We at Kenosha Community Foundation are pleased to provide a series of articles in the coming days to celebrate National Community Foundation Week, November 12-18.
We’ll use this series to help KCF break free from the moniker “Kenosha’s Best Kept Secret” and position itself as a recognizable and sought-after resource to connect its passion for supporting the local community through fundraising. endowment that provide benefits. for life.
KCF strives to facilitate a conversation with potential donors and assists them as constructive avenues through which they can achieve their philanthropic goals and put their donations to work for the betterment of Kenosha County.
How a Community Foundation Works
Step 1: The Foundation accepts donations and establishes charitable funds, including scholarship funds. Individuals, families, businesses and organizations donate to the Foundation in cash, securities, real estate, bequests, trusts; to name a few.
People also read…
2nd step: With the donation, the Foundation and the donor(s) sign an agreement and create a permanent charitable fund. The agreement specifies how the income from the fund will be used. This agreement specifies one or more organizations or a particular focus area (fund direction) to which annual income is directed, either through a direct donation or through a grant application process. Alternatively, a donor agreement may state that the annual income allows the Foundation’s distribution policy to guide the use of these funds.
Step 3: The Foundation then manages and invests the funds – to earn income and grow the fund. In addition, the Foundation handles all administrative activities, relieving the donor of tedious record keeping.
Step 4: Annually, a percentage of the Fund’s income is distributed to fellows or fellows.
Where can a budding philanthropist start?
By establishing a seed fund with KCF, donors can create a charitable endowment that supports annual grants to the community that will have extraordinary long-term impact. The Seed Fund Program helps harness the power of financial markets to multiply the value of your contributions over time. All you do is make an initial donation of $600 and subsequent annual contributions of $600. Investing even small amounts regularly will build an endowment that can grow over time.
As a fund donor, with the guidance of the Foundation, choose to establish an endowment fund that is either Restricted – will make ongoing donations to one or more designated organizations or promote a specific cause OR Unlimited – allows the Foundation to select the organizations that receive grants. Or, if you want more flexibility to direct the fund’s recipient organization or organizations each year, you can create a donor-advised fund. NOTE: Donor-advised funds cannot be funded by direct transfer from an Individual Retirement Account (IRA).
As the Starter Funds account grows, there are no fees charged for its administration – all accrued income is added to the fund to continue its growth. No administration fees are charged until the fund balance reaches $10,000.
When the fund reaches a balance of $10,000 (through donations and investment growth), the start-up fund becomes a permanent endowment fund. From this moment, the Foundation will begin to grant grants or distribute donations to entities/organizations; actions specified in the agreement.
Each year, a percentage of the fund’s income is directed to entities or made available to fund recipients, as specified by the donor(s) in the funding agreement. Since the capital of an endowment remains intact, annual income payments can continue in perpetuity.
We’d love to help you make it all easier while charting your own path to fulfilling your passion for philanthropy. It’s a special occasion to participate in philanthropic giving and the returns are forever. As Winston Churchill said: “We earn our living by what we receive, we earn our living by what we give. We would be delighted to help you make your personal philanthropic wishes come true.
To help achieve this goal, contact the Foundation at [email protected] or by calling 262-654-2412.
Talking about money with your partner can be awkward. Veuer’s Elizabeth Keatinge gives us some tips on how to have that conversation.
Aloe vera is an excellent natural product that can be used for more than sunburn.
While a dishwasher is great for cleaning everyday plates and bowls, it can also seriously damage some kitchen items.
Chloe Hurst of PennyGem helps you navigate ‘aging in place’ to ease your financial burden!
Stanford University neuroscientist Dr. Andrew Huberman says doing these 3 things in the morning will make you more alert.
Besides being a challenge to clean, dust can also make you sneeze or even trigger allergic reactions.
Are you paid what you are worth? You might want to start a conversation with your employer.
Elizabeth Keatinge of PennyGem talks to us about the habits of people with good credit practices.
Here are some simple but effective tips for long-haul flights from seasoned long-haul travelers. Buzz60’s Chloe Hurst has the story!
Perseverance is that faculty that emerges when we constantly make mistakes and never stop trying.
If we’re all online dating, is it okay to break up online? Buzz60’s Maria Mercedes Galuppo has the story.
So how do we unpack the lightweight packaging hacks? Buzz60’s Chloe Hurst has the story!
Office politics is a perfect opportunity to unleash your professional devil. However, that doesn’t mean you should. Buzz60’s Chloe Hurst has the story!
Amy Greil is executive director of the Kenosha Community Foundation.