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April 2024
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The gifts Americans give to charity every year provide critical support for more than a million organizations that are helping sustain the quality of life in our communities. Philanthropy equates to 2% of GDP–that’s a little more than the home health care services sector! And, trust is growing as a must-have prerequisite before your clients decide to give to an organization, increasing from 63.9% to 69.9%between December 2021 and December 2022.
If you’re not talking about charitable giving with your high net-worth clients, 2024 is the year to start doing it! Recent studies show that 85.1% of affluent households give to charity. Certainly many of your clients are among them.
Take a few minutes this month to scan your client list for three common scenarios and related opportunities for charitable giving solutions. A new year ushers in a fresh batch of resolutions and goals. It’s also a time when new questions pop onto the radar. That’s certainly the case even in these early days of 2024. Here are a few of the top questions we’re already hearing from our nonprofit partners, along with answers to help you navigate the year ahead.
More often than not, boards of directors of nonprofit organizations are made up of business and community leaders who are not typically embedded in the day-to-day operations of charitable organizations. That’s why it’s important to focus on continuous learning opportunities for your board members, including (and especially) board members’ roles in maintaining your organization’s financial stability.
An endowment is a key component of achieving that financial stability, and, if your organization has established its endowment or reserve fund at the community foundation, you’re likely in close touch with the team at the community foundation about keeping your board members informed about endowment-building strategies and successes. We are happy to help! Millennials and Generation Z are already focused on retirement, and 30% of them are setting their sights on becoming millionaires to achieve their goals. What this means for you and other charitable organizations is that it’s likely a smart move to expand your planned giving outreach strategies to include younger donors, as well as the traditional audience of generations who are retired or approaching retirement. Indeed, many of your younger donors are increasingly becoming investment savvy and will understand the value of planning ahead.
Because younger generations are often motivated to give online and inspired by social media, your planned giving strategies should be tailored accordingly. Many planned giving techniques are complex, which is understandable considering the various legal and tax considerations that factor into structuring a bequest, charitable remainder trust, or beneficiary designation of a retirement plan or life insurance policy. Try to do whatever you can, though, to keep your language and promotional materials simple to match the preferences of this audience and the channels where they receive information. The Longest Table, a free community dinner meant to foster conversations and friendship, welcomed 850 guests next to Sertoma Park in mid-September. Today, the results of those conversations continue to build momentum with funding awards for seven projects, totaling $10,000, set to launch in 2024.
The event featured an uninterrupted table spanning 1,250 feet along 11th Avenue South. Organized by the Community Foundation and the Greater Grand Forks Young Professionals, participants gathered for facilitated discussions focused on healthy habits to achieve better mental and physical health. Following the event, participants were invited to apply for funding of up to $2,000 with the goal of getting ideas off the table and into the community. Keep these five tips in mind as you consider your year-end giving:
This article is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. As a nonprofit, two constants you likely face are (1) more demand for your services and (2) rising operating costs. Fundraising can help satisfy the “more demand” part of this equation, but that typically requires more budget, which means more marketing and … well, you get the point.
The community foundation team is your partner! We are here to help you grow your endowment at the community foundation in both traditional and creative ways. That means we’re here to help you accept and administer gifts of complex assets, such as closely-held stock and real estate, as well as help your board understand the importance of an endowment and best practices for investment and spending policies to ensure that your mission stays strong for generations. The shorter days of fall and winter aren’t the only sunsets creeping up on people these days. If you’ve met with your estate planning attorney and tax advisors recently, you’re probably aware that the gift and estate tax exemption–the total amount you can leave to family and other beneficiaries during life and at death before the hefty federal gift and estate tax kicks in–is about to drop, rather precipitously.
