a tax-exempt, nonprofit, publicly supported,philanthropic institution… for the broad-based charitable benefit of theresidents of a defined geographic area.What Is a Community Foundation?
By building a community based endowment. Like a permanent fund, essentially a savings account, whereyou only spend the interest. Distribute a percentage of the assets after gains(the interest) to make grants to fund activities in thecommunity. Allocate a small percentage of earnings to cover thefoundation’s administrative costs. Reinvest some gains back into the fund so that it willgrow. The goal is for the endowed funds to become moresizeable and significant over time!How does a Community Foundation work toimprove a community?
MISSION OF THE SITKA LEGACY FUND …is to support our community’s resiliency and self-reliance, now and in the future. We are committedto keeping our community a vital, progressive, andhealthy place where people can live, work, raisefamilies, and retire by: working together to solve problems, nurturing our valued historical and environmentalheritages, celebrating life through spiritual, artistic, athletic,and cultural expression, promoting education and economic prosperity
HISTORY OF SITKA EFFORTS For years, Sitkans have been discussing the idea ofstarting a “community foundation.” In 2012 Sitkans met over several months to explorethis topic in a series of public meetings. After year of study and discussion the workinggroup voted and applied for a Community AssetBuilding Initiative “CABI” grant from the AlaskaCommunity Foundation. Early in 2013 The Greater Sitka Legacy Fundsteering committee was awarded the CABI grant tocreate a community foundation affiliate in Sitka.
GREATER SITKA LEGACY FUND GOALS: As a CABI we have the opportunity to receive amatching grant if we meet these GOALS for 2013and 2014: Raise $50,000 in from FOUNDING MEMBERS of theSitka Fund in 2013, and Raise another $50,000 from FOUNDING MEMBERS ofthe Sitka Fund in 2014.RESULT: $200,000 in endowment fund of Greater SitkaLegacy Fund by end of 2014!
HOW CAN YOU HELP? Become a Founding Member by giving a donationin 2013 or 2014 Recommend someone you respect for the SitkaADVISORY BOARD of the Sitka Legacy Fund Help with ongoing growth of the Sitka Legacy Fundthrough sharing information about legacy giving(bequests, donations of property, grants, andindividual gifts),
IMPORTANT INFORMATION The Greater Sitka Legacy Fund is committed tothese ideals: Will emphasize we do not want Sitkans’ to reduceannual giving to local charities and projects; Will mostly seek direct gifts from individuals andorganizations, and create an opportunity for giving bybequests; Intends to promote an even greater spirit ofphilanthropy—giving—within Sitka; and Intends to focus on growth of local resources for theFUTURE—someday the Sitka Legacy Fund will be self-sustaining and able to supply a major portion of localneeds—actually supporting other non-profits and locallyimportant projects.
SITKA will increasingly become aretirement community; are we ready?From 2010 to 2030, Sitka expects no overall population growth.• In 2010, seniors age 65+ were 11 % of our community.• In 2020, those over age 65 will be 17% of Sitka.• In 2030, Sitka will be home to 23% of its population in the age65 plus bracket.Generational transfer of wealth is happening in Sitkaand could be accelerating in near future. The GreaterSitka Legacy Fund offers a financially sound option foryou to leave your legacy in our community.
What does Greater Sitka Legacy Fundget from the Alaska CommunityFoundation?
› All IRS compliance performed by ACF- audit, 990, and giftacceptance› Lower investment costs, less risk, and potentially higherreturns› FIMS software for accounting, donor data tracking, andfund reporting and statements› Communications and marketing support including onlinegiving through customized Affiliate webpages hosted byACF› Automatic eligibility for Pick. Click. Give.Economies of Scale
Services› ACF staff expertise› Ability to accept a variety of gifts› Grant and gift processing› Gift acknowledgement letters and receipts› Professional investment oversight› Web-based grant application system› Legislative monitoring, updates and advocacy› Educational opportunities
› Credibility with donors: endowed fundswill ALWAYS be designated for thecommunity› With national and statewide funders: ACFand Affiliates comply with the NationalStandards› Statewide representative board› Statewide brand/logo with Affiliate identityclearly delineated: promotes localcredibility while saving cost of statewidemarketingCredibility