Michael M. Parks address important community our region’s issues. and complex, we are not working to determine whether O needs. discouraged. To the contrary, ver the next 12 months, particular community The Fuel and the Hope But how are we currently the deeper we get into them, The Dayton Foundation issues can be enhanced by Our primary limitation is the arriving at our leadership the more we see individuals will be taking on one or two collaborations that we are able amount of Board-directed initiatives? What is the process and organizations all around new community leadership to draw together to help our funds we hold – roughly 8 per- by which we determine them, us willing to come together to initiatives to help our Greater community. We are looking cent of all Dayton Foundation and how are they funded? solve issues. Our community Dayton community. These are at where Foundation dollars, assets. These assets are those has such wealth of committed, efforts where a need or gap as well as staff time, can be The Process caring human capital – people exists and where The Dayton placed to do the greatest Over the past few months, we “OUR COMMUNITY” willing to give their all to try Foundation is in a unique possible good. have engaged in discussions HAS SUCH WEALTH to heal our environment or position to help. To give you a sense of the with large numbers of people children at risk or neigh- Recent examples include magnitude of this, we are OF COMMITTED, from across the community, as borhoods in disrepair; caring our partnership with the examining local concerns CARING HUMAN well as held individual meet- donors pouring millions Dayton Business Committee, around homelessness; ings with Foundation Govern- ...CAPITAL....” of dollars back into local which led to the creation public education; housing/ ing Board members and with nonprofits at work for our of the Minority Economic foreclosures/vacancy issues; our Grants and Programs that donors, over time, have community; our region’s Development Council to workforce development; Committee. We have looked given The Dayton Foundation culture of collaboration and promote greater participation conservation; neighborhood at broad community issues to be used at the discretion of innovation. We are optimistic and inclusion of minority safety and vitality; nonprofit and specific problems and our Governing Board for the and look forward to reporting citizens in the economic capacity building; the need greatest needs in our com- back to you on where The fortunes of our region. Neigh- for regional collaboration “IT’S IMPORTANT” munity. These not only give Dayton Foundation – with borhood School Centers and growth; early learning us the ability to put money FOR PEOPLE TO your help – will go to work Program, a collaboration with and rigor in education; race on the table with partners we next in our community. Dayton Public Schools, the and diversity; our region’s UNDERSTAND THE enlist to tackle a community Fitz Center for Leadership in economic competitiveness; CARE WITH WHICH need, but also allow us to hire Community at the University and how to keep more of our WE ENTER INTO the expertise required to see of Dayton, Montgomery young people in our region the effort through. A COMMUNITY County, United Way and 16 after graduation. It’s important for people to Michael M. Parks other area funders, is another Any one of these has a LEADERSHIP understand the care with which President example. Its purpose is the complexity of interwoven .”INITIATIVE.” we enter into a community creation of neighborhood leadership initiative. Board- school centers at Dayton public directed funds are a precious Common arts and the Dayton commu- offering the high-caliber “TOGETHER THEY” nity. Sharing $90,000 in grants productions that reflect their ...HAVE LEFT... to date are The Human Race vision.” Touch [DAYTON] A LEGACY Theatre Company, Clothes that “While they loved to travel OF MEMORIES AND OF Work! and Cityfolk. and had homes in Florida and continued “Jack was very committed New York, Dayton was at the CHARITABLE INTENT to his profession, and he loved core of their lives,” said Neal THAT WILL BENEFIT music, particularly bluegrass F Zimmers of Zimmers and . THE COMMUNITY FOR and jazz,” said Gary L. Froelich Associates. “Together they are honored that the Eichel- of Froelich Law Office Co., have left it a legacy of memo- “.YEARS TO COME.” berger Foundation recognizes LPA. “This fund is how he ries and of charitable intent our programming as a worthy – Neal F. Zimmers, – wanted to be remembered, that will benefit the commu- vehicle for continuing Jack Zimmers and Associates through the organizations that nity for years to come.” and Sally’s legacy. Their gener- shared his goals and interests.” ous support in underwriting Said Kevin Moore, execu- the Loft Season helps insure tive director for The Human that we’ll be able to continue Race Theatre Company, “We 2
