cerro gordo county core presentation
TRANSCRIPT
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Cerro Gordo
County
Community
Foundation Helping you help your community.
For good. For ever.
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What is the Cerro
Gordo County
Community
Foundation?
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We are:
A public charitable foundation
that…
• 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
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The idea is simple.
Anyone can use the
Community Foundation to
give back to their
community.
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3 Special
Features of community foundations
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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
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The Power of Endowment
6+ TIMES
YEAR 15
$9,000 in
cumulative grants
and services
$16,000 balance
Initial gift has
been invested: 2 TIMES
YEAR 50
$66,000 in
cumulative grants
and services
$57,000 balance
YEAR 1
Establish a Named
Fund
$10,000 gift
YEAR 25
$19,000 in
cumulative grants
and services
$23,000 balance
Assumes 4.5% annual payout and 8.5% rate of return. This is for illustration purposes only. The Community Foundation allows a 4% annual payout.
1 TIME
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TWO: Personalized o Educate people on giving options
o Customize giving to match personal
interests/tax needs
o Offer involvement in recommending uses
of a gift
o Create donor legacies via named funds
and donor stories (vignettes)
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THREE: Local o Local organization with local Governing
Committee
o Knowledge of local community issues, opportunities and resources
o Share information with donors
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Tools for giving
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Ways to Give Cash, Appreciated
Securities, Real Estate, Other Assets
Bequests
Establish fund through your will
Retirement Plans
IRA Rollover
Insurance
Community Foundation can be
named as beneficiary, in total
or even a portion, of your policy
Charitable Gift Annuity
A way to make a gift to your
favorite charity, and still receive
an income for yourself or others.
Charitable Lead Trust
Trust pays charity 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 the charity
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Types of Funds Unrestricted Fund
Meets changing community needs
Field of Interest Fund
Women’s Fund, Education Fund, Environment Fund, Health
Fund, etc.
Donor Advised Fund
Involving donors in the use of
their gift
Scholarship Fund
Benefits students seeking higher
education
Designated Fund
Big Brothers/Big Sisters Fund,
YMCA Fund, Habitat for Humanity
Fund etc.
Agency Endowment Fund
Used by non-profits to build
permanent financial support for
their organization
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Cerro Gordo
County
Community
Foundation Making a Local Impact
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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
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Local Impact Total Grant Dollars
Awarded in 2010:
$94,606.31 0 50
Arts & Culture
Community Affairs &
Development
Education
Environment
Health
Historic Preservation
Human Services
% of Grant Area
Funded
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IOWA Benefits of Giving to a Community Foundation
Endow Iowa
• A 25% state tax credit is available for donations to
permanent endowment funds at qualified
community foundations.
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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 Foundation
Less:
Endow Iowa 25% Tax Credit* $2,500 $2,500 $2,500
Federal Tax Deduction $1,500 $2,500 $3,500
Net Cost of Gift $6,000 $5,000 $4,000
*Based on current tax regulations. Example illustrated applicable for individuals who itemize deductions.
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People Giving
Back Donors Making a Difference
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How can I get
involved? We can help you help
your community.
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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
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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
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We are a resource…
Professional Advisors
Help clients realize their charitable objectives
Individual expect professionals to discuss all
options
Significant opportunity may be lost
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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
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When a person
plants a tree under
which she will never
sit, then you know
that civilization has
come to that land.
Greek Philosopher
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www.cerrogordoccf.org
Helping you help your community.
For good. For ever.