Without legislation to prevent it, on January 1, 2026, the exemption will drop from $12,920,000 per person (that’s the 2023 exemption) to about half of that amount, depending on annual inflation increases. As the date gets closer, tax planning decisions get tougher. Make aggressive moves now to activate gifts to family members? Or hold out to see if legislation intervenes to prevent the sunset? Perhaps you established a donor-advised fund at the community foundation years ago, or you set up a donor-advised fund more recently. Or maybe you are considering establishing a donor-advised fund at the community foundation this year to help you keep your giving more organized and involve your children and grandchildren in your philanthropic priorities.
Whatever the case may be in your situation, it’s a great idea to consider a few best practices for ensuring that your donor-advised fund is making the biggest difference possible for the causes you care about. Life gets busy, the months fly by, and it's tempting to put your donor-advised fund on autopilot. But that would be a missed opportunity. Congratulations to Katie Barta on receiving the 2023 Mike Maidenberg Emerging Leader Award! Katie grew up in Michigan, ND before moving to Grand Forks to attend the University of North Dakota for college. Katie graduated from UND in 2016 with a degree in Human Services and spent 3 years in the human services field before making the move to Probitas Promotions. Katie spent her first 2 ½ years in order and production management, before becoming Director of Operations in 2022. Katie resides in Grand Forks with her husband, two children, and two overzealous dogs. In addition to receiving the Mike Maidenberg Emerging Leader Award, Katie has selected the Grand Forks Senior Center to receive a scholarship to attend the 2024 Chamber Leadership Class. Katie said, "My Grandma was very involved at the Senior Center before her passing, so it's only fitting to have them receive it. Today would have been my Grandma's 80th birthday, so it feels a little serendipitous." About the Mike Maidenberg Leadership Endowment and Emerging Leader Award In 2004, the Mike Maidenberg Leadership Endowment was established at the Community Foundation by Grand Forks Herald employees to honor Publisher Mike Maidenberg on his retirement. It was a fitting way to thank and commemorate Mike’s long time civic efforts in Grand Forks. His leadership was instrumental in strengthening our community, especially after the flood of 1997. His leadership presence continued as he was at the forefront of establishing the Community Foundation, serving as our first Board President. Mike remains committed to the quality of life in communities and is a strong advocate for revitalization of downtown areas. Nominations for the Mike Maidenberg Emerging Leader Award are based on the following leadership characteristics: Positive Attitude and Adaptability, Communication and Vision, Integrity, Education and Innovation, Creativity, Intelligence, and Team Building. The 2023 award nominees were Katie Barta, Theresa Brorby, and Gracie Lian. To make a gift to the Mike Maidenberg Leadership Endowment to support future nonprofit scholarships, click here. The Community Foundation of Grand Forks, East Grand Forks and Region is the recipient of the 2023 North Dakota Association of Nonprofit Organizations’ (NDANO) Partnership Building Award. The Partnership Building Award is given to an organization that has demonstrated community leadership and built partnerships within the North Dakota nonprofit sector. “It is an honor to present this award to an organization whose work has reached across so many charitable sectors,” says Dana Hager, NDANO Executive Director. The Community Foundation of Grand Forks, East Grand Forks & Region is a nonprofit, community foundation created by and for the people of the region to encourage a spirit of philanthropy. Working in partnership with hundreds of individuals, families, businesses, and trusted advisers, the Community Foundation manages over 145 charitable funds and provides grants to a variety of nonprofits, schools, libraries, civic agencies, and other charitable causes. “We are committed to transforming collective generosity into the greater good for the region,” said Becca Baumbach, Community Foundation Executive Director. “From strengthening local nonprofits and helping students reach their educational goals, to empowering women leaders and investing in new opportunities for area children, we plan and collaborate to ensure that regional philanthropy has a real impact.” Over the past 25 years, the Community Foundation has deployed over $12 million to improve the quality of life of the region’s residents and enhance the vibrancy of communities. This past year was one of the most impactful years in the Community’s Foundation’s history. In all, the Community Foundation received 462 gifts from donors and distributed a record $1.35 million to