4
The Americans’ Changing Lives study is the oldest, ongoing national study of social, psychological and behavioral factors in health. Researchers from the National Institute on Aging started with a representative cross-section of the U.S. population in 1986 and have followed those participants for the past 25 years. ACL is the first—but certainly not the only—study to determine that: Volunteerism and giving is good for your physical and mental health. Making charitable donations triggers the brain’s reward center, the same way food and sex do; researchers call it a “helper’s high.”
Officers Phillip F. Stambaugh PReSIdeNT
Marsha Egan VICe PReSIdeNT
Joe Hale VICe PReSIdeNT
VICe PReSIdeNT
Melissa Philbrick VICe PReSIdeNT
Victoria McManus TReASUReR
Happy Wheelers
Sue Ottison SeCReTARy
Trustees Jim Bennett Ann Colgrove Marsha Egan William H. Frist, M.D. Joe Hale Ellen Hoeffel Tucker Holland The Rev. Gary Klingsporn Zeldy Lyman Tom Maggs Marsha Reis Kotalac Victoria McManus Susan Chase Ottison Magdalena Padzik Melissa Philbrick Geoff Smith Phillip F. Stambaugh
Advisory Committee Dan Drake Robert Felch Peggy Gifford Wade Greene Eileen McGrath Richard Oman John Penrose Lynn Petrasch Michael Varbalow Mimi Young
Margaretta S. Andrews exeCUTIVe dIReCTOR
Jeanne Miller Kathryn Kennedy Photos: Eileen Powers
www.cfnan.org
INVeSTING IN NANTUCkeT—TOdAy ANd TOMORROW
Marsha Kotalac
Staff
Give your passion a purpose!
NeWS Photos: Kathryn Ken nedy
Giving is good for your health!
Board of Trustees
FUNDS
When CFNan Board Member Marsha Kotalac has an idea, she puts all of her energy and enthusiasm to work! Throughout the summer and early fall, Marsha orchestrated the wildly successful 1st Annual Community Grants Raffle which raised over $12,000 for our Community Grants Fund. She collaborated with local businesses to create prize packages that offered something for everyone from restaurants and retail, health and fitness, to travel and entertainment— even a year of trash removal. The list of local » Marsha Kotalac and businesses who participated was long and Town Crier Eric Goddard diverse, and inspires us to remember the needs in the community vary as widely as the list of donors. Over 500 people purchased tickets for the raffle and many had stories to tell about nonprofits that were helped by these grants. This raffle initiative not only brought in much needed funds for this year’s Community Grants, but equally as important, Marsha and her team worked tirelessly to raise awareness about The Foundation. We thank Marsha for her superb effort and countless hours of hard work!
F A L L 2013
RAFFLE
Community Grants Raffle
40 Sherburne Commons, #117 P. O. Box 204 Nantucket, MA 02554 p 508 825 9993 f 508 228 4098 info@cfnan.org
A creative idea and the fund that made it a reality Last Valentine’s day, Darcy Creech watched a video online about true love that inspired her to jump into action to improve the lives of elderly island residents by bringing special bicycles to Nantucket that accommodate wheelchairs. Through her involvement with the Friends of Our Island Home, who have also created a fund with the Foundation, darcy was familiar with the particular needs of that population. She felt strongly that everyone should have the opportunity to be outside enjoying the beauty of the island and getting some fresh air. darcy reached out to the Community Foundation for Nantucket to think-tank options to fund her idea for Nantucket Wheelers. When she realized that a specific fund could easily—and quickly—be created for the project, she set one up immediately. That afternoon, she began to promote the fund and created an online giving profile with Indigogo, aiming to raise $35,000 in 35 days. The support for the program exceeded expectations and over $40,000 was raised! In a very short amount of time, the Nantucket Wheelers became a reality. darcy was able to purchase three duet bicycles and through a collaboration with don Allen Auto Center and the enthusiasm of 12 trained volunteers, Nantucket Wheelers has been touring wheelchair-bound and elderly residents around the Island’s bike paths for several weeks. It has been so incredibly popular with the residents of Our Island Home that additional volunteers are being trained so that they can offer more rides to more residents.
“
www.cfnan.org
» Darcy Creech with a volunteer rider and two happy Wheelers!
Setting up our fund through the Community Foundation for Nantucket gave us the extraordinary opportunity to devote our time and energy solely to fundraising and implementation, rather than on board meetings, paperwork, and filings with the state, while still allowing our sponsors and donors to make a tax free contribution. Our collaboration with CFN also gave us credibility, and a distinct advantage over other charities that were also looking for funding.