  3. 3. The Fund for Higher Education WSU Founder’ Passion to Expand s College Opportunities Lives On F ormer NCR Corporation served on corporate and civic “IT IS IMPOSSIBLE” chief executive and Wright boards, including The Day- TO OVERSTATE BOB State University founder Robert ton Foundation’s Governing OELMAN’S POSITIVE S. Oelman, who left indel- Board from 1974 to 1980, and AND LASTING ible marks on business, civic supported urban renewal and affairs and higher education in corporate community service INFLUENCE ON the Miami Valley, passed away through Dayton’s Area HIGHER EDUCATION. in 2007 at age 97. But he also Progress Council. HE WAS VERY MUCH left a charitable legacy through As plans for Wright State The Dayton Foundation that took shape, Bob Oelman led A SERVANT LEADER, will improve the quality of and with authority, co-chairing AND I REMAINED access to higher education in the building fund campaign IMPRESSED WITH perpetuity. in 1961 and later heading the BOB AS LONG AS I In 1998 Bob Oelman campus advisory committee established The Fund for and serving as chairman of .”KNEW HIM.” Higher Education, a field- the Board of Trustees. – Robert J. Kegerreis, retired – of-interest fund, through the “He was always quality- president, Wright State University Foundation. Grants from the minded,” noted Dr. Kegerreis. wisely counseled us to keep fund, first awarded in 2007, He recalled asking with con- trying,” said Dr. Kegerreis. “It help public and private Miami cern for Bob Oelman’s advice had been a longtime ambition Valley institutions of higher about switching from NCR of influential people in Ohio learning to increase the range to IBM mainframes, which and Dayton, especially his of higher educational services seemed better suited to the good friend Virginia Kettering, to students in the Greater university’s computer science to establish a medical school Dayton Region. needs in the 1970s. Bob Robert S. Oelman here, which we did in 1973.” “Bob served as a corporate Oelman gave him the nod 1931. After graduation, he 1967 and its growth over the The legacy of Robert champion of higher education to choose IBM. studied at the University of next two decades.” Oelman, who believed public throughout his life,” said Dr. “A narrow-minded, less Vienna, where he met and A Dayton native born in higher education should be Robert J. Kegerreis, Wright impressive person would have later married Mary Coolidge, 1909, Bob Oelman graduated available to everyone, lives on State University president insisted we stay with NCR,” also from Dayton. They were from Dartmouth College in through The Fund for Higher from 1973 to 1985, Dayton Dr. Kegerreis said. “He was married for 70 years. He Education. Examples of grants Foundation donor and a unquestionably astute and worked at NCR for 41 years, Robert S. Oelman (center) breaks from his fund to date include member of The Dayton Foun- never deviated from the high- becoming president in 1957 ground for Wright State Univer- a 2007 award of $5,600 to dation’s Marketing and Public est principles.” sity in 1963. He is pictured with and serving as chief executive (left to right) Novice Fawcett, the Clark State Foundation Relations Committee. “In In the early 1970s, Wright officer from 1961 to 1974. former president of The Ohio to expand its Champion the 1960s, NCR chief Stan- State administrators were pre- One of his greatest corporate State University; John Millett, City Scholars Program and a ley Allyn instructed Bob to paring the case for a medical former president of Miami challenges was shepherding $7,400 grant to the College get going on plans for a state school, in spite of significant University; Major General T.A. NCR from electrical-mechani- Bennett, former USAF Logistics Club at Wilmington. university in Dayton, which opposition in political, civic cal cash registers to electronic Command; Stanley Allyn, former The Champion City he did. Bob was instrumental and academic circles. “Bob machines, business computers NCR chairman; and Fred White, Scholars Program provides in Wright State’s founding in former business manager for and data processing. He also Wright