Community Foundation of the Gunnison Valley

Community Foundation of the Gunnison ValleyOverview of the Kinds of Funds we hold with a special emphasis onDonor Advised Funds

(and some giving stats)Kinds of Funds that a donor might consider at a Community FoundationUnrestricted Field of InterestDesignatedAgency

Scholarships

Capital

Fiscal Sponsorships

Donor AdvisedUnrestricted (we love this!)A donor who chooses an unrestricted fund (this would typically be an endowment and, no, we dont have one of these yet) leaves the distribution of grants to the discretion of the Community Foundations Board.Field of Interest Donors who wish to make an impact in a specific area of interest or in broad areas of concern, i.e. the arts or human services. Foundation staff and board of directors identify specific grantee organizations.Slate River Alternative Education and Arts FundDesignatedSupport for one or more specific organizations of the donors choice.

Gunnison Valley School FundRPD Education FundMarie Hausler Memorial FundAgencyNonprofit organizations can ensure their own futures with an endowment that provides perpetual support for operations. Agency endowment funds may be started by the agency itself or by a generous donor.4-H ForeverGunnison Arts CenterKids Kount (and more)ScholarshipEstablished to provide educational assistance to students. They are tailored to meet the intent of individual donors and are frequently established as memorials.Defensive DrivingGunnison Country Association of RealtorsGunnison Memorial ScholarshipCapitalOn a case-by-case basis, the Foundation will consider holding capital funds for agencies in the valley with active building campaigns.

Partners 8th Street SchoolTrailhead Museum for CB Center for the Arts ExpansionSix Point Building CampaignFiscal SponsorshipA short-term charitable fund for groups not yet designated as a 501(c)(3) organization that provides a service that benefits our community.

Crested Butte Film FestivalGunnison Skatepark ProjectRanchers and Sportsmen Together for the Hungry (and more) Lets focus onDonor Advised Funds

Helping donors stay involvedDonor Advised FundsIn short, Donor Advised Funds allow donors to actively participate in the grant-making process over time. The donor and those named by the donor may recommend grants to the Board. This type of fund affords the flexibility to change the organizations a donor supports through the years.Our donor advised funds24 funds66% of our total assetsThis years goals for DAFsAdd 3 new fundsAdd $100,000 to existing fundsDonor Advised FundsOne of the fastest growing forms of philanthropyTraditionally a product of community foundationsUntil financial institutions realized their value (Schwab, Fidelity, etc.So too, university foundations, United Jewish Communities and moreDAFs How they workDonor makes a giftWe set up a fund in name of donors choosingDonor receives immediate tax benefitsGift is invested in one of our funds Donor recommends uses for their fund, taking advantage of our grantmaking expertise if they wishWe handle all administrative dutiesDAFsWho might choose?A person who:Has multiple charitable interestsWants to make a differenceLikes the personal service of staffInterested in family philanthropy

A business that:Desires to be recognized as an involved citizenInundated with charitable requests

DAFsWhen opportunities ariseHelping donors realize their charitable goals

Year end tax planningSale of a businessFamily inheritancePrivate foundations running out of steamEstate planning for end of lifeDAFsWhat kinds of grants can be made?

A grant to any 501(c)(3) nonprofitIn County . . . or out of County . . . Gift to your churchGift to your alma materGift to a governmental entity for a charitable purposeDAFsWhat cant be funded?

Anything that gives the donor personal benefit -Auction itemsTicketsEvent SponsorshipScholarships that benefit your own childDAFsSome of the BenefitsDonor enjoysInvolvement in grantmakingFlexibility to pursue multiple interestsMaximum tax benefitsEase of use

And as we like to say to our Donor Advisors:Your priority is our priority. Our staff is your staff.DAFsWhy use a donor advised fund instead of just writing your own checks?

More strategic giving Those who use the DAF instrument think more about their giving strategyBuild your fund over time and make more impact with your gifts Leave some of your estate to your fund and live forever! The fund will forever carry your name.You can give anonymously through your fund if you want you cant do that with a check or through a private foundation

Donor Advised Funds and Private FoundationsComparing the differences

Donor Advised Fund

Cash gifts, deduct 50% AGI

Deduct 30% on long-term appreciated securities

Easy to Establish (few days)

No minimum payout

Grantmaking expert advice

Private Foundation

30% AGI

20% AGI on long-term appreciated securities

Months or more to establish

5% minimum payout

On their own

1 2% Excise tax

DAFsHow easy is it, really . . . ??

Couple of hours to set up a fund2 minutes to make a recommendationDAFsStrategies to get the word out!

Establish process for working with Professional AdvisorsHold at least one Professional Advisor event per yearProvide materials to Professional Advisors

DAFsStrategies to get the word out, cont

Invite current advisors to talk with their friendsDonor advisor article in every newsletterEncourage donor referrals fromCurrent advisorsProfessional advisorsTell stories of special gifts to the communityFollow up personally and appropriately

DAFsBoard members will:

Embrace their role in marketing donor advised funds byBeing prepared to speak about the value of Donor Advised fundsReferring potential advisors to staffHosting meetings and eventsDAFsED and Development Staff will:

Profile good candidates from our databaseManage Professional Advisor EventsEngage donors and prospective donors on a personal basisMonitor and measure progressPromote DAFs clearly and consistentlyWere often asked . . . . . . how do we compare in giving?

Get ready for some stats from the brand spanking new Chronicle on Philanthropy study:GIVING STATSGiving profile for the United States

Total contributions $135.8-billionMedian contribution $2,564Median discretionary income $54,783Percent of income given 4.7%STATSGIVING PROFILE FOR COLORADO

Total contributions $2.4-billionMedian contribution $2,317Median discretionary income $55,577Percent of income given 4.2%

STATSCOLORADO4.2% percent of income given$2,317/$55,577

UNITED STATES4.7% percent given$2,564/$54,783

STATSGUNNISON COUNTY

3.7% percent of income given$2,031/$54,241Median contribution/Median income

STATS81230 ZIP CODE

3.6% percent of income given$1,835/$51,517Median contribution/Median income

STATS81224 ZIP CODE

3.6% percent of income given$1,835/$51,517Median contribution/Median income

STATSSUMMARY

Colorado lags behind the CountryGunnison County lags behind the State

All to say . . . There is room to grow!Community Foundation of the Gunnison ValleyHere for Good