Keokuk Area Community Foundation - PowerPoint Presentation

Slide1

Keokuk Area Community Foundation

For Good!

For Ever!

P.O. Box 367

701

Blondeau

Keokuk, Iowa 52632

Phone: 319-795-1407Slide2

We at the Keokuk Area Community Foundation believe that you are important to those you meet and those whom you may never meet. Slide3

What We Do At the Foundation

W

e receive charitable gifts and grants from donors which are invested in an endowment.

Non-Profit Organizations, Charities, Churches, and Educational Institutions in the Tri-State Area are

partially funded

from

the income

from these Endowments.Slide4

At the Keokuk Area Community Foundation We Build, Protect and Preserve.

Protect

that which we hold in trust

.

Build

endowments so we might give to non-profit organizations

(through grants)

in the manner the donors desire.

Preserve

financial resources for future use.

By Building, Preserving, and Protecting

partnerships are created between the community and

n

on-profit organizations, charities, schools and churches. Slide5

Since 2005,The Keokuk Area Foundation has grown the funds we hold in trust to $1,200,000+

Careful investing and new gifts\contributions have enabled the funds to DOUBLE since 2009!

The Greater Cedar Rapids Community Foundation counsels us and helps us to invest and manage the funds we hold in trust.Slide6

Funds from families and individuals at the Keokuk Area Community Foundation

Many individuals and families have established endowments and KACF holds in trust over $500,000 from these families.

5% of the income is given annually from these funds to non-profit organizations.Slide7

These organizations have asked KACF to hold funds in trust for them as a permanent endowment...

The Grand Theatre Corporation Foundation

The Keokuk Area Hospital Foundation

The Keokuk Schools Foundation

The Keokuk YMCA

The Keokuk Library

Three Rivers Conservation Association FoundationSlide8

Since 2005, we have awarded $276,954 in grants to 44 non-profit organizations, charities, churches and schools. Slide9

Why Should a Family, Individual or Business Establish an Endowment for the Keokuk Community Area Foundation?

To preserve wealth that you desire to give

(after your have met you obligations and commitments to your family and friends)

to worthwhile organizations as a charitable and philanthropic gift.

To direct your charitable giving

today

and

forever!

The Foundation

will always

insure that your charitable intent and interests are preserved and maintained for generations.Slide10

Endow Iowa

A research study from 1998-2002 by the

Community Vitality Center

at Iowa State University, projected the generational transfer of wealth from 2000 to 2049.

In Iowa, that estimated wealth transfer is $531 billion!

These projections were based on the recorded wealth transfer during 1998 through 2002, the demographics of each county, and an assumed growth rate of the nation’s economy of 2%. Slide11

Endow Iowa

Endow Iowa was created to enhance the quality of life for the citizens of this state through increased philanthropic activity by encouraging new investments to existing community foundations and facilitating the creation of new community foundations.Slide12

Projected wealth transfer in Lee County, Iowa:

2000-2049: $531,712.1

(in millions)Slide13

Endow Iowa

Governor Terry

Branstad

signed bill SF302 into law on May 12, 2011 which raises the base amount of the Endow Iowa tax credit program by $800,000.

The increase will provide approximately $4.5 million in Endow Iowa tax credits annually. This addition to the base amount of credits available is a tremendous incentive for taxpayers to leverage more than $18 million per year in permanent endowment funds established at community foundations.

These endowment funds will support many kinds of charitable projects and nonprofit organizations statewide for years to come. Slide14

Endow Iowa

and

Keokuk Area Community Foundation

This credit offers taxpayers a tax credit against taxes imposed in Iowa in addition to the normal charitable income tax deductions for your charitable gift to the Keokuk Area Community Foundation, a 501 (c) (3) non-profit charity and foundation.

The charitable gift

must be given to a qualified community foundation

for a permanent endowment or an endowed fund

(including a Donor Advised Fund).

For the benefit of one or more Iowa charitable causes: non-profits, educational institutions, churches and funds can be given by individuals, families, corporations, a business or a financial institution!Slide15

The Iowa Tax Credit

25% of the amount you give to the Foundation and is limited to no more than $125,000 per taxpayer (which is the maximum credit for a gift of $500,000: 25% of $500,000

). Excess credit which you are unable to use in the current tax year can be carried forward for up to 5 years.

You can make as many gifts as you desire in a particular year as long as you do not exceed the $125,000 Credit for the year.Slide16

Donor Advised Funds

A donor advised fund is a means for you and your family to give a charitable gift

(and add to it in subsequent years)

and then direct income and gifts from the invested fund to charitable organizations and institutions

you

choose

(and these can be changed each year if you prefer)

!

You receive all applicable Federal and State charitable deductions and if you reside in Iowa, the Endow Iowa Tax Credit.Slide17

Donor Advised Funds

How a Donor Advised Fund functions:

1. You give cash, appreciated securities or stocks, real estate or other property to The Keokuk Area Community Foundation.

2. We establish the fund in your family’s name or in the name of whoever you designate.

3. You recommend to the Foundation those charities or institutions that you wish to receive the grant that year, or:

4. You can establish an Endowed Donor Advised Fund and the fund endowment is invested over a period of years and the income of the fund, usually 5% is distributed to those charities you designate.