|
Charitable Foundations
Medford, Oregon • 1-888-724-6424
University Retirement Community Foundation
The 2007 URC Foundation Fundraising Dinner was, once again, a grand celebration for everyone who attended. This year’s theme was “Dinner on the Orient Express,” honoring resident Dick Howlett, one of the Foundation’s most generous benefactors.
Dick and his wife, Betty, moved to URC shortly after it opened in 2000, and they immediately set about immersing themselves in the community’s vibrant lifestyle. Fellow resident Ken Nelson got to know Dick over the course of several bridge games, and they soon became fast friends.
Ken was the chair of the newly formed URC Foundation Resident Liaison Committee; and once he learned of Dick’s background in finance, he asked for Dick’s advice and support in helping the committee find a way to host a yearly fundraising dinner on the URC campus. All proceeds would benefit the URC Foundation, which makes funds available for residents in need of assistance. Dick liked that idea. In fact, he liked it so much that he contributed the seed money to launch the endeavor, he promised to match all contributions over the cost of the dinner ticket (up to $10,000), he covered the cost of all wine and food served at the dinner, and he promised to contribute an additional $10,000 if the evening sold out (which it did).
But Dick’s generosity did not stop there. For the next four years, he continued to support the Foundation in this manner, contributing more than $30,000 each year. And he insisted that his gifts remain anonymous until his death.
As part of this year’s celebration, Ken gave a poignant speech in honor of Dick. In closing he presented special guests Betsy Miller (Dick’s daughter) and her husband with a framed photo of Dick and Betty, with love from the residents and the staff of URC.
Rogue Valley Manor Foundation
The Rogue Valley Manor Foundation held the two most successful community fund-raising events in its history this past June. The Benefit Golf Tournament earned $120,000. The Manor Sale grossed $153,000. The Manor Boutique, which has been run for 15 years by resident volunteer Maria Fosdal, raised more than $37,000. The proceeds went to support various funds and programs, such as the Health Center Operations Fund, the Rogue Valley Manor Fund, Community Housing, Community Services programs (including the Foster Grandparent Program and the Retired and Senior Volunteer Program), and the Fairy Godmothers. In addition, the Foundation received $47,900 in end-of-year gifts and $296,000 in bequests and gift annuities. Fairy Godmothers received $52,000, and numerous memorial gifts were received. Gifts from all funds as of June 2007 totaled $694,000.
Trinity Terrace Foundation
The Trinity Terrace Foundation continued its ongoing resident education about the need for a foundation and the good that it can accomplish. Executive Administrator Brian Young presented a number of seminars on charitable annuities. Brian has also published a series of informational letters describing different methods of charitable giving and the benefits of each. Other Foundation activities this past year have focused on Trinity Terrace’s expansion, which is currently under way.
Cascade Manor Foundation
Over the past year, exciting developments have taken place for the Cascade Manor Foundation. A new scholarship fund was set up to assist health care workers in furthering their education, a Rooftop Garden has been added to the community, and its Memorial Giving Program has taken off. The Board has been focusing on educating residents about the growing need for the Foundation to thrive in the coming years, as its mission to support the residents of Cascade Manor who have outlived their financial resources is extremely important.
The Benefits of Charitable Giving
By definition, a “foundation” is an institution financed by donations or legacies that benefit the cause or organization to which the foundation is dedicated. A foundation is, in many ways, the cornerstone on which the future of the organization is built. As with any foundation, its strength is derived from the generosity of those who support it.
Contributing capital resources to a foundation is an excellent way to leave a lasting personal legacy. It’s also a wonderful opportunity to invest in the future of a community.
Contributed assets can be designated for specific purposes or donated to a general fund, where they are used to benefit the community at large. A donor may choose to make a direct gift from which a foundation can immediately benefit, or may choose to make a planned gift, which benefits the foundation at a later date. Gifts of this type include bequests, charitable remainder unitrusts, and charitable gift annuities.
Gifts may be made in the form of cash, stock, bonds, or real estate. A donor can include a gift to the foundation in a will or through a living trust. Pension plans can be donated, as can Individual Retirement Accounts (IRAs) or other retirement assets. Life insurance policies that are no longer needed can be given as well.
Each method of gifting offers possible tax benefits to the donor. Charitable gift annuities are among the most popular ways of giving because they provide benefits to both the donor and the recipient. As an annuitant, you can receive a guaranteed lifetime income, and you may avoid a capital gains tax. Charitable remainder unitrusts allow donors to provide variable lifetime payments for themselves or other living beneficiaries. These irrevocable trusts may provide the donor with reduced estate taxes and a bypass of a capital gains tax. By donating appreciated securities, a donor may be entitled to a tax deduction for the current value of the stock. This puts unrealized “paper profits” to work.
|
Back to PRS Annual Report Index
|
 |
