Moments in Philanthropy :: April 2011
In This Issue
Madison Community Foundation New Funds
MCF on Facebook
2010 Stakeholders Report
Late Tax Season Reminder for Fundholders
National Symposium on Family Foundations April 27-28
Joining the Effort for Japan
In Process: A Peek into the Fitchburg Library Project
The Power of Time: Zor Shriners Endowment
Awards and Accolades
Madison Community Foundation New Funds
Black Earth Creek Project
Elizabeth C. Davies Fund for Family and Child Development
Mohaupt Fund for the Sequoya Branch Library
Sharifa Merchant Charitable Gift Annuity
Neumueller Family Fund
MCF on Facebook
Madison Community Foundation now has a Facebook page. Please follow us and visit regularly, as each week we'll be taking some time to share information on our initiatives, our grantees, and important news from Dane County. We welcome your comments and questions on Facebook, and look forward to hearing from you. Click on the icon to see our page.
2010 Stakeholders Report
The Madison Community Foundation 2010 Stakeholders Report will be mailed to all fundholders the week of April 4th. The report contains a statement of financial position for 2010, descriptions of grants made from MCF unrestricted funds, and a list of the kinds of projects that MCF fundholders have supported. Anyone may request a paper copy of the Report by calling the MCF office at (608) 232-1763.
Click on the image to see the online Madison Community Foundation 2010 Stakeholders Report.
Click here to see the list of MCF Component Funds
Late Tax Season Reminder for Fundholders
As the April 18th tax deadline approaches, please remember that contributions made to MCF during 2010 and prior years are receipted at the time of the gift. Subsequent distributions (grants) to qualifying charities recommended by fundholders do not represent a charitable tax deduction, as the deduction is taken in the year the contribution was made to MCF. As a fundholder, receiving charities may send you thank you letters for gifts recommended from your fund. These letters are not tax deductible receipts, but rather acknowledgement letters thanking you for supporting their charitable cause.
Please consult with your tax professional on any questions you have regarding this process.
National Symposium on Family Foundations April 27-28
Kathleen Woit will moderate a panel titled “Next Generation Challenges and Opportunities: Inspired Stories from the Next Generation” on April 27, from 2:45 – 4 pm at the Wisconsin Institutes for Discovery for the UW Center for Nonprofits National Symposium on Family Foundations.
“Building Civil Society Through Family Foundations: Next Generation Contributions” will offer discussions of the transition family foundations are presently experiencing. New generations of trustees bring opportunities and challenges including questions families must address on granting,
the impact of their work and how to address different values as they jointly work to continue their family philanthropic legacy. Nationally acclaimed experts in the field will convene on the UW-Madison campus to explore the current state of family foundations particularly as it relates to engaging, integrating and supporting the next generation of family foundation leaders.
For complete symposium details, click here.
Joining the Effort for Japan
When the earthquake and tsunami hit Japan on March 11, MCF extended fund distribution deadlines for fundholders who wished to use their distributions to contribute to the relief effort.
One donor, who had not previously known that distributions could be used from their Donor Advised Fund for relief efforts, emailed MCF and forwarded over $5,000 to the Red Cross, earmarked for Japanese relief.
Distributions from a Donor Advised Fund – Endowment or Passthrough – can be recommended for specific charities at any time via the MCF secure website. The MCF Board of Governors are charged to ensure that all distributions meet the regulations of the Internal Revenue Code, are being made to accredited charities, and are compatible with the policies and purposes of MCF.
By using a Donor Advised Fund, a fundholder has the flexibility of a private foundation without the associated expense and maintenance. One can focus on giving to organizations that matter the most to them, confident that MCF will handle all the details and that the endowment will grow over time.
If you have questions regarding any type of fund or fund distributions, contact Amy Overby, Vice President, Donor Relations, or Paul Houseman, Donor Relations Manager, at (608) 232-1763.
In Process: A Peek into the Fitchburg Library Project
By Sandra Ramer
Fitchburg will soon have bragging rights to a state-of-the-art new public library, scheduled to open July 1, 2011. MCF has granted $50,000 to be used to construct and furnish the “Storytime Room” for youngsters and has given the library an additional $25,000 to be used for a match to build an endowment. Fitchburg Library is using a Passthrough Fund at MCF to handle all the administrative functions associated with a full scale capital campaign.