State University. academic and life-skills train- ing to low-income students in Springfield City Schools, beginning in grade eight through their second year of college. These students receive full, two-year scholarships to Clark State and become the first in their families to earn a college degree. The grant to the College Club at Wilmington College supports an intervention pro- gram that focuses on at-risk or underrepresented middle school students in Clinton County who also would be the first in their families to attend or graduate from college. “It is impossible to over- state Bob Oelman’s positive and lasting influence on higher education,” Dr. Kegerreis said. “He was very much a servant leader, and I remained impressed with Bob as long as I knew him.” 3
  4. 4. endowment Donors establish funds to help others E stablishing a strong foun- commitment to excellence in to establish this fund that will dren by investing in programs, Dayton, Culture Works and dation for our communi- every experience. assist six- to eight-year-olds facilities and services that the Dayton Theater Guild, ty’s future is a vision shared by with tuition expenses for help children grow, learn and among other organizations. Dayton Opera Association donors who have endowment beginning ballet lessons at the play in a safe and healthy Endowment Fund, through funds at The Dayton Foun- Dayton Ballet School. environment. income distributions, sup- dation. Donors have started ports the operations of Dayton the following new funds to Opera, the area’s only profes- support our region and their sional opera company. special charitable causes, now Dayton Opera Association and in the future. Gold Standard Fund creates a board-designated endowment fund for Dayton Opera to help maintain the company’s stability, artistic integrity and community impact. Miami Valley Township Veterans Memorial Diversity Programs Endow- ment helps Victoria Theatre Miami Township Veterans Association bring diverse Memorial Fund provides The Human Race Theatre Company entertainment to the Greater annual, unrestricted operating Dayton Region and attract a The Kuntz Foundation The Human Race Theatre revenue for Miami Township sustains the charitable, edu- wide variety of audiences to Term Fund supports The Veterans Memorial. cational and civic projects of their productions. Human Race Theatre Com- The Kuntz Foundation. pany’s mission to present uni- Jack W. and Sally D. versal themes that explore the Eichelberger Foundation Marianne and Tom Becker human condition and startle was established by Jack and Tom and Marianne Becker us into a renewed awareness Sally Eichelberger, long- Family Fund was created by of ourselves. time Oakwood residents, to the Becker Family to honor enhance the legal profession, the memory of their par- the arts and the Greater ents. Thomas E. Becker was Dayton community through the president of the John A. the awarding of grants. Jack Becker Electric Company and Eichelberger was a well-known son of the company’s founder. Dayton attorney and real Marianne Becker was a Miami Bob and Dee Millat estate investor. Valley Hospital volunteer for Michael K. Millat Memorial 20 years. Scholarship Fund encourages Herbert M. Campbell Fund children of Millat Industries’ Maria Lauterbach for the American Cancer employees to further their edu- The Maria Lauterbach Fund Society* provides assets to cation. The fund was estab- for Women*** remembers sustain the programs and lished by Bob and Dee Millat in Marine Lance Corporal Frances P. Hussey services of The American Can- memory of their son, Michael. Maria Lauterbach, whose cer Society in Montgomery Mary J. and Frances P. Paul R. and Frieda M. Miller tragic death in 2007 attracted County, Ohio. Hussey Fund carries on the Memorial Scholarship Fund national sympathy. The fund legacy of these Oakwood sis- Carl J. Davis, Jr., Fund honors awards scholarships to African- will honor the memory of this ters by providing unrestricted the donor’s memory and love American Dayton Public 2006 Butler High School grad- operating funds to help The for animals by providing funds School graduates, who plan to uate by supporting organiza- Dayton Foundation help oth- to The Humane Society and major in teaching at a histori- tions that help female victims ers. Frances Hussey retired SICSA. Carl “Dutch” Davis cally black institution. Marilyn Sarah Fiorita of abuse and advocate improv- from Miami Valley Hospital retired as vice president of Miller-Lewis established this ing women’s rights and