News : Vinton Community Foundation Accepting Grant Applications

Organizations encouraged to apply for funds for local projects

The Vinton Community Foundation board members announced today they will be accepting grant applications for the 2011 grant program for tax exempt, non-profit, service oriented groups in Vinton. Application forms are available at Farmers Savings Bank & Trust, 401 B Avenue, Vinton or from foundation board members. Grant applications must be returned to Therese Foth at the Farmers Savings Bank & Trust by 6:00 p.m. on Friday, April 29, 2011.

L. J. Kirkland Trust income will also be distributed by the VCF directors to youth projects in the Vinton-Shellsburg community school district based on educational and cultural need.

City of Vinton Local Option Sales Tax (LOST) Fund will be distributed by the VCF directors to non-profit organizations that are based in Vinton and serve the residents of Vinton. An organization must provide proof of 501.c.3 status. Grant application forms for the (LOST) fund are available at Farmers Savings Bank & Trust, 401 B Avenue, Vinton. Ranking criteria for (LOST) funds are: Based in Vinton and serve Vinton residents; Number of residents served; Availability and amount of other sources of revenue; Purpose of organization: provide human and/or cultural services that are essential or enriching to the health and well-being of the citizens of Vinton; and Whether the organization receives funding already from the City of Vinton (while this will not exclude an organization, it will lower its ranking of priority). The funds provided through the (LOST) to non-profits cannot be spent on food and drink; trips; gambling; and normal operational expenditures of the non-profit. Each organization may request up to $2,000.00 each. Grant applications must be returned to Therese Foth at the Farmers Savings Bank & Trust by 6:00 p.m. on Friday, April 29, 2011.

Recipients of past Foundation grants are reminded that before any future grant applications will be considered, documentation must be provided to the Foundation Board of Directors indicating the usage of the most recent grant funds received. If you have any questions, please contact Therese Foth at 319-472-2373.

The Vinton Community Foundation has actively contributed to the Vinton community since 1997. Since that time, the Foundation has provided $209,324.06 to non-profit groups, community projects, flood relief and scholarships. Grants have been given to the following groups for 2010 disbursement:

American Legion George G. Lucky Post 57

Arc of East Central Iowa – Student Tuition Scholarship

City of Vinton – Parks and Recreation Department

Swimming pool passes and Red Cross Swimming Lesson

Improvements to Jaycee Park

Cottage Garden Society - Irrigation system for the Butterfly garden

Cub Scout Pack 47 - Patches/Segments/Pins & Supplies

Vinton Aquatic Club, Inc. – U.S. Swimming & U.S. Diving fees

Vinton Fire Department – Fire Prevention Education

Vinton Lutheran Home – Develop Hospice Room

Vinton Ministerial Association

HS Supplies for underprivileged students

Summer lunch program for underprivileged students

Vinton Shellsburg Community School District

Special Olympics - Uniforms & equipment

V/S Boys Swimming program

Vinton Shellsburg Community Outreach Program

Elementary supplies & Backpacks

Virginia Gay Hospital Healthcare Foundation

The Vinton Community Foundation is constantly in search of contributions, as these contributions provide the majority of the funds available to grant worthy projects such as those listed above. One hundred percent of your tax deductible contribution is used for the betterment of the Vinton community. Every year applications far exceed contributions received for community project grant requests. You can make your tax-deductible contribution to the Vinton Community Foundation by contacting the Farmers Savings Bank & Trust or any director of the Foundation.

There are many ways to donate a tax exempt gift including:

Cash or check payable to Vinton Community Foundation in care of Farmers Savings Bank & Trust, P.O. Box 112, Vinton, IA 52349.

Appreciated securities, which carry two benefits cash gifts do not. You eliminate capital gains tax when you contribute the securities and you are allowed an income tax deduction based on the securities’ fair market value on the date of the gift. Securities may be delivered to Farmers Savings Bank & Trust.

Real estate, which holds tax advantages if it is a long term appreciated holding. You pay no capital gains tax on the appreciation and you may take an income tax deduction based on the properties’ fair market value on the day it is transferred by deed. The board recommends consulting with an attorney when considering a real estate gift.

If you wish to extend your gift over time, you might want to consider multi-year pledges.

Among the benefits:

Extended over a period of several years, a pledge helps you to make a larger foundation gift than you might have thought possible. You may make your pledge payments with cash, check or appreciated securities.

Deferred gifts for making a future donation might include:

Life insurance policy can be purchased and the foundation is named the beneficiary. The annual life insurance premiums are tax-deductible.

Specific or contingent bequests in your will.

Charitable remainder trusts, which let you enjoy income from the gift during your lifetime.

The gift can be made publicly or anonymously and the contributor may designate how the gift can be spent.

The following board members and the organizations they represent are:

Jim Murray, Chairman, Vinton-Shellsburg Community School

Sister Mary Hargrafen, Vice-Chairman, Vinton Area Ministerial Association

Don Eells, Director, Farmers Savings Bank & Trust, Vinton

David Wessling, Director, Vinton Unlimited

Lisa Vermedahl, Director, Vinton City Council

John K. Fischer, Secretary