”
—Darcy Creech
3
2 GIVING
CONNECTING
Donor Advised Funds Charitable Checkbook
Donor Advised Funds Compared with Private Foundations Community Foundation Private Foundation
FoR NANTuCKET
Maximum Tax Benefits
No
Yes
AGI Tax deduction Limitation: CASH
30%
50%
20%
30%
Fair Market Value deduction
Fair Market Value Deduction
Cost Basis deduction
Fair Market Value Deduction
When Janet Schulte purchased stock several years ago with the intention of making future donations to her favorite charities, she didn’t envision that the market would fluctuate significantly. Last summer, when the market was high, she realized that if she sold her stock in order to make gifts to nonprofits, she would be liable for significant capital gains which would decrease the amount she could dedicate to giving. “I realized that the Community Foundation could help me to
AGI Tax deduction Limitation: Long-Term Capital Gain Property (PUBLICALLy TRAded STOCk, CLOSeLy-HeLd STOCk ANd ReAL eSTATe)
Gifts of Qualified Appreciated Stock (i.e., PUBLICALLy TRAded STOCk)
reach and maximize an important personal goal,” said Janet, “So I gave Gifts of Real estate or Closely-held Stock
the appreciated stock to the Foundation and created a donor advised fund.” Janet received
No Privacy/Confidentiality
Photo: Eileen Po
a tax deduction based on the full market value
(disclosure of IRS from 990PF* is required)
Yes (Confidentiality maintained)
of the stock, and now can decide when and excise Taxes on the Sale of Highly-Appreciated Gifts
how to make charitable gifts to Nantucket’s
No
1–2%
wers
nonprofits.
of Net Income and Net Realized Gains
None
yes
Yes
Complex
Simple
Annual Minimum distribution Requirement
5%
None
Personal, Local Service by a Mission-based Organization
No
Yes
knowledge about Local Nonprofits
No
Yes
Annual excise Tax Payments » Janet Schulte recently created her first Donor Advised Fund with the Community Foundation
yes
When Marsha and Bob Egan moved to Nantucket permanently two years ago, they
Customized/Personalized Investment Program for each Charitable entity or Fund
knew that they would support Nantucket
ease of establishing Charitable entity
charitably the same way they had supported their community in Pennsylvania. They
Visit our website at cfnan.org to learn more about donor advised funds.
discovered the Community Foundation and created a donor Advised Fund. This allowed them
» Marsha and Bob Egan
to place their charitable giving dollars into a fund *Annual IRS Form 990PF disclosures include the following: asset size, investment earnings/detail of investments held, board members and addresses, detail of grants distributed and detail of contributions made.
which was invested at their direction. Now they can proactively plan their annual giving in support of multiple charities.
GIVING CARD
Give a special gift they’ll really love:
Giving Cards can be redeemed to benefit any 501(c)(3) public charity anywhere in the US, including
Giving Cards
schools, churches, and synagogues.
Select your card design, make your
Visit our website to
get giving
purchase, receive a tax deduction www.cfnan.org
www.cfnan.org
3
2 GIVING
CONNECTING
Donor Advised Funds Charitable Checkbook
Donor Advised Funds Compared with Private Foundations Community Foundation Private Foundation
FoR NANTuCKET
Maximum Tax Benefits
No
Yes
AGI Tax deduction Limitation: CASH
30%
50%
20%
30%
Fair Market Value deduction
Fair Market Value Deduction
Cost Basis deduction
Fair Market Value Deduction
When Janet Schulte purchased stock several years ago with the intention of making future donations to her favorite charities, she didn’t envision that the market would fluctuate significantly. Last summer, when the market was high, she realized that if she sold her stock in order to make gifts to nonprofits, she would be liable for significant capital gains which would decrease the amount she could dedicate to giving. “I realized that the Community Foundation could help me to
AGI Tax deduction Limitation: Long-Term Capital Gain Property (PUBLICALLy TRAded STOCk, CLOSeLy-HeLd STOCk ANd ReAL eSTATe)
Gifts of Qualified Appreciated Stock (i.e., PUBLICALLy TRAded STOCk)
reach and maximize an important personal goal,” said Janet, “So I gave Gifts of Real estate or Closely-held Stock
the appreciated stock to the Foundation and created a donor advised fund.” Janet received
No Privacy/Confidentiality
Photo: Eileen Po
a tax deduction based on the full market value
(disclosure of IRS from 990PF* is required)
Yes (Confidentiality maintained)
of the stock, and now can decide when and excise Taxes on the Sale of Highly-Appreciated Gifts
how to make charitable gifts to Nantucket’s
No
1–2%
wers
nonprofits.
of Net Income and Net Realized Gains
None
yes
Yes
Complex
Simple
Annual Minimum distribution Requirement
5%
None
Personal, Local Service by a Mission-based Organization
No
Yes
knowledge about Local Nonprofits
No
Yes
Annual excise Tax Payments » Janet Schulte recently created her first Donor Advised Fund with the Community Foundation
yes
When Marsha and Bob Egan moved to Nantucket permanently two years ago, they
Customized/Personalized Investment Program for each Charitable entity or Fund
knew that they would support Nantucket
ease of establishing Charitable entity
charitably the same way they had supported their community in Pennsylvania. They
Visit our website at cfnan.org to learn more about donor advised funds.
discovered the Community Foundation and created a donor Advised Fund. This allowed them
» Marsha and Bob Egan
to place their charitable giving dollars into a fund *Annual IRS Form 990PF disclosures include the following: asset size, investment earnings/detail of investments held, board members and addresses, detail of grants distributed and detail of contributions made.
which was invested at their direction. Now they can proactively plan their annual giving in support of multiple charities.
