The Community Foundation of the Rappahannock River Region Newsletter Fall/Winter 2016 www.cfrrr.org
New Teen Suicide Prevention Education Fund
Foundation News
“Someone spoke at my school today. ... I told my mom I’ve been feeling depressed and having thoughts of suicide. I need someone to talk to. Can you help me?” Philanthropist Mary Jane O’Neill envisions a future in which our community is free from the heartbreak of suicide. Too many local lives have been tragically effected because an area teenager believed their only pathway out of pain and suffering was to end their own life. The Community Foundation understands that Mary Jane’s dedication to this cause is not just a passing interest and we share her vision. Foundation staff found a way to help make sure that limited funding doesn’t stop our local young people from learning about mental health issues. In June of 2016, The Community Foundation helped Mary Jane establish the permanently endowed Mental Health America of Fredericksburg Suicide Prevention Education Fund. This fund directly supports work to teach teens and
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others how to recognize the signs of suicide, and empowers them to take action and support family members and friends. Through this new fund, we can foster positive mental health and help those in need to access mental health treatment -- now and for years to come. “Through the program I realized that I wasn’t alone. That someone does care and that maybe I needed to talk with someone who I trust about what I was feeling.” To support this cause donate online at www.cfrrr.org or mail a check, made payable to: The Community Foundation, PO Box 208, Fredericksburg, VA 22404. (Please include The Mental Health America Fund in your memo.) If you know anyone who may be in a mental health crisis or at-risk, please contact MHA’s Helpline at 540.371.2704.
Oh What a Night! It’s time to Ring in the Holidays! The Community Foundation’s annual Ring in the Holidays party will be Wednesday, November 30, 2016 from 5:30 PM until 7:30 PM We eagerly await this extra-special annual holiday event. We will mark 15 years of ringing in the holidays with the region’s most generous citizens. We will also celebrate the 20th anniversary of The Community Foundation’s charitable impact growing and stewarding philanthropic assets for our region!
New Tax Credits Opportunity for Donors The Community Foundation is now helping more students in financial need to enroll in independent schools by providing incentive opportunities to donors who support Virginia Education Improvement scholarships. Generous citizens can support low income new students at K-12 schools such as Holy Cross Academy, Fredericksburg Academy, Fredericksburg Christian Schools and more. These gifts, made through The Community Foundation, provide a tax benefit to the donor along with the gift of a life-changing education for new students in financial need. . The foundation is authorized to offer a 65 percent state tax credit on top of current state and federal tax deductions for monetary and marketable securities donations to nonprofits that provide independent school scholarships through the Virginia Department of Education’s Virginia Education Improvement Scholarships Tax Credits Program. Saving Money While Serving Children By providing scholarships to children in need, individuals and businesses can achieve tax savings two ways: 1. For the year of the donation, they may take a deduction against their net income as a charitable donation on both their federal and state income taxes. • The tax reduction equals the contribution amount times the tax rate of the applicable tax (federal or state). • Subject to rules governing deductibility of charitable contributions. 2. For the year of the donation, they may also take a credit against Virginia taxes. • Tax reduction equals 65 percent of the amount of the donation. • Credit is non-transferable. • Credit may not exceed the tax liability but may be carried over for five succeeding years. 2
Businesses can claim the credit against: • Corporate Income Taxes • Virginia Bank Franchise Tax • Virginia Insurance Premiums License Tax • Virginia Public Service Corporations Tax • Personal Income Taxes via pass-through from S-Corporations Individuals can claim the credit against • Personal Income Taxes Highlights of the Education Improvement Scholarships Tax Credits Program • Minimum donation is $500 per year; maximum donation is $125,000 per year for an individual. There is no limit for businesses • To be eligible for a scholarship, a student either must: • Have attended a Virginia public school for the prior year, • Be eligible to enter kindergarten or first grade, • Not have been a resident of Virginia during the preceding year, or
• Be a prior recipient of a scholarship foundation scholarship. • Students must have a family income of less than 300 percent of poverty or, in the case of a student with a disability, a family income of less than 400 percent of poverty. • A donor is not permitted to designate a specific student to be the recipient of a scholarship. How to Donate To take advantage of this opportunity, contact The Community Foundation. • The foundation will complete and submit a pre-authorization form on your behalf. • You will receive a pre-authorization notice from the Virginia Department of Education to include with your gift. • Once notified, give your gift of cash or securities through The Community Foundation within 160 days. • The foundation will notify the Department of Education of the authorized gift and, upon receipt, the Department of Education will issue a tax credit certificate directly to you.
