 Helpful Articles
from David Vollrath,
Union County Foundation Executive Director
The Foundation encourages you to work closely with your professional advisor(s)
as you develop your estate plan and consider your present and future charitable goals. |
Understanding Community Foundations
(Part of a series of articles on charitable giving and the Union County Foundation
by David Vollrath - Exec. Dir.)
Four years ago this month I was first entrusted with the privilege of serving as the director of the Union County
Foundation. At that time the public’s understanding of the role and function of the Foundation was just getting
a good start. Through the efforts of many dedicated trustees, community leaders, and philanthropists, awareness
and understanding today is increasing. Here is a quick study for those who may still be a little fuzzy about community
foundations.
Community Foundations serve several primary purposes: A vehicle for personal philanthropy, an endowment (sustaining
dollars) for supporting community needs, a platform for building community, a legacy for the future, and a place
where charitable dreams become a reality. Community foundations serve individuals, families, organizations, and
professional advisors. Community foundations don’t compete with other local charities but rather support, partner
with, and facilitate charitable giving to local causes, projects, and organizations. One might describe community
foundations as a place for "one stop shopping" as it relates to localized charitable giving.
There are more than 637 community foundations found throughout the United States and they represent one of the
fastest growing sectors of philanthropy. Community foundations now hold more than $39.4 billion in assets and can
be found in virtually every significant population area in the country. The presence of a community foundation
is a sign of a community’s vibrancy and commitment to the future. Community foundations are non-profit corporations
that accept gifts of all sizes and forms including cash, real estate, stock, life insurance, and other assets.
Donors may contribute during their lifetime or create a "planned gift" that will perpetuate their charitable
interests after their death. In all instances a community foundation works to maximize the benefit (tax savings
and/or lifetime income) to the donor and to ensure that the charitable gift is used to the fullest extent.
Community foundations fill an important role in their geographic neighborhoods. They serve as a link between the
financial resources of a community and the charitable needs. Union County is fortunate to be one of the many progressive
populations served by a community foundation. Our future and quality of life will be better for having had such
an advocate and facilitator for turning charitable dreams into charitable realities
The Union County Foundation encourages you to consider your present and future charitable goals. The Foundation
is equipped to help you achieve these goals by providing: planned giving and estate planning resource information,
charitable gift annuities/life income plans, charitable remainder trusts, and a broad array of other philanthropic
vehicles. Please call us at 937-642-9618, email us, reference our website, or stop by our Marysville office at
126 N. Main St. We are committed to helping you.... “preserve your footprint in time.” |
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