An anonymous donor has given a $1 million challenge gift, offering $1 for every $2 donated through December 31, 2011. Marykay Zimbrick, vice-president of the library board and co-chair of the Capital Campaign said $700,000 is still needed to make use of the entire $1 million challenge.
“We are excited to bring 21st century library service to the community and honored that Madison Community Foundation is helping to make our dreams reality,” said Ms. Zimbrick. Phil Sveum is co-chair with Zimbrick, and Bill and Mary Linton are honorary chairs. The Lintons have given a $1 million gift to the library. The Friends of the Fitchburg Library group, with Barbara Matthews as President, has actively participated in making the Fitchburg Library a reality with their sponsorship of library programming and fundraising.
The Fitchburg Library project is unique. Staff at the American Library Association confirmed that it is the only new library organization and building in a city the size of Fitchburg to be built from the ground up, not as a branch, in the United States in recent years.
Click here for a larger story on the library project and to access the live webcam.
To contribute to the library campaign, visit this webpage.
The Power of Time: Zor Shriners Endowment
By Patrick Snell
As parents, our children’s health is paramount. Fevers, aches and pains impeding our child’s life hold our attention, and tug on our hearts. But what would we do if our child’s health issues were more severe? How would we help them with their needs? Where could we turn for help?
Shriners Hospitals for Children, a network of 22 pediatric hospitals spread across the United States, Canada and Mexico, have one purpose: to provide specialized care for children with special healthcare needs, based solely on the child’s medical need, regardless of the family’s ability to pay. Transportation for patients and their families is provided at no charge. It is a crucial service, and long and lengthy journeys are not uncommon.
Zor Shriners Madison chapter established the The Roy Hopko Endowment Fund through Madison Community Foundation in 1999 to directly support the Zor Shriners’ transportation effort in the extended Madison area.
Seventeen-year-old Patrick is one of those benefitting from the service for his whole life.
Born with a challenging physical condition, Patrick has traveled from his home in northern Wisconsin to the Shriners Hospitals for Children - Chicago at least once in each of his seventeen years. His voyage starts early the day before an appointment when a Zor Shriners driver stops to pick up Patrick, and his guardian-grandfather, Larry. They get to a hotel by nightfall and are up early the next morning and “on time” for Patrick’s doctor appointment. Following the appointment, the driver, who has stayed at a hotel overnight, is waiting to take the two on the long journey back home.
Despite his challenges, Patrick is an optimistic young man. It is “a pretty big blessing for the Shriners to do that” he says.
Since its inception in 1999, the Roy Hopko Fund has distributed nearly as much money as the current fund balance. Even though the fund continues to grow, soon more money will have been paid out than the current balance – this is the power of an endowment.
Anyone can add to the Roy Hopko Fund to support the transportation of children to Shriners Hospitals for Children. If you are interested in doing so, you can give to the fund here.
If you would like more information on Shriners Hospitals for Children, visit their website here.
Awards and Accolades
Sales and Marketing Executives of the Year
Congratulations to Rich Lynch, President and Co-owner of Findorff, as the 2010 Executive of the Year as announced by Sales and Marketing Executives of Madison. Rich is currently serving MCF Board of Governors as Vice Chair. Ruth Shelley, Executive Director of the Madison Children's Museum, was announced as the 2010 Nonprofit Executive of the Year. Lynch and Shelley will be feted on April 19, 2011 at Union South with a reception, followed by a luncheon and awards ceremony.
Visit the SMEM website for more information.
Community Groundworks
Congratulations to Community Ground Works (formerly Friends of Troy Gardens ), for receiving the Distinguished Service Award from the Department of Public Health for Madison and Dane County for developing land in a sustainable manner, improving food security, and providing educational programs on gardening, food preparation, nutrition and the environment.
The award celebration for Community Groundworks and other recipients will be held Community Ground Works Monday, April 11, 1:30 p.m. at Warner Park Community Center.
For more information click here.