The Community Foundation is authorized to offer a 65 percent state tax credit on top of current state and federal tax deductions.
Please contact Lisa Biever or Ali Thomas at 540.373.9292 if you have questions regarding this program, or email lisa.biever@cfrrr.org or ali.thomas@cfrrr.org.
Education is a cornerstone of vibrant communities. One of The Community Foundation’s strategies for preserving and growing the quality of life in our region is to strengthen access to educational opportunities.
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Youth in Philanthropy Reloaded!
The Community Foundation considers local young people an under-utilized community asset.
New for 2016, Youth in Philanthropy, affectionately known as YIP, will award one grant of $10,000 – the single largest grant awarded since YIP began – to the nonprofit with the most impactful youth-led or youth-serving program or project! The local high school students who serve as YIP member grant reviewers have embarked on in-depth evaluation of each grant proposal, conducting site visits and extensive interviews with the top applicants. The Community Foundation considers local young people an under-utilized community asset – not just “when they grow up” but today as well. Their viewpoint gives a fresh and thoughtful perspective to foundation grantmaking. In return, The Community Foundation provides extensive training and first-hand experience in philanthropy and leadership.
YIP Grants Make a Difference “We would like to express our sincerest appreciation for the grant programs of The Community Foundation.” Karen & Greg Sokolowski
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YIP awarded a $5,000 grant to the disAbility Resource Center to kickstart their Self-Advocacy and Independent Living (SAIL) program. The SAIL program offers disabled teens and young adults the social and life skills to be both independent and successful. Adam Sokolowski is one such teen. On the Autism Spectrum and effected by additional diagnoses as well, many wondered if Adam could even participate in the SAIL program. One year later, thanks to disAbility Resource Center and the support of generous donors who invest in Youth in Philanthropy, Adam is able to raise his hand in group, answer questions and even dance. This is huge for a young man who has few other opportunities to interact with peers!
Youth in Philanthropy would like to recognize Doug Stewart, a steadfast donor to this program for more than 10 years.
Community Foundation vs. Private Foundation
Establishing a fund with The Community Foundation has distinct advantages over a private foundation.
The costs, ongoing administrative burdens, quarterly tax payments, mandatory pay-out rates and reduced tax benefits of private foundations often prompt individuals and families to search for an alternative. Establishing a named fund at The Community Foundation often meets the needs of donors more efficiently and effectively.
Money determines how you live, how you support your family, how you will retire, how you are taxed and how you share with others. It also says a lot about how hard you have worked and how committed you are to making good decisions.
Establishing a fund with The Community Foundation has distinct advantages over a private foundation. When we talk about these issues, we are discussing a very serious subject – money.
We take the responsibility of your investment with us as an honor, and we continually work to ensure that donors are happy with fund service and how grants are distributed.
Things to Consider
Fund with Community Foundation
Create Private or Corporate Foundations
Organization
Established (1997)
Must establish
Tax Exempt
501(c)(3) Status
Must establish with IRS
Funds Required
$10,000 minimum
Experts recommend $10 million minimum
Selection of Grantees
Donor, family or his/her advisory committee recommends grantees
Donor specifies grantees
Tax Deductibility of gifts
a) Up to 50% of donor’s Adjusted Gross Income (30% with appreciated assets) b) Excess may be carried over for five years
Limited to 30% of donor’s AGI (20% with appreciated assets)
Federal approvals, restrictions and special taxes
a) Approved by IRS b) No payout requirement c ) No federal excise tax
a) Must receive IRS approval b) IRS requires 5% of assets to be paid out annually c) Fund is charged 2% federal excise tax on income unless strict requirements are met d) Greater incidence of IRS field audit
Legal documents for creation of, foundation designation of funds and grant awards
In place
Must create
Office
In place
May need to obtain
Staffing
In place
May need to obtain
Accounting
In place
Must obtain
Tax Return (state and federal)
Community Foundation prepares
Must prepare
Public Report
Report to public made annually
Must prepare reports for the general public
Knowledge of Potential Grantees
Community Foundation provides
Must develop
Grant Evaluation Process to Ensure Donor’s Intent Satisfied
In place
Must develop
Public Recognition for Donor
Fund may be named or anonymous
Must provide or rely on grantee organization
Director/Officer Liability Insurance
In place
Must obtain
Investment of Assets
Finance Committee oversees investment policies
Must establish policies and select investments
Administrative Fee/Cost
1%
Substantial costs; plus 2% federal excise tax on income
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Your Community Thanks You! $200,000 Raised to Benefit our Region – Now and In the Future! Thank you to each of these donors who responded to the call and made a gift during the Davis Initiative. Board President (2015/2016) Bruce Davis and his wife Sandy offered a $100,000 matching challenge gift to grow The Community Foundation’s Youth in Philanthropy and Community Enrichment Funds. Area donors responded in force donating an additional $100,000 to preserve and grow our community’s vitality now and in the future. On behalf of The Community Foundation Board, thank you once again Sandy and Bruce for your generosity and leadership and thank you to each Davis Initiative donor.
