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The Power of Philanthropy

Community Foundation of Washington County. The Power of Philanthropy. IT MAKES GOOD SENSE. What is the history of our Community Foundation?. Community Foundations History. The first Community Foundation was started 100 years ago i n Cleveland, Ohio. Community Foundations History.

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The Power of Philanthropy

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  1. Community Foundation of Washington County The Power of Philanthropy

  2. IT MAKES GOOD SENSE What is the history of our Community Foundation?

  3. Community Foundations History • The first Community Foundation was started 100 years ago in Cleveland, Ohio.

  4. Community Foundations History • The first Community Foundation was started 100 years ago in Cleveland, Ohio. • It pooled the charitable resources of Cleveland’s philanthropists, into a single, great, and permanent endowment for the betterment of the city.

  5. Community Foundations History • The first Community Foundation was started 100 years ago in Cleveland, Ohio. • It pooled the charitable resources of Cleveland’s philanthropists, into a single, great, and permanent endowment for the betterment of the city. • Community leaders would then forever distribute the interest from that fund to charitable purposes benefitting the inhabitants of Cleveland.

  6. Community Foundations History • This original foundation spawned a global movement. • Some 1,700 community foundations now exist worldwide.

  7. Community Foundations History • This original foundation spawned a global movement. • Some 1,700 community foundations now exist worldwide. • Today, there are more than 700 community foundations in the United States which collectively manage more than $48 billion in assets and distribute some $4.5 billion a year to community needs.

  8. Community Foundations History • Fifty years after the creation of the Cleveland Foundation the Davenport Area Foundation was established. • The mission of the DAF was to improve the quality of life in the Davenport area.

  9. Community Foundations History • Fifty years after the creation of the Cleveland Foundation the Davenport Area Foundation was established. • The mission of the DAF was to improve the quality of life in the Davenport area. • In 1994, the Davenport Area Foundation was renamed “The Community Foundation of the Great River Bend.” • The new name reflected CFGRB’s growing presence as a regional resource for both charitable giving and civic engagement.

  10. Community Foundations History • As the CFGRB has approached it’s 50th anniversary, there is no longer one pooled fund. Instead CFGRB has more than 850 distinct charitable funds, totaling over $93.4 million in assets.

  11. Community Foundations History • As the CFGRB has approached it’s 50th anniversary, there is no longer one pooled fund. Instead CFGRB has more than 850 distinct charitable funds, totaling over $93.4 million in assets. • Today, these funds stretch beyond Davenport and are located in its 13 affiliate community foundations that serve 17 counties in two states.

  12. Community Foundations History • As the CFGRB has approached it’s 50th anniversary, there is no longer one pooled fund. Instead CFGRB has more than 850 distinct charitable funds, totaling over $93.4 million in assets. • Today, these funds stretch beyond Davenport and are located in its 13 affiliate community foundations that serve 17 counties in two states. • The CFGRB is a Qualified Community Foundation, operating in compliance with the National Standards for Community Foundations as set forth by the Council on Foundations.

  13. The CFGRB Geographic Area

  14. Community Foundations History • The Community Foundation of Washington County was formed in 2006 as an affiliate of the CFGRB, serving the charitable needs of Washington County.

  15. Community Foundations History • The Community Foundation of Washington County was formed in 2006 as an affiliate of the CFGRB, serving the charitable needs of Washington County. • Because of our affiliation with CFGRB, the Community Foundation of Washington County (CFWC) also operates as a Qualified Community Foundation.

  16. Community Foundations History • The Community Foundation of Washington County was formed in 2006 as an affiliate of the CFGRB, serving the charitable needs of Washington County. • Because of our affiliation with CFGRB, the Community Foundation of Washington County (CFWC) also operates as a Qualified Community Foundation. • The CFWC is now one of 130 Community Foundations in Iowa.

  17. IT MAKES GOOD SENSE What does the Community Foundation of Washington County do?

  18. The CFWC serves as . . . • 1. Grantmaker. We support a wide range of community needs -- education, health, human services and more.

  19. The CFWC serves as . . . • 1. Grantmaker. We support a wide range of community needs -- education, health, human services and more. • 2. Community Leaders and Conveners. We act as community catalysts focusing on long-term endowment building and sustainability.

  20. The CFWC serves as . . . • 1. Grantmaker. We support a wide range of community needs -- education, health, human services and more. • 2. Community Leaders and Conveners. We act as community catalysts focusing on long-term endowment building and sustainability. • 3. Local Giving Vehicle. We establish and hold numerous funds for a variety of charitable purposes.

