Moments in Philanthropy || December 2009
In This Issue
New Funds at Madison Community Foundation
End of Year Tax Planning
Supporting a Great Community - Lynch Acorn Anniversary Story
No Stomach For Cancer – Worldwide Concern
What is Your Legacy?
150% Match for Sequoya Endowment Donations
Holiday Schedule for MCF
Upcoming Events for Agencies Supported by MCF
New Funds at Madison Community Foundation
No Stomach for Cancer
Acorns started in November:
Carol Cohen Acorn Fund
Parry F. Lueders Fund
Kary Fund
Kohls and Erdmann Family Fund
Conlin Family Fund
E. Madsen Fund
Galanter Family Fund
Frank & Cindy Byrne Donor Advised Fund
Nancy and Dennis Lynch Fund
As of December 1, 2009, Madison Community Foundation holds a total of 878 funds, including 192 non-profit fundholders.
End of Year Tax Planning
Distributions:
The December deadline for requesting distributions is Monday, December 15th. December distribution checks will be mailed on Wednesday, December 29th. To request a distribution please contact Connie Tibbetts, Accounting Manager, at (608) 232-1763 or via email at ctibbetts@madisoncommunityfoundation.org
Year-end Tax Planning:
Appreciated stocks and mutual funds are a great way to make a charitable contribution and gain an extra tax advantage. You can claim an income tax deduction for the full value of the shares, and avoid tax on the capital gain.
In order for you to claim a 2009 tax deduction, the shares must be received in the MCF account on or before December 31, 2009. Brokers and financial advisors can be very busy at the end of the year, so it is best to send them your transfer instructions by December 23. Mutual fund shares can take even longer to transfer, so we recommend that you complete the necessary paperwork by December 15.
For more information on gifting stock or mutual fund shares, contact Ann Casey, Vice President of Finance and Planned Giving, acasey@madisoncommunityfoundation.org.
If you have liquid assets to use for charity purposes and want to receive the tax deduction in 2009 but are not sure where you want that money distributed, a Passthrough fund with MCF may be the appropriate tool for you. A Passthrough Fund is like a charitable checking account that allows you to make one lump-sum contribution to MCF now, and take your time in recommending distributions to your favorite charities throughout the next twelve months.
It takes only a few minutes to set up a Passthrough Fund. To claim a deduction for 2009, the funds must be postmarked no later than December 31, 2009. To learn more about Passthrough Funds, download our Passthrough Fund Fact Sheet and a Passthrough Fund Agreement or contact Paul Houseman, Donor Relations Manager, at (608) 232-1763.
Supporting a Great Town: Lynch Acorn Anniversary Story
“We live in a great, great, community,” said Nancy Lynch, who along with her husband Dennis, started an Acorn Fund with MCF during the Acorn Anniversary Challenge. “There are many kinds of people in this town; we recognize that, and then we take care of each other. Philanthropic tools like an MCF Acorn Fund allow us to provide needed support.”
Nancy, former Executive Director of The Madison Ballet and community supporter for many years, has long been involved in Dane County philanthropic endeavors.
“My husband and I had been thinking about opening an Acorn Fund for years,” said Nancy. “The generous Acorn Anniversary Challenge offer of a match for the first $1000 was the spur that got us going. MCF made it so easy for us to open the fund. I made a call to Paul at MCF, and within minutes we had the simple paperwork faxed to us. The Acorn Fund fits neatly into our giving philosophy.”
For more information about Acorn Funds, please contact Paul Houseman, Donor Relations Manager, at (608) 232-1763, or visit the Acorn Fund page on the MCF website.
No Stomach For Cancer – Worldwide Concern
When Karen Chelcun Schreiber came in to talk with the Madison Community Foundation staff to create a fund for her organization, No Stomach For Cancer, she said she never dreamed she would be spending her early retirement fighting passionately for a cause like cancer. However, upon learning that the stomach cancer that took the lives of her mother and brother was hereditary and she belonged to one of about 150 families worldwide carrying the devastating genetic mutation, she resolved to do something about it.
