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November - A Season for Philanthropy

November 24, 2012
Al Ricks - TCCF Outreach Coordinator , Dysart Reporter

The month of November has traditionally been a time for Iowans to count their blessings. A usually bountiful harvest, the gathering of family and friends to enjoy Thanksgiving holiday feasts, and even the final football games of the season combine to invite reflection on the goodness of life. In spite with this year's drought conditions in our state, there are still so many reasons for giving thanks!

This may well be the time of year when individuals, families, and organizations wish to consider making gifts of significance to express gratitude for the goodness of life. Several possibilities are offered through Tama County's own community foundation.

Scholarship Funds: By creating a permanent scholarship endowment fund with the Tama County Community Foundation (TCCF), an affiliate of the Community Foundation of Northeast Iowa, you can invest in your community's future and demonstrate your commitment to education. A scholarship fund through the TCCF could target any particular school district in the county, or it might be more general in nature. For example, a donor who has been a supporter of 4-H could establish a fund to annually benefit an Tama County 4-H member, no matter what school district he or she attends.

Creating a scholarship endowment fund through the TCCF is a simple process.

-You make a gift to the TCCF (cash, appreciated securities, real estate, grain, or other assets)

-TCCF establishes a scholarship fund in your name, in the name of your family or business, or in honor of any person or organization you choose.

-Your gift will be placed in a permanent endowment that is invested over time.

-You receive significant tax benefits in the year your gift is made.

-TCCF handles all administrative details and awards scholarships to deserving students in the name of the fund you establish.

-You receive updates on the impact your gift is making, as well as recognition as a donor to the TCCF.

Field of Interest Fund: These endowment funds help you target your giving to address specific areas of need in your community, such as arts and culture, senior care, education, or the needs of at-risk youth. Gifts to establish these funds in the TCCF have a bit broader scope, while still permitting the donor to focus giving on strong personal interests.

Donor or Corporate Advised Funds: These funds allow you to make a gift to the TCCF and then remain actively involved in recommending grants from your fund each year. You receive maximum tax benefits for each new gift. Grant awards are issued to charities in the name of the fund or anonymously, if you prefer.

Designated Funds: With these funds you can support the good work of one or more specific nonprofit organizations. If, for any reason, the organization you select ceases to exist or changes its mission, the fund can be redirected so that it continues to address your original charitable intent.

One of the particular reasons philanthropists may wish to consider the TCCF is the Endow Iowa tax credit. Through this program, donors to the TCCF are eligible to receive a 25% state tax credit in addition to normal federal deductions for charitable gifts. This tax credit is only available to donors who establish or contribute to a permanent endowment fund at a qualified community foundation, like the Tama County Community Foundation.

Saying thank you through the TCCF is a wonderful and deeply meaningful way to impact your community for generations to come. The TCCF has been created by and for the people of Tama County. The Foundation's primary goals are to support charitable projects and programs, to attract additional funds, and to assist donors in creating lasting legacies through a variety of giving options within Tama County. For more information about the TCCF, contact the Community Foundation of Northeast Iowa at (319) 287-9106 or Rick Krug, Chair of the Tama County Community Foundation at (319) 478-2148.

Special thanks to Ali Parrish, Director of Development at the Community Foundation of Northeast Iowa, for providing content support for this column.



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