Business Profiles: Community Foundation of Greene County
Community Foundation of Greene County
A resident waters plants in the newly built greenhouse at Woodside Manor. The project was collaboration between Blueprints and Corner Cupboard Food Bank with residents of Woodside Manor to grow some of their own food.
{span}Building dog shelter boxes thanks to the Dolores McCracken Fund for the Humane Society of Greene County{/span}
West Greene High School students teach elementary students to build and program a computer as part of a Genius Hour project in English arts teacher Melissa Ullom’s class.
Children slinging their backpacks over their shoulders and heading to preschool. Classrooms in Greene County receiving the latest in creative technology. Young women joining together to provide each other with support and encouragement. These are just a few of the accomplishments of grants provided by the Community Foundation of Green County.
Grants made possible by people like you.
Take Dolores McCracken, for example. Even though she is no longer with us, her legacy lives on in the smiling face of every pet owner who has adopted a Humane Society animal. Every year, the Dolores McCracken fund helps provide the Humane Society with the money needed to house pets in need of sheltering. That’s a lasting legacy of positive, meaningful impact.
Or consider Burt and Linda Fettig, who founded the Enstrom Family college scholarship as a way to honor a loved one. Through their generosity, the past is being commemorated even as education paves the way to a brighter future. Thanks to Burt and Linda, Greene County high school students can look forward to a more affordable college education.
So how can you get involved? Great question.
As a 501©(3) nonprofit charitable organization, the Foundation currently manages more than 6 million dollars in assets, including over 90 permanently endowed and restricted funds – and continues to grow as it strives to meet Greene County’s needs. These funds are carefully invested, multiplying the weight of the impact gifts to the Foundation can accomplish both now and for future generations. The Foundation’s permanent endowments, in particular, can distribute investment earnings year after year to support a designated cause, nonprofit organization, scholarship, or be distributed as discretionary grants. So, by supporting the Foundation, you are multiplying the amount of difference your gift can make.
Donors may include a charitable bequest in their will to create or add to a fund at the Community Foundation. Charitable bequests provide significant estate tax advantages, which should be discussed with a professional advisor.
Donors may bequeath a specific item or amount of money for some charitable purpose. This is known as a “specific bequest.” A “residual bequest” refers to a donation that consists of the remainder of a donor’s assets after all expenses and other specific bequests have been paid out.
By including a charitable contribution in their will, donors can make a simple gift, yet potentially much more abundant than they could consider during their lifetime.
Currently, Americans age 70½ and older can make tax-free IRA contributions directly to public charities, including the Community Foundation of Greene County. The law permits individuals to transfer from $1 up to $100,000 from individual retirement accounts directly to a qualifying charity without the transferred assets considered as income for federal tax purposes. Your retirement funds can go further than ever before.
As a donor, you have the freedom to choose which of the following options is right for your contribution. Perhaps you would like to create a Designated Fund – supporting the excellent work of a specific nonprofit organization – be it a senior center, library, church or any qualifying nonprofit charitable organization.
Or maybe you are drawn to the idea of a Scholarship Fund – providing much-needed financial support to students as they attend school and expand their career opportunities. Scholarships can support children attending pre-kindergarten programs or private K-12 schools, as well as those planning to attend post-secondary schools such as college or technical schools.
On the other hand, you may only have a general idea of what cause you wish to support. If that’s the case, you are a good fit for a Field of Interest Fund – making contributions to targeting a cause most important to you: arts, education, youth welfare, animal services, environmental issues and more. Finally, you might choose to create an Unrestricted Fund – addressing a broad range of current and future needs as determined by the Community Foundation of Greene County.
For non-IRA contributions, a Donor-Advised Fund allows interested donors to have a more personal role in the grant-making process. Donors who create these funds may, from year to year, choose where their support will be most needed. Through it all, donors will be able to remain actively involved in the distribution process.
CFGC connects people who care with the causes that matter to them the most. You might establish a fund to make grants that meet the changing community needs or provide scholarships to help students secure educational opportunities from preschool through college. Regardless, your support will make a difference in the lives of Greene County individuals.
To learn more about leaving a legacy in your name or a loved one’s by establishing a new fund, contact Bettie Stammerjohn, Executive Director, at (724)-627-2010, or email cfgcpa@gmail.com.