Karen found information about the disease to be almost nonexistent, so she formed what is now known as No Stomach for Cancer, Inc. to serve as a clearinghouse for research and information and a source of support for other affected families. Today, a year and a half later, No Stomach For Cancer, Inc. is a charitable organization whose mission is to expedite education and research for early diagnosis, screening, treatment and prevention of Hereditary Diffuse Gastric Cancer (HDGC) and to provide a network of support for affected families.
At the time of this writing, the first international donation – funds from an event held in England – were received in the MCF office. Funds will soon be arriving from another event in Washington D.C., and other supporting events all over the world.
“The Endowment and Passthrough we have with Madison Community Foundation will provide the funds for research to give my children, grandchildren, and families everywhere better options than I had, and more importantly, to save lives worldwide,” said Karen. “These funds will be here to keep on giving and supporting until there is a cure.”
Learn more at www.NoStomachForCancer.org. To make a donation to the NSFC Fund, click here.
What is Your Legacy?
Have you ever thought to make your community one of your heirs? People from all walks of life and income levels can reach beyond their lifespan when doing good works. Imagine how much good could be done if each one of us remembered a favorite charity or cause in our will or estate plan? The impact would be immeasurable.
Planned giving can help build a better community. A legacy, no matter how small, can make a huge difference in the lives that follow. At the same time, a charitable gift can also help minimize estate taxes for family members. Here are some tips to get you started:
- Make sure you have an up to date will that reflects your charitable interests
- Think beyond cash - stocks, real estate and life insurance policies are great gifts
- Include your favorite charity as a beneficiary of your pension plan or IRA
- Consider a Charitable Gift Annuity to provide you with income now, and charity later.
For more information, contact Amy Overby, Vice President, Donor Relations, at (608) 232-1763.
150% Match for Sequoya Endowment Donations
With just less than a month to finish the MCF matching endowment grant challenge offered to Sequoya Library, The Friends of the Sequoya Branch Library have come forward to up the ante with a Rematch Challenge for all contributions to the Sequoya Endowment Campaign. What this means is that any contribution to the Sequoya Endowment at Madison Community Foundation will be matched 50% by Madison Community Foundation, and 100% by Friends of the Sequoya Branch through 12/31/2009 (up to $25,000). That means if someone gives $600, that money is matched by an additional $900. This is 150% match! Who can beat that return on investment!!
Sequoya Branch Library is one of three Dane County libraries, who, along with Waunakee Public Library and Monona Library, were each offered a $50,000 challenge grant to fill before December 31, 2009. The grants will provide up to $50,000 if each library can raise $100,000. Distributions from the Sequoya Endowment will fund programming not normally covered by municipal library funding.
The pressure is on to meet the fundraising deadline. Funds or pledges for all three libraries must be received by Madison Community Foundation on or before December 31, 2009, to receive the matching grant.
To contribute online to any of the library endowment campaigns, visit:
Waunakee: click here.
Monona: click here.
Sequoya Branch: click here.
Holiday Schedule for MCF
Madison Community Foundation office will be closed December 24 and 25, and January 1. We will be open December 28, 29, 30, 31, and January 4.
Upcoming Events for Agencies Supported by MCF
“It’s a Wonderful Life”- live radio drama benefitting Middleton Outreach Ministries
What: A live radio drama performed by the Sycamore Street Ensemble. Great family entertainment.
When: December 6, 12, 13, 2009
Where: Middleton Performing Arts Center
For more information, call (608) 829-1929 or visit the MOM website.
Winter Solstice Celebration at the Aldo Leopold Nature Center
What: Celebrating Winter Solstice traditions around the globe! Excellent family fare.
When: Friday, December 18, 2009
Where: Aldo Leopold Nature Center Monona Campus
For more information, please call (608) 221-4038 or visit the ALNC website.
Kevin Henkes and Laura Dronzek: “Writing and Illustrating Children's Books”
What: Caldecott Award winning children's book author Kevin Henkes and his illustrator wife Laura Dronzek will discuss their new picture book, Birds, as part of a series of events to help you learn more about the Madison Community Foundation’s 2009 Library Endowment Matching Challenge Grant program.
When: Sunday, 24 January, 2010
Where: Sequoya Library
For more information click here.