improve health and education, aid community and human services, amplify creativity and culture, and support economic development across Grand Forks, Walsh, and Polk Counties. The Arts Regrant Program, for example, has been an invaluable opportunity for many. With funds provided by the City of Grand Forks and the National Endowment for the Arts, the program supports the growth and success of arts and culture organizations and secures their vital role in the community. In 2022, the Foundation distributed the Arts Regrant pot of nearly $260,000 among 14 nonprofits. These funds have proven more impactful than ever as many award recipients continue to recover from the financial and logistical crisis caused by the COVID-19 pandemic. Among last year’s recipients was Arts for Vets, a young organization facilitating the creative expression of military veterans. “We started at my kitchen table in late 2015,” said Kim Wilson, Founder and Executive Director. By 2019, Wilson and other artists had secured a lease for a location large enough to house their quickly growing “nomadic tribe” of members. Wilson didn’t let the pandemic, which hit the U.S. in early 2020, ruin her vision. “We did art and grocery drops, bought iPads and phones for shut-ins, and paid for wireless and internet services for some members so people could stay connected.” By late 2021, the organization launched two substantial art shows. With the help of the Arts Regrant funding, they would go on to do much more. Arts for Vets upped its number of participants last year and more than doubled their audience attendance. “In 2021 we had 51 participants in our classes, and shows reaching an audience of 4,495 people,” said Wilson. “In 2022 those numbers jumped immensely: our participants increased to 219, with shows reaching an audience of 12,601!” The welcomed growth resulted in a need for more space. Thanks to their 2022 award, Arts for Vets now has two locations for year-round shows and exhibits. “We expanded our gallery at 215 N 3rd from 1,000 to 4,000 square feet to accommodate the increased demand for our shows, classes, community space, and studios. In 2022, we had several highly praised exhibits, and we also secured a permanent gallery at the University of North Dakota. Through generous collaboration with UND, our Veteran Artists have a permanent rotating show called Creative Forces located in UND’s old medical school.” The Arts Regrant funding was applied to more than expanding their grounds. “The award assisted us in meeting every aspect of our mission to provide quality classes, production, and mentoring for people that would either not be able to afford those things or not feel comfortable in a less supportive and less personalized environment.” Wilson went on, “I like to say, ‘This group can knit a sweater out of lint if we have to.’ But we had a very limited income last year, and the grant funding helped us to keep going.” Art has long been known to offer therapeutic effects to creators and their audiences. With its resident Air Force base, Grand Forks is a prime location for an organization hoping to help veterans express themselves. “We do not edit people’s expressions to serve any purpose but their own, and even though some of the topics for veterans and participants can be tough, they say they feel completely supported in exploring their thoughts and experiences freely,” Wilson provided. Arts for Vets offers multiple classes, including: Native American Beading, Writing and Poetry, Paint Pour, Art as Small Business, Individual Mentoring for Artists and Musicians, Water Media, Card Making and Collage, Family Art Makers, Frame Shop, Woodworking, Stained Glass, Writing A Great Song, and Spoken Word Presentation. Wilson expects class participation to further increase from 219 to 250 people. “I have the privilege of witnessing artists evolve on their journeys,” Wilson said. “Arts for Vets is honored to hold that space for them, to uplift them and help them be seen.” Wilson, who herself has always found healing through creative expression, believes Arts for Vets to be an integral part of not just an artist’s life, but the community at large. “We provide an interface between the business community and at-risk populations that elevates, equalizes, and celebrates artists and community offerings in a safe, respectful, and fun atmosphere. The Community Foundation’s support contributes to the stability and consistency of these most-needed collaborations.” Recently, the National Endowment for the Arts announced that the Community Foundation was the recipient of a $50,000 grant to assist local arts organizations with their projects in 2024. This funding will bolster support offered through the Arts Regrant Program, increasing the program’s reach next year. Also among last year’s grant recipients was Golden Link Senior Center, which was awarded through the Community Opportunity Grant Program. This particular program focuses on improving the