Community foundations typically offer various types of funds to cater to the diverse interests and
philanthropic goals of donors.
By establishing or contributing to a fund at a community foundation, individuals, families,
businesses, and organizations can make a lasting impact on their community, support charitable
causes they care about, and benefit from the expertise and infrastructure provided by the community
foundation.
Each fund is typically governed by
specific guidelines and policies to ensure proper stewardship and alignment with the ACE
Foundation and its mission and objectives.
Here are some types of funds offered by the ACE Foundations.
Donating to your local community foundation is an impactful way to support charitable causes in your geographical area. Community foundations are dedicated to addressing the specific needs and challenges of the communities they serve, making them a valuable resource for local nonprofits and initiatives. By donating to a community foundation, you contribute to the betterment of your community and support causes that are close to home. These foundations work closely with local nonprofits, community leaders, and individuals to identify and address pressing needs, promote philanthropy, and create a positive impact.
One significant advantage of donating to a community foundation is the tax benefits you receive as a result of making a charitable contribution. Since community foundations are public charities, your donations may be eligible for tax deductions, allowing you to support causes you care about while potentially reducing your tax liability.Whether you are considering becoming a donor, seeking guidance as a professional adviser, leading a local nonprofit, or simply wanting to contribute to the future of northwest Kansas, connecting with the Greater Northwest Kansas Community Foundation is a vital step towards fostering positive change and building a better tomorrow for your community.
A community foundation is a public charity that focuses on supporting a geographical area to address community needs and supports local nonprofits. When you donate to your local community foundation, you are supporting charitable causes close to home. Because it’s a public charity, you receive the tax advantages of making a charitable contribution. Whether you’re a potential donor, a professional adviser, a local nonprofit director, or someone who is simply concerned about the future of northwest Kansas, connecting with the ACE Foundation is the first step toward a better tomorrow for northwest Kansas!
Anyone can give, and many people come to a point in their lives where they feel inclined to give back. They do so for a number of reasons, all very personal to them. And you do not need to be “wealthy” to give! Whether creating a named fund, contributing to an existing fund, making a gift in memory of a friend or loved one, or making an unrestricted gift to a fund for Greater Northwest Kansas benefit, every person in the community can make a difference.
Everyone can play a significant role in growing the Rawlins County ACE Foundation and making a positive impact in the community. Here are some additional ways you can actively participate and contribute:
Remember, your participation, no matter how big or small, can make a difference. By actively engaging with the ACE Foundation and supporting its work, you contribute to the betterment of Rawlins County, fostering growth and creating opportunities for future generations.
Why utilize a community foundation to facilitate charitable giving?
1. Commit to Give
Make a conscious decision that you wish to give a financial gift to a charitable organization which most interests you and/or your family.
2. Choose What to Give
You may wish to give a one time cash gift, share in a bountiful harvest, designate a portion of a life insurance policy to a charity, include the charitable cause in estate planning, make distributions from an IRA to a charity, name a charity in a transfer on death deed, or one of many other giving options.
3. Determine How to Give
Work with your local community foundation board or GNWKCF to determine the best way to give that aligns with your personal goals: give to an existing fund or establish a new fund or scholarship.
4. Decide When to Give
Work with your accounting or legal services to determine the best time to donate to maximize your charitable giving.
Donors receive charitable gift receipts for the contributions to their established DAF. The fund is normally named in someone’s memory or established as a “Family Fund”, however, the donor(s) may personalize as they wish. The donor(s) are setup as the advisors to their Fund, which allows them to make all grant recommendations from their DAF. Grant recommendations must be to qualifying charitable 501(c)(3) organizations, educational, government or religious entities per IRS rules. The donor(s) may name succeeding generations as successor advisors or transition it to the Foundation to advise over upon donor(s) death.
Donating to an endowment is much different than donating to a specific cause or project. When you donate to an endowment, your donation lives on and gives back to the community every year. Your initial donation will remain in the endowment, but the interest that your donation makes will be given out in grants. We give out grants EVERY year! The principal in the endowment remains intact and is never touched. Click here to apply for grants.
The Dane G. Hansen Foundation awards up to $50,000 in grants in our county each year. The Rawlins Couty Future Fund is our own local endowment that the ACE Foundation uses to award grants to better our community.
The Dane G. Hansen Foundation's offer to provide a $1 to $1 match up to $50,000 for the endowment fund presents an excellent opportunity to maximize the impact of donations. With the matching program, each donation made during December will be doubled, effectively doubling the support for Rawlins County. If the fundraising goal of $50,000 is reached, the foundation will provide a "bonus gift" of $50,000 to the local operating fund. This bonus grant will bring the total potential gift to $100,000. By achieving this milestone, the community will have a grand total of $150,000 to support various initiatives and projects benefiting Rawlins County. This year Patterson Foundation as added up to $70,000 dollars match if we can go above our $50,000 goal.
This matching opportunity is a compelling incentive for individuals and organizations to contribute during the month of December. The increased funding can significantly enhance the impact of the endowment fund and the local operating fund, leading to substantial benefits for the community.
Legacy funds are a type of endowed fund that are established to support a specific charitable organization or cause in perpetuity. These funds are often created through planned giving, which involves making provisions in one's estate plans or will to leave a charitable gift to the designated organization.
If you are interested in establishing a legacy fund for the ACE Foundation, there are a few steps you can take. Reach out to the ACE Foundation to express your interest in establishing a legacy fund. They will provide you with the necessary information and guidance on how to proceed.
(as of June 24, 2023)