Presentation is loading. Please wait.

Presentation is loading. Please wait.

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

Similar presentations


Presentation on theme: "Building a Stronger Community Through Philanthropy Linda Reed, President & CEO Cathy Cooney, Program Director Montana Community Foundation."— Presentation transcript:

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 community leadership (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 49 th 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


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

Similar presentations


Ads by Google