protec- after 28 years of service in Sarah Fiorita Memorial People’s Bank in 1982 and fund in honor of her aunt and tion in abusive situations. the diagnostic lab. Scholarship Fund celebrates was married to his late wife, uncle, both educators at and the memory of six-year-old James L. McGraw and Dr. Rita Klosterman Scholar- Adele, for 58 years. graduates of historically black Sarah Fiorita, who died of Marjorie McGraw Fund ship Fund honors the memory institutions, who wanted to Dayton Opera Association remembers this beloved leukemia in 2006. Her passion of this former elementary give others the opportunity Artistic Excellence Fund Kettering couple, who met for ballet prompted her parents school principal and Univer- provides operational funds for educational success. on a New Jersey beach and sity of Dayton professor who to continue Dayton Opera’s Warren E. Miltenberger Dayton Opera married in 1952. The fund devoted her life to education. Fund promotes wildlife pres- benefits the University of The fund will benefit the ervation, including supporting University of Dayton Col- wildlife sanctuaries and nature lege of Education and assist preserves, as well as sustaining financially needy students creatures indigenous to the attending any Roman Catholic Miami Valley region. elementary school in Mont- gomery County. * African-American Mark Andrew Kreusch Community Fund Memorial Fund** celebrates the memory and spirit of Mark ** Centerville-Washington Township Fund Kreusch, the four-year-old son of Jon and Suzanne Kreusch, *** Vandalia-Butler Foundation Fund whose life was taken unex- pectedly in 2007. The fund will enrich the lives of chil- 4 Mark Andrew Kreusch
  5. 5. Dayton Community Charitable Pharmacy Uninsured get vital medicines, thanks to Foundation grant G “WE KNOW WE” reg, a laid-off autoworker in Dayton now without ARE PREVENTING health insurance, decided INFECTIONS AND to become a truck driver. EMERGENCY ROOM But when he couldn’t pass a physical examination because READMISSIONS. of an irregular heartbeat, he PATIENTS ARE suddenly had no access to FEELING BETTER AND medicines required to regain GETTING BACK TO employment. The Dayton Community WORK, SO WE’RE Charitable Pharmacy, operated ENHANCING THEIR by Reach Out of Montgomery .”QUALITY OF LIFE.” County, helped Greg to navi- gate the health care system, – Sharon Sherlock – find a cardiologist and obtain with the $4 discount plans, some patients may still need “WE ARE THE” assistance from the charitable ULTIMATE SAFETY pharmacy. Discount programs have dosage limitations and NET FOR A LOT OF don’t cover expensive medi- PEOPLE.... WITHOUT cines for chronic conditions, THIS PHARMACY, such as diabetes, hyperten- Reach Out of Montgomery Sharon Sherlock said. “It about side effects and drug HOW MANY LIVES sion or asthma. And for County’s charitable pharmacy brought forth new individual interactions. We explain how low-income patients needing WOULD HAVE BEEN you weren’t here,’” said Sharon donors and helped us in our their medicine relates to their multiple prescriptions, dis- ?”LOST?” Sherlock, Reach Out’s execu- quest for funding from other disease state, now and down counted medicines are still tive director. organizations.” the road. People who under- – Sharon Sherlock, executive out of reach. The charitable After Reach Out’s federal The pharmacy provides up stand why they are taking a director, Reach Out of pharmacy helps patients find Montgomery County grant funds were diverted to three months of free generic medication are more likely to creative ways to fill these gaps. unexpectedly, The Dayton medicines to patients like comply than people who have “We are the ultimate safety the medicines he needed so Foundation stepped forward Greg. One part-time and addi- no clue. So we can impact net for a lot of people,” Sharon desperately. Reach Out pro- to award a $15,000 discre- tional volunteer pharmacists their long-term health.” Sherlock said. “We know we vides access to health care for tionary grant to help the teach patients how to admin- Pharmacists also encour- are preventing infections and underserved and uninsured pharmacy continue dispens- ister their medications, answer age patients to find a primary emergency room readmissions. people in the county. Because ing medicines to uninsured questions, monitor usage and care physician in a neighbor- Patients are feeling better and of high poverty and unem- patients, mostly those released adjust dosages as needed. hood health clinic. A physi- getting back to work, so we’re