Community Foundation could change the future
The concept of a community foundation, an organization that encourages local philanthropy and engages citizens in strengthening their community, is spreading in Nevada.
The Community Foundation of Western Nevada has submitted a grant proposal to the USDA to work with five Nevada counties to establish rural community foundations. Whether or not the grant is awarded, rural community foundations are taking hold in the state buoyed by visionary citizens, supportive local government, and business.
The Community Foundation of Elko County became a reality in January. It began by taking advantage of the Community Foundation of Western Nevada’s infrastructure, which afforded a fast, economical start — with low overhead. As an affiliate fund, the CF of Elko County will have the responsibility to fundraise and to make grants without the burden of investing and managing the funds and with the advantage of the Community Foundation of Western Nevada’s excellent management structure.
The advantages for Elko County are clear. Small towns in rural areas have precarious economies dependent upon weather patterns, natural resource availability, and the success of a few businesses hiring the majority of residents. The citizens of Elko and the surrounding communities have much to gain from an unrestricted charitable endowment to benefit their region forever. They have elected their own local board with knowledge of local issues and needs. Elko citizens will be asked to leave a gift, usually a small percentage of their estate, to the CF of Elko County in their wills or trust as well as contributions now.
The USDA has estimated that the transfer of wealth between generations in the coming decades is a clear opportunity to prepare small communities for the future. No one knows what the future holds, but we do know the Elko region will have a relevant, available charitable resource to help meet its needs.
Foundation officer receives Gift advisor designation
Tracy Turner, PhD, Chief Philanthropy Officer at the Community Foundation earned the Chartered Advisor in Philanthropy® Designation from the Richard D. Irwin Graduation School of The American College, Bryn Mawr, Pennsylvania. The CAP® curriculum addresses the advanced design, implementation, and management of charitable gift techniques and strategies, as well as philanthropic tools including charitable trusts, private foundations, supporting organizations, donor-advised funds, pooled income funds and charitable gift annuities.
As the Community Foundation of Western Nevada is rapidly expanding to be the premier charitable resource for its region, a second expert along with CEO, Chris Askin is appreciated. Turner’s knowledge and expertise will help clients and professional advisors give more efficiently. Tracy Turner is a resource for other nonprofits in the area who ask for help with complicated gifts.
In the charitable gift process, it is best to have three parties included early in the planning meetings. The three parties are the donor, their professional advisor, and a gift planning expert from the Community Foundation. The professional advisor remains in control of the client relationship. The gift planning expert helps the advisor facilitate charitable gifts that benefit the client’s tax and life situation while firmly keeping the end-goal be it updated classroom technology, open space preservation, or reducing hunger among local seniors on in everybody’s mind.
Free Family Estate Planning Series begin March 23
Is your family estate plan organized? Do you have a signed will or trust?
Most of us do not have a degree in charitable gift planning nor have we passed “estate planning 101.” Tracy Turner is one of only 800 people in the United States who earned the CAP®. When beginning to think about preparing our estate plan, tough questions come up that make it easy to procrastinate. Here is a free and reputable way to get started on something most people put off until it is too late.
KNPB and the Community Foundation are underwriting for the 7th year, the free Family Estate Planning Series to help local citizens think about preparing their estate plans and to encourage them to include a gift to their favorite charity when doing so. More than 1,000 people have completed the series, which has been highly recommended by past participants. KNPB CEO Kurt Mische facilitates the series.
Seven free weekly 90-minute workshops are held at the Sierra View Library public room on Wednesdays at 10:30 a.m. or 1 p.m. Each class is taught by a volunteer local professional in the field. Attorneys and trust professionals donate the time to teach the class and create their own materials. Subjects covered include Wills, Probate, and Trusts; Responsibilities of Fiduciaries and Executors; Power of Attorney and Health Care Directives; and Estate, Gift, and Transfer Tax. Workshop participants are given a binder containing class materials and a valuable Wills Guide. Completing the Wills Guide will save participants time and money by helping them organize needed documents and facts before meeting with their attorney.
To register for these valuable free workshops call the Community Foundation of Western Nevada at 775-333-5499.
For more information, contact the Community Foundation at 50 Washington St. Suite 300, Reno, NV 89503, 775-333-5499, nevadafund.org.
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