Cerro GordoCountyCommunityFoundationHelping you help your community.For good. For ever.
What is the CerroGordo CountyCommunityFoundation?
We are:A public charitable foundationthat… • Has local, county-wide leadership • Holds many named funds • Is supported by individuals, families, organizations and businesses • Channels gifts from donors to non-profit organizations in the community
The idea is simple.Anyone can use theCommunity Foundation togive back to theircommunity.
ONE: Permanent Build endowments to ensure grants are always available to support the county Invest and protect the principal Distribute earnings via grants Power of variance – redirect funds as community needs change
YEAR 1 YEAR 15 YEAR 25 YEAR 50 Establish a Named $9,000 in $19,000 in $66,000 in Fund cumulative grants cumulative grants cumulative grants and services and services and services $10,000 gift $16,000 balance $23,000 balance $57,000 balance Initial gift has been invested: 1 TIME 2 TIMES 6+ TIMES The Power of EndowmentAssumes 4.5% annual payout and 8.5% rate of return. This is for illustration purposes only. The Community Foundation allows a 4% annual payout.
TWO: Personalizedo Educate people on giving optionso Customize giving to match personal interests/tax needso Offer involvement in recommending uses of a gifto Create donor legacies via named funds and donor stories (vignettes)
THREE: Localo Local organization with local Governing Committeeo Knowledge of local community issues, opportunities and resources o Share information with donors
Ways to Give Cash, Appreciated Charitable Gift Annuity Securities, Real Estate, A way to make a gift to your Other Assets favorite charity, and still receive an income for yourself or others. Bequests Establish fund through your will Charitable Lead Trust Trust pays charity a fixed amount for a number of years and then Retirement Plans assets go to beneficiary IRA Rollover Charitable Remainder Trust Insurance Trust pays beneficiary for life and Community Foundation can be then assets transfer to the charity named as beneficiary, in total or even a portion, of your policy
Types of Funds Unrestricted Fund Scholarship Fund Meets changing community Benefits students seeking higher needs education Field of Interest Fund Designated Fund Women’s Fund, Education Big Brothers/Big Sisters Fund, Fund, Environment Fund, Health YMCA Fund, Habitat for Humanity Fund, etc. Fund etc. Donor Advised Fund Agency Endowment Fund Involving donors in the use of Used by non-profits to build their gift permanent financial support for their organization
Cerro GordoCountyCommunityFoundationMaking a Local Impact
Community Foundation Facts Established in 2005 Affiliated with CFNEIA, established in 1956 Current total assets CFNEIA approximately $54 million (pooled funds) Cerro Gordo County approximately $213,700 Granted approximately $444,000 since inception
% of Grant Area Funded Human ServicesHistoric Preservation Health Environment Local Impact Education Total Grant DollarsCommunity Affairs & Development Awarded in 2010: Arts & Culture $94,606.31 0 50
IOWA Benefitsof Giving to a Community FoundationEndow Iowa• A 25% state tax credit is available for donations to permanent endowment funds at qualified community foundations.
What does it really cost to give?Federal Marginal Tax Rate 15.00% 25.00% 35.00%Endowment Gift to Qualified $10,000 $10,000 $10,000 Community FoundationLess: Endow Iowa 25% Tax Credit* $2,500 $2,500 $2,500 Federal Tax Deduction $1,500 $2,500 $3,500Net Cost of Gift $6,000 $5,000 $4,000*Based on current tax regulations. Example illustrated applicable for individuals who itemize deductions.
How can I getinvolved?We can help you helpyour community.
Ways to get involved…Individuals/Families Establish a named fund – “Growth Fund” Give to an existing fund Start a Giving Circle Estate planning Tell others about us Serve on committees/Governing Committee
Ways to get involved…Professional Advisors Establish a named fund Give to an existing fund Educate your clients about the Community Foundation Tell other professionals Serve on committees/Board of Directors
We are a resource…Professional Advisors Help clients realize their charitable objectives Individual expect professionals to discuss all options Significant opportunity may be lost
We are a resource…Professional Advisor Tools www.cerrogordoccf.org Language excerpts Publication with sample agreements Local Contact: 641.330.5181 Administrative office – 319-287-9106 Will answer questions about forms/materials etc
When a personplants a tree underwhich she will neversit, then you knowthat civilization hascome to that land. Greek Philosopher
www.cerrogordoccf.orgHelping you help your community. For good. For ever.