Leaving A Levacy
Our Mission - The Greater Clark Area Community Foundation is committed to enrich the quality of life in the Clare area by:
- Building an endowment fund for the future.
- Serving donors with many different interests.
- Serving as a resource and catalyst for charitable purposes.
- Assessing and responding to community needs.
We invite you to find out more about the Foundation and how you might give through it to accomplish your philanthropic mission.
|What is the Greater Clark Area Community Foundation?||The Greater Clare Area Community Foundation (GCACF) is a nonprofit, public organization created to attract and distribute charitable funds for the benefit of the Greather Clark area community. These funds are deposited into an endowed, permanent fund.
As a community foundation, the Foundation is a collection of funds from organizations, families, individuals and businesses that seek to improve the quality of life in the Greater Clark area.
Together, these contributions are an effective and growing charitable financial resource with which we can build a better community and enhance the lives of Greather Clark area citizens. To that end, the Greater Clark Area Community Foundation was formed in 2007 by a committee of citizens.
Through a challenge grant presented by the South Dakota Community Foundation (SDCF), the Greater Clark Area Community Foundation is beginning with an initial goal of raising $75,000. Once the goal is reached, the SDCF will contribute $25,000 to Greater Clark's Foundation. Our long term goal is to grow this fund to $1,000,000 or more. Just think what could be accomplished in our community with a $1,000,000 fund earning $50,000 annually.
|What is an "Endowed," or Permanent Fund?||In such a fund the principal is invested by the South Dakota Community Foundation to provide income and growth to meet or exceed inflation. Only a portion of the income is distributed each year so that the fund is never depleted.|
|Who can establish a Fund?||Individuals, families, businesses, and organizations are invited to make contributions to the fund. Establishing a separate, named fund requires a minimum of $5,000, although arrangements can be made to accumulate the fund over a period of time. Gifts of any size may be made to the Community Fund.|
|What types of gifts with the Foundation accept?||Gifts may be given during your lifetime or through a will or estate, or both. Gifts of cash, stock, life insurance, and real estate are the most common. Various forms of trusts, as well as gift annuities, are also accepted.|
|What will happen if I give the Foundation a Charitable Gift?||Your gift is invested by the South Dakota Community Foundation, and distributions are made from fund income to charitable organizations or for scholarships within the Greater Clark community. You will become part of our regular reports on the status of the fund. Most important, the fund will continue to benefit the Greater Clark area forever: you will create a legacy.|
|Why give to the Foundation instead of directly to a Charity?||Gifts to a charity through a fund in the Foundation provide a permanent, reliable stream of income, not a onetime gift that may be expended in the first crisis. If the charity you value today changes in the future, the Foundation will insure that your charitable intent is followed--always. The Foundation will pool your fund with other assets for the greatest return on investment.|
|Are there any other benefits to Fund Donors?||Besides recognition, permanence, and professional management of charitable capital, giving you gift to the Foundation offers:
- Income, estate, and capital gains tax savings; the maximum allowed by law.
- Simplicity: one gift may benefit many charities.
- Accountability: to you and the public.
- Flexibility: your objectives, gift, and timing are all unique and welcome.
|How is the Foundation managed?||Gifts contributed to the Greater Clark Area Community Foundation are held within the South Dakota Community Foundation. The total endowment of nearly $55 million is invested by the SDCF's investment manager. SDCF's 2005 fifteen year average investment return was 9.1 percent.
Grants are made in January of each year as directed by the local Foundation Board. Distributions of up to five percent are limited to the fund's income minus the SDCF administration fee. Excess earnings are deposited in the fund, thus increasing it's value.
|How can I Contribute?||Anyone can contribute any amount to the Greather Clark Area Community Foundation (CACF). One-time contributions, five-year pledges, estate planning and gifts of assets such as stock, real estate, or life insurance are accepted. Simply complete and mail the form included in this brochure. You may enclose a check payable to the Greater Clark Area Community Foundation or make a pledge for more than one year.
SDCF will mail contributors a receipt and 501(c)(3) information.