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Best Practices: Donor Incentives

Best Practices: Donor Incentives. Strategies Implemented by the Elma Area Community Foundation. Larry McGee , Vice Chair Elma Area Community Foundation. m. l. E. a. Area Community Foundation In the beginning. the. beginning.

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Best Practices: Donor Incentives

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  1. Best Practices: Donor Incentives Strategies Implemented by the Elma Area Community Foundation Larry McGee, Vice Chair Elma Area Community Foundation

  2. m l E a Area Community Foundation In the beginning

  3. the beginning • Elma City Council included endowment growth as part of their Comprehensive Plan • Recognized the importance of a Community Foundation to the viability of their community • Understood need to encompass other communities as well(Lourdes, Maple Leaf, Cecilia)

  4. the beginning Recognized opportunities to enhance philanthropic efforts: • Gifts were not staying local • Transfer of Wealth study showed an urgency in terms of timeframe for transferred gifts. • Changing community needs require unrestricted support • Wanted to move community from “crisis support” to long term growth and development

  5. the beginning • In 2004, formed a leadership team which met monthly • Chose to affiliate (CF of W/CF & NE IA) • Organized to ensure diversity across the community • Developed a marketing program to grow Foundation’s ability to serve the community

  6. t h e strategy for awareness

  7. the Elma Area Community Foundation’s Outreach strategy IDEA: Matching Funds • Matching fundswere secured from the local community development group to encourage unrestricted gifts to the Elma Area Community Foundation • Endow Iowa Tax Creditswere emphasized for donors-which was in addition to normal charitable deductions RESULT: 7 Named Unrestricted Funds established with the Elma Area Community Foundation

  8. our the facts Elma Area Community Foundation’s Outreach Our Local Committee strategy IDEA: Partner with Local Bank • 0% Anticipated Tax Savings Loanswere available to potential donors. • Give NOW…and later.The program allowed donors to contribute to the Elma Area Community Foundation NOW which reduced pledging and leveraged more immediate impact. RESULT: Maximized Immediate Giving

  9. our the facts Elma Area Community Foundation’s Outreach Our Local Committee strategy IDEA: Matching Funds…again! • Matching fundswere once again secured…this time with a $50,000 donation. This incentive to match unrestricted as well as agency endowment or field of interest donations to the Elma Area Community Foundation. • Zero Interest Loans and Tax Creditsare both emphasized to encourage gifts RESULT: Goal of $250,000 in donations to, result in a $325,000 endowment

  10. t h e financial results

  11. financial results ›February 25, 2005 Raised $50,149.44 in unrestricted endowment funds (first donation in August 2004) ›April 2005 Awarded a $25,000 Endow Iowa Matching Grant › September 2006 Balance exceeds $140,000

  12. financial results How it works Expendable Endowment Operations Fund Kendra S. Kleespie Fund for Community Improvement James Michael Whitinger Fund Charitable Unrestricted Fund Hoehne Family Fund McGee Family Fund Darin Boderman Memorial Fund Kenneth C. Roethler Family Fund

  13. financial results This chart shows only growth using $140,000 and not including anymore contributions… but EACF has been working on more contributions.

  14. t h e Community impact

  15. community impact ›March 1, 2006 The Elma Area Community Foundation announced a grant application process. ›June 2006 Awarded more than $4,100 in grant funds to 8 charitable projects

  16. community impact 2006 Grant Awards • City of Elma-Parks and Recreation Department for Grandstand Restoration and Mural Project • Elma Depot Museum-General Support • City of Elma-Beautification Committee for Main St/ Busti Ave. and Flag Memorial, Flower Planting • Elma Area Community Foundation- Outreach/Philanthropic Support • Our Lady of Lourdes Church- Lourdes Activity Committee for the Lourdes Park Revitalization • Elma Public Library- Summer Reading Program • Friends of St. Patricks Chapel of St. Cecelia, Inc.- Repairs and Maintenance • Bridge Corporation- Elma Swim Program For Transportation

  17. community impact ELMA AREA- a Philanthropic Leader • Presented at Iowa Department of Economic Development SMART conference • Presented at Regional Community Foundation Meetings • Served on 2006 Endow Iowa Review Team • Presented at the Northeast Iowa Development Conference in 2006

  18. Thank You! Any questions?

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