Presentation on theme: "Who are the ARDPI Partners? Why ARDPI? Funded by Promote wealth creation Establish community foundations or community foundation funds Transform communities."— Presentation transcript:
Who are the ARDPI Partners?
Why ARDPI? Funded by Promote wealth creation Establish community foundations or community foundation funds Transform communities from within
What is a Community Foundation? Exists as an independent, tax-exempt public charity Features giving by and for local residents Acts as a community savings account Creates long term assets for the betterment of the entire community
Who Are the Pilot Counties? Bell, Clay, Knox, Magoffin, Whitley, Knott, Letcher, Elliott
What Does ARDPI Offer Pilot Counties? Community leaders from Pilot Counties can: – Explore the potential that local community philanthropy offers as a development tool – Examine options to build local community philanthropy – Get real help and hands-on assistance over the next two years
What Does ARDPI Offer Prospect Counties? Community leaders from Prospect Counties can: – Apply for mini-grants – Access online resources – Develop a plan to take rural philanthropy to the next level
What Are ARDPI’s Goals? Raise awareness on rural philanthropy Elevate the understanding of community foundations and their benefits Secure local assets to provide long-term resources for Eastern Kentucky communities Keep Eastern Kentucky’s wealth in Eastern Kentucky Increase charitable giving overall
Background Information Transfer of Wealth Kentucky Study SOP-ToW.pdf SOP-ToW.pdf Endow Kentucky Legislation
What is Transfer of Wealth? Every Kentucky county has wealth $707 billion will transfer to the next generation by 2060 Outmigration in Eastern Kentucky increases the impact The difference capturing even 5% of that wealth could make for your county’s future
Transfer of Wealth Blue Grass Community Foundation Pilot Counties
Transfer of Wealth The Foundation for Appalachian Kentucky Pilot Counties
Transfer of Wealth The Foundation for the Tri-State Community Pilot County
What is Endow Kentucky? Allows a 20% tax credit for any endowment up to $50,000 made to a qualified community foundation Allows credit to be spread over a five-year period State and Federal tax deductions still apply
There’s never been a better time to give here in Kentucky!