GIVING CARD
Give a special gift they’ll really love:
Giving Cards can be redeemed to benefit any 501(c)(3) public charity anywhere in the US, including
Giving Cards
schools, churches, and synagogues.
Select your card design, make your
Visit our website to
get giving
purchase, receive a tax deduction www.cfnan.org
www.cfnan.org
4
The Americans’ Changing Lives study is the oldest, ongoing national study of social, psychological and behavioral factors in health. Researchers from the National Institute on Aging started with a representative cross-section of the U.S. population in 1986 and have followed those participants for the past 25 years. ACL is the first—but certainly not the only—study to determine that: Volunteerism and giving is good for your physical and mental health. Making charitable donations triggers the brain’s reward center, the same way food and sex do; researchers call it a “helper’s high.”
Officers Phillip F. Stambaugh PReSIdeNT
Marsha Egan VICe PReSIdeNT
Joe Hale VICe PReSIdeNT
VICe PReSIdeNT
Melissa Philbrick VICe PReSIdeNT
Victoria McManus TReASUReR
Happy Wheelers
Sue Ottison SeCReTARy
Trustees Jim Bennett Ann Colgrove Marsha Egan William H. Frist, M.D. Joe Hale Ellen Hoeffel Tucker Holland The Rev. Gary Klingsporn Zeldy Lyman Tom Maggs Marsha Reis Kotalac Victoria McManus Susan Chase Ottison Magdalena Padzik Melissa Philbrick Geoff Smith Phillip F. Stambaugh
Advisory Committee Dan Drake Robert Felch Peggy Gifford Wade Greene Eileen McGrath Richard Oman John Penrose Lynn Petrasch Michael Varbalow Mimi Young
Margaretta S. Andrews exeCUTIVe dIReCTOR
Jeanne Miller Kathryn Kennedy Photos: Eileen Powers
www.cfnan.org
INVeSTING IN NANTUCkeT—TOdAy ANd TOMORROW
Marsha Kotalac
Staff
Give your passion a purpose!
NeWS Photos: Kathryn Ken nedy
Giving is good for your health!
Board of Trustees
FUNDS
When CFNan Board Member Marsha Kotalac has an idea, she puts all of her energy and enthusiasm to work! Throughout the summer and early fall, Marsha orchestrated the wildly successful 1st Annual Community Grants Raffle which raised over $12,000 for our Community Grants Fund. She collaborated with local businesses to create prize packages that offered something for everyone from restaurants and retail, health and fitness, to travel and entertainment— even a year of trash removal. The list of local » Marsha Kotalac and businesses who participated was long and Town Crier Eric Goddard diverse, and inspires us to remember the needs in the community vary as widely as the list of donors. Over 500 people purchased tickets for the raffle and many had stories to tell about nonprofits that were helped by these grants. This raffle initiative not only brought in much needed funds for this year’s Community Grants, but equally as important, Marsha and her team worked tirelessly to raise awareness about The Foundation. We thank Marsha for her superb effort and countless hours of hard work!
F A L L 2013
RAFFLE
Community Grants Raffle
40 Sherburne Commons, #117 P. O. Box 204 Nantucket, MA 02554 p 508 825 9993 f 508 228 4098 info@cfnan.org
A creative idea and the fund that made it a reality Last Valentine’s day, Darcy Creech watched a video online about true love that inspired her to jump into action to improve the lives of elderly island residents by bringing special bicycles to Nantucket that accommodate wheelchairs. Through her involvement with the Friends of Our Island Home, who have also created a fund with the Foundation, darcy was familiar with the particular needs of that population. She felt strongly that everyone should have the opportunity to be outside enjoying the beauty of the island and getting some fresh air. darcy reached out to the Community Foundation for Nantucket to think-tank options to fund her idea for Nantucket Wheelers. When she realized that a specific fund could easily—and quickly—be created for the project, she set one up immediately. That afternoon, she began to promote the fund and created an online giving profile with Indigogo, aiming to raise $35,000 in 35 days. The support for the program exceeded expectations and over $40,000 was raised! In a very short amount of time, the Nantucket Wheelers became a reality. darcy was able to purchase three duet bicycles and through a collaboration with don Allen Auto Center and the enthusiasm of 12 trained volunteers, Nantucket Wheelers has been touring wheelchair-bound and elderly residents around the Island’s bike paths for several weeks. It has been so incredibly popular with the residents of Our Island Home that additional volunteers are being trained so that they can offer more rides to more residents.
“
www.cfnan.org
» Darcy Creech with a volunteer rider and two happy Wheelers!
Setting up our fund through the Community Foundation for Nantucket gave us the extraordinary opportunity to devote our time and energy solely to fundraising and implementation, rather than on board meetings, paperwork, and filings with the state, while still allowing our sponsors and donors to make a tax free contribution. Our collaboration with CFN also gave us credibility, and a distinct advantage over other charities that were also looking for funding.
”
—Darcy Creech