Community Foundation of the Gunnison Valley

1. Community Foundation of the Gunnison Valley Overview of the Kinds of Funds we hold with a special emphasis on Donor Advised Funds (and some giving stats)

2. Kinds of Funds that a donor might consider at a Community Foundation • Unrestricted • Field of Interest • Designated • Agency • Scholarships • Capital • Fiscal Sponsorships • Donor Advised

3. Unrestricted(we love this!) • A donor who chooses an unrestricted fund(this would typically be an endowment – and, no, we don’t have one of these yet) leaves the distribution of grants to the discretion of the Community Foundation’s Board.

4. 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 Fund

5. Designated • Support for one or more specific organizations of the donor’s choice. • Gunnison Valley School Fund • RPD Education Fund • Marie Hausler Memorial Fund

6. Agency • Nonprofit 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 Forever • Gunnison Arts Center • Kids Kount (and more)

7. Scholarship • Established to provide educational assistance to students.  They are tailored to meet the intent of individual donors and are frequently established as memorials. • Defensive Driving • Gunnison Country Association of Realtors • Gunnison Memorial Scholarship

8. Capital • On a case-by-case basis, the Foundation will consider holding capital funds for agencies in the valley with active building campaigns. • Partners 8th Street School • Trailhead Museum for CB Center for the Arts Expansion • Six Point Building Campaign

9. Fiscal Sponsorship • A 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 Festival • Gunnison Skatepark Project • Ranchers and Sportsmen Together for the Hungry (and more)

10. Let’s focus on Donor Advised Funds Helping donors stay involved

11. Donor Advised Funds • In 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.

12. Our donor advised funds • 24 funds • 66% of our total assets

13. This year’s goals for DAFs • Add 3 new funds • Add $100,000 to existing funds

14. Donor Advised Funds • One of the fastest growing forms of philanthropy • Traditionally a product of community foundations • Until financial institutions realized their value (Schwab, Fidelity, etc. • So too, university foundations, United Jewish Communities and more

15. DAFs How they work Donor makes a gift • We set up a fund in name of donor’s choosing • Donor receives immediate tax benefits • Gift is invested in one of our funds • Donor recommends uses for their fund, taking advantage of our grantmaking expertise if they wish • We handle all administrative duties

16. DAFsWho might choose? A person who: • Has multiple charitable interests • Wants to make a difference • Likes the personal service of staff • Interested in family philanthropy A business that: • Desires to be recognized as an involved citizen • Inundated with charitable requests

17. DAFsWhen opportunities arise Helping donors realize their charitable goals • Year end tax planning • Sale of a business • Family inheritance • Private foundations running out of steam • Estate planning for end of life

18. DAFs What kinds of grants can be made? • A grant to any 501(c)(3) nonprofit • In County . . . or out of County . . . • Gift to your church • Gift to your alma mater • Gift to a governmental entity for a charitable purpose

19. DAFs What can’t be funded? • Anything that gives the donor personal benefit - • Auction items • Tickets • Event Sponsorship • Scholarships that benefit your own child

20. DAFsSome of the Benefits Donor enjoys • Involvement in grantmaking • Flexibility to pursue multiple interests • Maximum tax benefits • Ease of use And as we like to say to our Donor Advisors: Your priority is our priority. Our staff is your staff.

21. DAFs Why 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 strategy • Build 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 can’t do that with a check or through a private foundation

22. Donor Advised Funds and Private Foundations Comparing 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

23. DAFs How easy is it, really . . . ?? • Couple of hours to set up a fund • 2 minutes to make a recommendation

24. DAFs Strategies to get the word out! • Establish process for working with Professional Advisors • Hold at least one Professional Advisor event per year • Provide materials to Professional Advisors

25. DAFs Strategies to get the word out, con’t • Invite current advisors to talk with their friends • Donor advisor article in every newsletter • Encourage donor referrals from • Current advisors • Professional advisors • Tell stories of special gifts to the community • Follow up personally and appropriately

26. DAFs Board members will: • Embrace their role in “marketing” donor advised funds by • Being prepared to speak about the value of Donor Advised funds • Referring potential advisors to staff • Hosting meetings and events

27. DAFs ED and Development Staff will: • Profile good candidates from our database • Manage Professional Advisor Events • Engage donors and prospective donors on a personal basis • Monitor and measure progress • Promote DAFs clearly and consistently

28. We’re often asked . . . . . . how do we compare in giving? Get ready for some stats from the brand spanking new Chronicle on Philanthropy study:

29. GIVING STATS Giving profile for the United States Total contributions $135.8-billion Median contribution $2,564 Median discretionary income $54,783 Percent of income given 4.7%

30. STATS GIVING PROFILE FOR COLORADO Total contributions $2.4-billion Median contribution $2,317 Median discretionary income $55,577 Percent of income given 4.2%

31. STATS COLORADO 4.2% percent of income given $2,317/$55,577 UNITED STATES 4.7% percent given $2,564/$54,783

32. STATS GUNNISON COUNTY 3.7% percent of income given $2,031/$54,241 Median contribution/Median income

33. STATS 81230 ZIP CODE 3.6% percent of income given $1,835/$51,517 Median contribution/Median income

34. STATS 81224 ZIP CODE 3.6% percent of income given $1,835/$51,517 Median contribution/Median income

35. STATS SUMMARY Colorado lags behind the Country Gunnison County lags behind the State All to say . . . There is room to grow!

36. Community Foundation of the Gunnison Valley Here for Good