News : Benton County Community Foundation Participates in National Effort

During the week of November 12 to 18, 2018, the Benton County Community Foundation (BCCF) joins more the 795 other community foundations across the country for Community Foundation Week to raise awareness and bring individuals and families, nonprofits, and communities together. In 2005, a group of local individuals established the BCCF, an affiliate of the Community Foundation of Northeast Iowa (CFNEIA), to allow Benton County to benefit from State of Iowa legislation that distributes a percentage of gaming revenues to counties without a state issued gaming license and are affiliated with a community foundation meeting national standards for U.S. community foundations, like CFNEIA. “Community Foundations impact lives, solve problems and improve futures,” said Kaye Englin, CFNEIA President and CEO. “The Benton County Community Foundation is connecting generous, community minded people to non-profits who are at the heart of doing good in Benton County, and is making grants to innovative and effective local projects crucial to creating stronger communities.” Members of the BCCF governing committee currently include Ann Jorgensen (Chair), Linda Barkdoll, Phil Borleske, Bryce Brecht, Alison Henkle, Rod Kubichek, John Mossman, Jim Parmenter, Mary Pech, Tim Peters, Anna Upah, and Nicholas Volk. To date, BCCF has granted over $1 million to nonprofit projects impacting nearly every aspect of life in communities, including art and culture, education, environment, health, historic preservation, human service, and general community betterment. In 2018 alone, the local governing committee awarded 34 grants totaling $117,403 to projects in these areas. By connecting community-minded people to nonprofits who are at the heart of doing good in local communities, the Benton County Community Foundation continues to grow financially, increasing its impact through grant making. The BCCF currently holds over $825,000 in assets. A majority of these are endowed gifts, which is the base of the community foundation philosophy. Endowments allow gifts to continue on in perpetuity, providing a financial safety net for the community. These dollars are invested and professionally managed to achieve long-term growth by balancing principal protection with distributions to support local nonprofit organizations. Making an endowed gift with the Community Foundation means it will last forever. Gifts to the Community Foundation also offer unique tax benefits to those who want to give where they live. Gifts to endowed funds with the Benton County Community Foundation supporting Iowa charitable causes are eligible for the Endow Iowa 25% state tax credit. This is in addition to federal tax credits. The Endow Iowa Tax Credit program was launched in 2004 and since then has leveraged over $263 million in endowment gifts to support Iowa communities and charitable causes. This program has made nearly $62 million in tax credits available to Iowans who contribute to an endowed fund at an accredited community foundation in the state. For the past five years, the annual tax credit limit has been $6 million per calendar year and each year every tax credit has been distributed. The Endow Iowa Tax Credit is awarded on a first-come, first-served basis and is utilized by a wide range of donors. Credits can be claimed by individuals, businesses, or financial institutions. “The Community Foundation is a great way to get involved locally and be part of an organization that looks not only at what is needed today, but what can we do to support our communities forever,” said Ann Jorgensen, BCCF governing committee chair. “There is incredible potential that can be realized by combining people’s generosity and love of where they live, whether that’s through monetary gifts or giving of your time and talents as a volunteer, to create impacts that will build stronger, more vibrant communities here in our county.” To learn more about the Benton County Community Foundation and CFNEIA, visit their website (www.cfneia.org) or contact Terry Gaumer, CAP, affiliate development director at 319-243-1354 or tgaumer@cfneia.org. Launched in 1989 through a proclamation by former president George H.W. Bush, the first Community Foundation Week included a congressional briefing about the work of community foundations throughout America and their collaborative approach to working with the public, private, and nonprofit sectors to address community problems. Today, community foundations represent one of the fastest-growing forms of philanthropy. Every state in the United States is home to at least one community foundation—large and small, urban, and rural—working to advance solutions on a wide range of social issues.