ployment rates in Dayton, the from emergency rooms. The “We do a lot more than cian can provide ongoing care enhancing their quality of life. community’s need for a chari- pharmacy, located around fill prescriptions,” said John and access to medications Without this pharmacy, how table pharmacy is great. the corner from Miami Valley Miller, a Reach Out board through free or low-cost pre- many lives would have “Every day people like Hospital, now fills 12,000 member and former volunteer scription-assistance programs, been lost?” Greg come to our pharmacy prescriptions annually. pharmacist at the charitable or $4 discount plans offered window and say, ‘Thank you “Without this grant from pharmacy. “We tell patients by many retailers. Sharon – I don’t know what I’d do if The Dayton Foundation, we Sherlock points out that even wouldn’t have stayed open,” Daybreak site services and support. where she’ll pay a portion of “...WE’LL BE ABLE...” Even pregnant youth or those her rent. She’ll graduate TO SERVE EVEN MORE with babies up to age three from Daybreak’s program continued YOUNG PEOPLE IN are welcome. “We’re moving when she’s ready to be fully them off the streets, giving THE FUTURE AND independent. them homes,” she said. “Here “That means for the same HELP MORE SUCCEED. they build community and see dollars, we’ll be able to serve for youth of different ages, OUR COMMUNITY IS social workers regularly. It’s a even more young people in the gender and behaviors. But it’s ONLY AS STRONG much healthier environment.” future and help more succeed,” the transitional housing that’s Sherry has a six-month, Linda Kramer said. “Our com- AS ITS WEAKEST LINK, allowing Daybreak to change renewable lease and “earns” munity is only as strong as Daybreak Housing Director the way it serves the com- AND THIS IS ONE Karen Garcia VanDyke (left) and her rent by following house its weakest link, and this is munity’s growing number of WE ARE HOPING volunteers sort through donated rules and attending counseling. one we are hoping to really homeless young adults, ages household items for the new “I get to act like an adult, TO REALLY strengthen.” 18 to 21, Linda Kramer said. shelter. buy groceries, cook food and Daybreak used to send young .”STRENGTHEN.” “They became isolated and do my own dishes,” Sherry DAYBREAK ASSISTS adults like Sherry to one- – Linda Kramer, – were at risk for failure,” Linda said. “I’m working on finding HUNDREDS OF RUNAWAY, bedroom apartments located executive director, Daybreak Kramer explained. “Many HOMELESS AND TROUBLED a job, and my caseworker is around town. While they YOUTHS EACH YEAR. READ weren’t ready for that level of helping me get back into received services and regular MORE ABOUT SHERRY’S independence, because they college.” visits from their case manag- STORY AND OTHER DAY- didn’t have life-skills training.” As Sherry gains indepen- ers, many still struggled. BREAK YOUTH ONLINE AT The transitional housing dence, she’ll move out of DAYTONFOUNDATION. program located in the new transitional housing and into ORG/GRNTNACT.HTML. facility nurtures, stabilizes a one-bedroom apartment, and immerses them in on- 5
  6. 6. Getting started with The Dayton Foundation Give the Gift of Charitable Giving T ired of shopping for the appreciated assets, such as and provide us with one state- perfect gift? Not sure what securities or mutual ment at the end of the year to give that special someone funds. This allows for our tax reporting,” Mrs. who has everything? Instead the full value of the Harker said. “I don’t know of giving an unwanted sweater, assets to be used for why more people don’t use tie or household knickknack, charitable purposes, the service.” consider a gift that gives back undiminished by long- Opening an account takes – a Dayton Foundation Chari- term capital gains taxes, just a couple of minutes and table Checking Account.SM when donated to the can be done online. Your That’s what Susan and Foundation before the loved one also can do all of Don Harker did for each of asset is sold. You receive his or her giving online, 24/7, their four adult children last the charitable deduction through the Foundation’s Christmas. as the donor contribut- secure, password-protected “They don’t need gifts of ing the assets. service, Donor Express. He or fancy gadgets or other items,” And best of all, it’s she can monitor the account’s said Susan Harker, a Charita- free. There are no fees or activity, including gift and ble Checking Account donor fund minimums. grant history, check