 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. |
State of the Union... County Foundation
(Part of a series of articles on charitable giving and the Union County Foundation
by David Vollrath - Exec. Dir.)
Recently I was asked if 2005 was a good year for the Foundation. I paused, reflected
and answered, "yes 2005 was a very good year for the Foundation." From a purely financial standpoint
the Foundation’s assets increased 18% in ’05 to $3,269,533. The Foundation’s Investment Committee can claim much
of the credit for the increase in assets. This committee manages and monitors all Foundation investments, establishes
Fund administrative fees (currently 1% of Fund balances) and has successfully diversified assets in accordance
with a broadly accepted allocation model. The model (63% equities, 31% fixed income, 6% cash) is consistent with
prudent community foundation investing practices found throughout the country. The increase in assets also resulted
from the addition of several new Funds in "05: The Stacey Beth Colbert Fund, The Jason Mathewson Scholarship
Fund, The Andrew Daum Memorial Soccer Scholarship Fund, The Sarah Kathryn Demchak Memorial Scholarship Fund, The
Union Rural Electric Scholarship Fund, The J. Carl & Jeanie Thiergartner Family Fund, Union County Helps Fund,
and a new charitable remainder unitrust Fund.
Other highlights of the past year included "traveling" board meetings held
in both Plain City and Richwood. These special presentations allowed business and community leaders in each of
these Union County communities to become fully informed regarding the charitable services offered by the Foundation.
2005 also saw the first Planning Council gathering of county professional advisors. This event was co-sponsored
by the Memorial Hospital Development Council. The Hospital Development Council also teamed with the Foundation
to host the third annual Estate Planning Seminar. This annual event features presentations by several estate planning
experts and provides continuing education hours for the attorneys, CPA’s, and insurance professionals who attend.
In the interest of transparency and accountability the Foundation board committed to a policy of annual audits
starting in ’05.
A large part of Foundation activity revolves around grant distributions. In 2005 the
Foundation disbursed $402,861 through over 36 named Funds (a complete listing can be found on our website). Three
local fraternal organizations housing their charity Funds within the Foundation: Elks, Eagles, and Moose, together
advised distributions of over $250,000 to county causes. The Foundation continues to accept grant applications
on a quarterly basis. The quarterly deadlines for grant submissions are January 5, April 5, July 5, and October
5. Grant application and guidelines can be picked up at the Foundation office or at our web site.
As good a year as 2005 has been 2006 portends to be even better. The citizenry of Union County continue to act
on their charitable inclinations by allowing the Union County Foundation to help turn charitable dreams into real
world action. Our board of trustees operates (largely by choice) in relative obscurity. In 2005 they were: David
Allen (legal Counsel), Bob Buckley (CPA), Bob Conklin, Phillip Connolly, Gerry Dackin, Dan Fitzgerald, Barbara
Holcomb, Kevin Kern, Robert Lewis, Dr. John Linscott, Tom McCarthy, Frank Miller, Dorothy Mudgett, Pat Nuckles,
Dr. Frank Raymond, Dennis Schulze, and Barbara Timmons. These men and women, and those that came before them, are
the reason that Union County can be proud to have access to a local community foundation. The presence of a strong
community foundation is one significant sign of an alive and vibrant community. By that measure 2006 should be
another very good year! |
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