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Building a Stronger Community Through Philanthropy

Building a Stronger Community Through Philanthropy. Linda Reed, President & CEO Cathy Cooney, Program Director Montana Community Foundation. What is a Community Foundation?. Independent nonprofit organization with endowed funds from many donors Philanthropic savings account

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Building a Stronger Community Through Philanthropy

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  1. Building a Stronger Community Through Philanthropy Linda Reed, President & CEO Cathy Cooney, Program Director Montana Community Foundation

  2. What is a Community Foundation? • Independent nonprofit organization with endowed funds from many donors • Philanthropic savings account • Method to develop community assets • Place for donors to leave a legacy

  3. How does a community foundation benefit a community? • Helps donors support community in permanent way. • Keeps local wealth & assets in the community. • Supports changing needs and projects • Develops communityleadership (convener/catalyst role) • Provides matching money for state, federal grants

  4. What is the Philanthropic Divide? • Huge gap between states with most foundation assets and the least. • Montana ranks 49th in foundation assets. • Foundation giving here is $28 per capita vs. $117 for U.S.

  5. Community Foundations in Montana • Almost 70 community foundations in Montana • MCF has 45 affiliates, including 2 added this year • At least three CFs more in development. • Foundations in small communities are more successful than in urban areas. • We are part of a nationwide explosion in rural community foundations.

  6. Montana Community Foundation • Largest Community Foundation in Montana • Approximately $63 million in total assets • 500+ endowment funds • $2 million in grantmaking per year (mostly designated)

  7. Why should we consider a community foundation now? • Biggest Intergenerational Transfer of wealth in history is happening NOW. • Renewal of the State Endowment Tax Credit. • Montana CF has a programs, financial resources to help create and build a local community foundation.

  8. What does the Intergenerational Transfer of Wealth mean to Montana? • If we don’t capture assets for communities in Montana, we are exporting our wealth to other states. • The Transfer of Wealth between 2006-2016 is estimated at $8.84 billion. • 5% capture means $444 in endowed assets and $22 million a year in grants.

  9. Panel Discussion • Monty Sealey, Musselshell Valley CF • Tod Kasten, Redwater CF • Peggy Iba, Greater Glendive CF • Corlene Martin, Rocky Mountain Front CF

  10. Questions for Presenters • When was your foundation established? • Why did your community start a community foundation? • What impact has your foundation had? • What is your long-term vision for your foundation? • What opportunities and challenges have you experienced?

  11. What can the Montana Community Foundation do to help? • Endowment management • 501(c)(3) status • Gift acknowledgement • Maintain donor data base • Complete tax forms (IRS 990) • Statements

  12. What type of programs does Montana Community Foundation offer affiliates? • LCF+ program • Operating grant program • Leadership grant program • Free membership to Montana Nonprofit Association • On-going technical assistance, training, including resources from the national Council on Foundations • Free fall workshops, with mini-grants for board participation • Free web page on the mtcf.org website

  13. Want to know more about starting a community foundation? Contact Cathy Cooney, Program Director at Montana Community Foundation, for more information or to arrange a presentation in your community. ccooney@mtcf.org (406)755-4525

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