Challenge Gift Mr. and Mrs. Bruce L. Davis
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Community Enrichment Fund Donors Ms. Rebecca Adamson Anonymous Mr. and Mrs. Stephen V. Batsche Dr. Joanne Beck Mr. and Mrs. Wayne L. Harman Dr. and Mrs. Daniel M. Hoffman Kaeser Compressors, Inc. Ms. Valerie Lewis Mr. and Mrs. Wesley G. Marshall Mrs. Wycliffe G. McClure Ms. Rachel Garbow Monroe Mr. Patrick Moore Mr. and Mrs. Donald H. Newlin Mary Jane O’Neill Mr. Charles Price Ms. Betty Purtell Ms. Dorothy Rice Ms. Wendy Rodriguez Mr. and Mrs. Joseph Schmidt Mr. and Mrs. Paul A. Simpson
Youth in Philanthropy Fund Donors Mr. and Mrs. Edward Allison Anonymous 1 Anonymous 2 Anonymous 3 Mr. and Mrs. Kevin L. Barnes Dr. Joanne Beck Dr. Jeffrey H. Boutwell The Sara P. Boutwell Memorial Fund Dr. and Mrs. Matthew H. Caspersen Dr. Leah K. Cox and Mr. Timothy O’Donnell Dr. and Mrs. Harry D. Dickinson Dr. Andrew Dolby and Ms. Michelle Crow-Dolby Dr. Barbara Ehman Mr. and Mrs. John F. Fick III J.F. Fick, Inc. Mrs. Barbara Forbush Ms. Stephanie Hanchey Dr. and Mrs. Howard P. Heppe Mr. and Mrs. Ronald H. Holmes, Jr. Mr. and Mrs. Stephen T. Hu Dr. David F. Huddle Kaeser Compressors, Inc. Mrs. Beverley G. King
Mr. and Mrs. Wesley G. Marshall Mr. and Mrs. W. Richmond McDaniel Mrs. Jennalee R. McNally Ms. Teri McNally Ms. Sara Poore Mr. and Mrs. Paul A. Simpson Mr. Douglas G. Stewart Mr. and Mrs. William J. Taczak Ms. Bonnie Green Thompson Mr. and Mrs. Aric N. Wagner Ms. Susan Williams Mrs. Alma Withers Orthopedic and Sports Physical Therapy Associates The Dulcie H. Potter Memorial Fund Mr. and Mrs. W. Bernard Mahon Mr. and Mrs. Bradley A. Repp
New Faces on The Community Foundation’s Board
Stuart A. Ashton, Jr.
Daniel I. Hansen
Gregory R. Mueller
“I cannot tell you how rewarding it has become to be part of The Community Foundation. My wife Mindy and I moved back into this region over ten years ago but it wasn’t until we were invited to review scholarship applications last year that we realized the magnitude of outreach this exceptional organization is achieving. Seeking to know and do more, I asked The Community Foundation how I could help. Now as a board member I am on a personal campaign to inform everyone I meet about this critically important instrument of love and concern for our region. I encourage everyone to find a way to become part of this incredible effort.”
”Someone once said ‘serving is love made visible’. I love people, and my family has been serving the people of Planning District 16 for three hundred years. As a returning board member, I have witnessed the teamwork of the board and how together, we have been able to weave broad scale solutions in our community. The Community Foundation is an exceptional business model to focus on the totality of a community’s needs. I care about our community. I am honored to be reelected to the board and I look forward to serving our community with my fellow board members.”
“I am proud to be a part of an organization in which the single purpose is to serve the common good. Every community should have a community foundation. In mobilizing and connecting those looking to engage in charitable works with those in need, The Community Foundation is on the front lines of understanding, knowing and fulfilling the needs of organizations and people in the Rappahannock region.”
We are grateful to these outgoing board members for their service to the Foundation and the communities we serve. Bruce Davis Jan Taczak Michael O’Malley Nicky Seay R. Leigh Frackelton, Jr.