  21. We offer many types of funds. • Unrestricted Fund • Field of Interest Fund • Designated Fund • Donor Advised Fund • Agency Endowment

  22. Some of our local partners: • HACAP Endowment • Highland Community School District • John and Phyllis Jackson Music Scholarship • Leo and Martha Hall Endowment • Wellman Parkside Activities Center • Kalona Historical Village • Washington Iowa Betterment Association • Dean Hasty Fund for the Washington County Humane Society • Dean Hasty Endowment for Camp R.E.E.C.E • Claude and Mary Greiner Family Scholarship

  23. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community

  24. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving

  25. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving • Accepts wide variety of assets

  26. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving • Accepts wide variety of assets • Many professional advisors

  27. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving • Accepts wide variety of assets • Many professional advisors • Maximize gift dollars

  28. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving • Accepts wide variety of assets • Many professional advisors • Maximize gift dollars • Build legacies

  29. IT MAKES GOOD SENSE • Why do organizations and individuals partner with a Community Foundation? • Roots in the community • Personalized giving • Accepts wide variety of assets • Many professional advisors • Maximize gift dollars • Build legacies • Maximum tax advantages

  30. IT MAKES GOOD SENSE • Fund Facts: • $1,000 minimum • At $10,000 distributions may begin • 4.5%, 20 quarter average • Annual distributions each spring • 1% annual support charge • .5% annual investment fee

  31. YEAR 25 YEAR 1 YEAR 15 YEAR 50 Establish a Named Fund $9,000 in cumulative grants and services $16,000 balance $19,000 in cumulative grants and services $23,000 balance $66,000 in cumulative grants and services $57,000 balance $10,000 gift Initial gift has been invested: 1 TIME 2 TIMES 6+ TIMES nonprofits The Impact to assumes 4.5% annual payout and 8.5% rate of return

  32. IT MAKES GOOD SENSE Endow Iowa State Tax Credit

  33. WHAT IS Endow Iowa? • A State Tax Credit provided to Iowa tax payers who donate to permanent endowed funds at a qualified Iowa Community Foundation

  34. WHAT IS Endow Iowa? • A State Tax Credit provided to Iowa tax payers who donate to permanent endowed funds at a qualified Iowa Community Foundation • Encourages Iowa Taxpayers to invest in their communities by contributing to endowment funds at Qualified Community Foundations

  35. WHAT IS Endow Iowa? • A State Tax Credit provided to Iowa tax payers who donate to permanent endowed funds at a qualified Iowa Community Foundation • Encourages Iowa Taxpayers to invest in their communities by contributing to endowment funds at Qualified Community Foundations • The tax credit is equal to 25% of the amount of the donation. (This is in addition to the regular federal charitable deduction.)

  36. WHAT IS Endow Iowa? • The gift must be used for a charitable purpose in Iowa.(scholarships, agency endowments, donor advised funds, etc.)

  37. WHAT IS Endow Iowa? • The gift must be used for a charitable purpose in Iowa.(scholarships, agency endowments, donor advised funds, etc.) • The gift must be in a permanently endowed fund.

  38. WHAT IS Endow Iowa? • The gift must be used for a charitable purpose in Iowa.(scholarships, agency endowments, donor advised funds, etc.) • The gift must be in a permanently endowed fund. • The gift must be held by a qualified Community Foundation.

  39. WHAT IS Endow Iowa? • The gift must be used for a charitable purpose in Iowa.(scholarships, agency endowments, donor advised funds, etc.) • The gift must be in a permanently endowed fund. • The gift must be held by a qualified Community Foundation. • Limits each year • Per taxpayer (up to $300,000) • Statewide ( $6 million in 2013)

  40. WHAT IS Endow Iowa? • Tax paperwork has to be completed.

  41. WHAT IS Endow Iowa? • Tax paperwork has to be completed. • Awarded on a first come-first served basis

  42. WHAT IS Endow Iowa? • Tax paperwork has to be completed. • Awarded on a first come-first served basis • Can be carried forward up to 5 years.

  43. Endow Iowa Tax Credit Example Surprising wealth transfer in next 50 years With Endow Iowa, donations to community foundation endowments cost donorsless. For example, a $10,000 gift could cost just $5,000. Gift: $10,000 $1,000 Tax Credit: $2,500 $ 250 Federal Deduction: $2,500 $ 250 Total Tax Savings: $5,000 $ 500 Total Cost of Gift: $5,000 $ 500 *Based on 25% marginal federal tax rate $41 trillion in United States $531billion in in Iowa through probate estates alone $XXX billion in [County] Calculate for yourself and see the charitable impact at http://www.iowacommunityfoundations.org/resources.aspx $XXX,XXX per probated estate

  44. Surprising wealth transfer in next 50 years $41 trillion in United States $531billion in in Iowa through probate estates alone $XXX billion in [County] $XXX,XXX per probated estate

  45. Surprising wealth transfer in next 50 years $41 trillion in United States $531billion in in Iowa through probate estates alone $XXX billion in [County] $XXX,XXX per probated estate

  46. Endow Iowa… Proven Results! • In 2012, approximately $4.6 million leveraged $18.5 million in giving. • 126 contributions were from businesses. • Awarded to donors to approximately 71 different community foundations/affiliates. • Since inception, more than $110 million leveraged through 12,285 separate donations… and its growing! Surprising wealth transfer in next 50 years $41 trillion in United States $531billion in in Iowa through probate estates alone $XXX billion in [County] $XXX,XXX per probated estate

  47. What can you expect as an Endowment partner? Work with you to grow your organization’s endowment Strategize the work Assist in developing a brochure and donor materials Give presentations to the organization and potential donors Identify & prioritize potential donors Visit potential donors along with organization's board or committee members

  48. IT MAKES GOOD SENSE Questions & Comments

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