the bal- since 2004. “These accounts ance, make grant requests “[THE CHARITABLE” will encourage them to and even add to the account think about and support the online. CHECKING ACCOUNT organizations and causes So, how did the Harker SERVICE] IS A GREAT they care about most. It’s a children react to their gifts? WAY TO TEACH great way to teach children “They were thrilled and CHILDREN OF ANY of any age about the joy of immediately started talking giving.” about which charitable causes AGE ABOUT THE JOY The Charitable Check- they were going to support,” .”OF GIVING.” ing Account Service is Susan Harker replied. “We – Susan Harker, Charitable – a flexible and tax-smart couldn’t have picked better SM Checking Account donor option that helps your gifts.” special someone help To learn more about the “My husband Don and I others. You can open service or to open an account love our Charitable Checking an account with any dollar today, visit www.daytonfoun- Account. It’s so easy to use, A post-holiday thank-you amount, with your loved dation.org. Or, if you prefer, note from Susan and Don time. Plus, an account can be and the Foundation does all one recommending grants you or your financial advisor Harker to The Dayton established in your loved one’s the work for us. They verify Foundation from the account to any IRS- may call one of the Founda- name, further personalizing the charity’s IRS status, send approved public charities, tion’s development staff at this gift option. the grant checks for us – even including educational and (937) 222-0410 or toll free at In addition to cash, you anonymously, if we want – religious institutions, at any (877) 222-0410. can fund an account with Tips on charitable giving Take Advantage of Current Interest Rates to Benefit Charity and Loved Ones while providing for their estate tax and income tax. He tunity to meet his charitable $36,000 annually for ten loved ones, by establishing also wants to provide for his goals, provide for his daugh- years, for a total of $360,000. charitable lead annuity daughter after his death in ter’s future well-being and Through his fund, Mr. Smith trusts (CLAT). a tax-advantaged way, since save on his estate, gift and may make regular distribu- he will have a taxable estate. income taxes. tions to the charities of his What Is a Charitable Lead After consulting with his This is a broad overview choice in the Greater Dayton Annuity Trust, and How attorney, he has decided that of how a CLAT functions. A Region and beyond. Does It Work? the best strategy to accomplish CLAT may or may not be an His tax savings is equally A CLAT provides fixed pay- his goals is to transfer appreci- appropriate giving vehicle for beneficial. If Mr. Smith is in ments to one or more charities ated assets to a CLAT. you and your family. As you the 33 percent tax bracket, his for a specified period of years Mr. Smith transfers consider your plans, you or gift tax deduction is $300,025. or a lifetime, as determined $600,000 in long-term mar- your estate planning advisor He also may be able to claim by the donor. After such time, ketable securities to a CLAT may contact me, Angela a similar income tax deduction. the remainder returns to the and names his fund at The Clements, CPA, senior devel- Long-term ordinary return By Angela Clements, CPA, donor or a beneficiary desig- Dayton Foundation as the opment officer, to discuss on his investment and long- senior development officer nated by the donor. A CLAT beneficiary for the next ten which charitable tool works term capital growth has been may provide the donor with a F ederal midterm rates are at years with his daughter as best for you. You can reach and remains at 5 percent. gift tax, income tax or estate an all-time low – 3.8 percent the remainder beneficiary. me at (937) 225-9948, or After the $360,000 distribu- tax deduction, or all three. in June. This provides a great The securities have a basis at aclements@dayton tion to his fund, Mr. Smith To help illustrate this, con- opportunity for individuals of $100,000. At a 6 percent foundation.org. has $975,561 remaining that sider the following scenario. to make a difference for the annual payout rate, the CLAT is passed to his daughter after John Smith wants to charities they care about most, provides his donor-advised his death. support his favorite chari- fund at the Foundation The CLAT has provided ties during his lifetime, as John Smith with the oppor- well as decrease his potential 6

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