John F. McManus
“Having been in on the ground floor of creating this organization, I am determined to follow through to make sure that it becomes a mature and lasting philanthropic community asset for years in the future. As an attorney, I don’t hesitate to recommend the foundation to donors who want to create maximum advantages -- both for the client and for our region.”
The Community Foundation is the answer to the question: how can we help? The foundation has provided me and my family with the opportunity to be actively engaged in improving the welfare of others in the Rappahannock region. My three sons learned the importance of serving others and giving of their time for charitable pursuits by participating in the foundation’s Youth in Philanthropy program. My wife Deborah and I established a donor advised fund with the foundation. I also have had the pleasure of working with great people on the foundation board, including as Board President. The foundation serves a critical role in encouraging and facilitating charitable work for the benefit of our community.
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Oh What a Night! Ring in the Holidays Sponsors
The Community Foundation’s annual Ring in the Holidays party will be held Wednesday, November 30, 2016 from 5:30 PM to 7:30 PM
Tent Sponsors Cullen, Inc. / Mary Jane O’Neill Hagerman Group
Dee and Eddie Hwang JON Properties Keystone Coffee & Auto Spa Patti and Bill Lynch Patrick and Mary Elizabeth McManus Mason Investment Advisory Services, Inc. Brooke Miller Real Estate Charmaine and Greg Mueller Orthopedic and Sports Physical Therapy Associates Payne, Inc. Rappahannock Restoration Rappahannock Electric Cooperative Roxbury Mills Salon 730 Neil and Shaun Sullivan Truong Rehabilitation Center Tulip Salon & Spa | Aveda Kitty and Ben Wafle Waterloo Farm
Bar Sponsor Access Eye / Arash and Michele Mansouri Speakeasy Lifecycle Construction Services Platinum Sponsors Anonymous BB&T Beveridge Seay, Inc. / Nicky Seay Cooper Financial Group / Douglas Cooper & Joshua Cooper Bruce and Sandy Davis J. F. Fick, Inc. Hirschler Fleischer Kaeser Compressors PBMares Sands Anderson Stafford Printing Surgi-Center of Central Virginia Union Bank & Trust Wack General Contractor Gold Sponsors Cushman & Wakefield / Thalhimer Dynovis Ben Maxwell / Edward Jones Investments Goodloe Asphalt, LC Heritage Wealth Advisors Cindy and Tim Hughes In the Red Catering Parties by Dori Stifel | Don Newlin Wagner Wealth Management of Davenport & Co. Wells Fargo Business Banking / Wells Fargo Private Bank Silver Sponsors Applied Technology, Inc. Heather and Jason Cohen Cox Family Dental and Orthodontics CB Richard Ellis Field at Snowden Farm A. Hickman Design Germanna Community College
Infinity Technologies Kelly and Fitz Johnson The Keddie Group of Davenport & Co., LLC Tricia and Charles McDaniel Missy and Steve Norair Parrish Snead Franklin Simpson, PLC Peoples Community Bank Doug and Betsy Quarles Janny and Shane Sims The Stadulis Family Synergy Periodontics & Implants / Lillie Pitman, DMD and Thanos Ntounis, DDS, MS Marilyn and Bobby Thalhimer Van Zandt Restorations Chris and Jodie Vaughn Virginia Partners Bank Bronze Sponsors Affordable Suites of America / Fredericksburg, Quantico Mona and Jack Albertine Atlantic Builders, Ltd Allergy Partners of Fredericksburg / Jon Mozena, MD, Jonathon Posthumus, MD, Mark Wenger, MD, Bonita Wilson, MD Bankers Insurance, LLC Rob Billingsley / Northwestern Mutual Wealth Management Company Bowling, Franklin & Co., LLP Stephanie and Matthew Caspersen / Rappahannock Orthodontics Community Bank of the Chesapeake Kostas Constantine�/ Fredericksburg Orthopaedic Associates, P.C. John C. Cowan Theresa Y. Crawley, DDS Dameron Home Builders The DuMont Family Jenny and Dudley DuPuy Fidelity Bank Mortgage Mary Carter Frackelton Fredericksburg Smile Center Debby and Ross Girvan Hallberg & O’Malley Financial Dr. Howard Heppe Hilldrup Properties, Inc. The Hoffman Family / Fredericksburg Stacy Horne / Allstate Utility Professional Services, Inc. / Fred & Tanya Howe
Thank you to our inimitable event committee! Matt Caspersen, Sally Harman, George Harvey, Andrea Hickman, Tim Hughes, Kelly Johnson, Michele Mansouri, Greg Mueller, Chris Repp, Jamie Scully, Nicky Seay, Jon Van Zandt
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