quality of life in our region. Located in Crookston, MN, the Center itself is a pillar of support in the community. “It’s the only place in Crookston for seniors to gather,” said Tamara Parkin, Grant Chair and Secretary of the Board. “We also open our facility to all nonprofit and service groups to hold meetings and events.” Currently, 16 organizations utilize the Center’s building, making it an even more valuable asset to the community. In 2022, Golden Link applied specifically for funds to help with their Educational Programming Series, an eight-week course on medical and legal subjects. “It’s essential to keep current on issues we face as we age,” Parkin said. Some of the programming’s covered topics included general nutrition, stroke and heart attack prevention, and medication management. The funding contributed to the acquisition of course materials and the overall success of the series. As with Arts for Vets, Golden Link saw an increase in patrons last year, as well as a record number of programs. Parkin is excited for this growth to continue into 2023. “You are never too old to learn and to play. We already offer so much variety in our programming, from exercise to movies. We have card playing, music and arts programming, patron trips, and coffee time. We have something for everyone.” But, with a growth-centered mission, the Center wants to do even more. The 2022 Community Opportunity grant award paves the way for greater initiatives, such as bringing in medical specialists to directly discuss health issues older adults often face. Besides serving as a philanthropic partner to donors and nonprofits, the Community Foundation also strives to enhance community engagement through unique, shared opportunities. On September 14, the Community Foundation will once again join with several local organizations to hold the third Longest Table, an international award-winning event that welcomes 1,000 residents to sit down for a free meal in a welcoming environment with people they may not know to foster stronger connections, exchange ideas, and promote community engagement around a central topic. Stay tuned for more information about the Longest Table at longesttablegf.com. The Community Foundation of Grand Forks, East Grand Forks & Region has been approved for a $50,000 Grants for Arts Projects award from the National Endowment for the Arts (NEA) to support local arts and culture nonprofit organizations through the Arts Regrant Program. This program invests in local arts- and culture-based nonprofits that produce quality experiences, enhance educational opportunities, and commit to the growth of new and diverse audiences. This funding supports these organizations as they facilitate the creation of art and cultural opportunities for the benefit of the public. The Community Foundation of Grand Forks, East Grand Forks & Region is among 1,130 recipients across the country, totaling more than $31 million, that were selected during this second round of Grants for Arts Projects fiscal year 2023 funding. “The National Endowment for the Arts is pleased to support a wide range of projects, including the Community Foundation of Grand Forks, East Grand Forks & Region, demonstrating the many ways the arts enrich our lives and contribute to healthy and thriving communities,” said NEA Chair Maria Rosario Jackson, PhD. “These organizations play an important role in advancing the creative vitality of our nation and helping to ensure that all people can benefit from arts, culture, and design.” For more information on other projects included in the NEA grant announcement, visit arts.gov/news. Congratulations to Alex Kroke on receiving the 2022 Mike Maidenberg Emerging Leader Award! A native of Michigan, ND, Alex currently serves as the Assistant Director of Marketing Strategy for the University of North Dakota Marketing & Communication division, a role he’s held since 2018. Prior to his current role, Alex spent 8 years with the North Dakota Athletics department as the Associate Director of Marketing. Alex graduated from UND in 2014 with a bachelor's degree in marketing, and again from UND in 2016 with his Master of Business Administration. In addition to receiving the Mike Maidenberg Emerging Leader Award, Alex has selected Circle of Friends Humane Society to receive a scholarship to attend the 2023 Chamber Leadership Class. About the Mike Maidenber Leadership Endowment and Emerging Leader Award In 2004, the Mike Maidenberg Leadership Endowment was established at the Community Foundation by Grand Forks Herald employees to honor Publisher Mike Maidenberg on his retirement. It was a fitting way to thank and commemorate Mike’s long time civic efforts in Grand Forks. His leadership was instrumental in strengthening our community, especially after the flood of 1997. His leadership presence continued as he was at the forefront of establishing the Community Foundation, serving as our first Board President. Mike remains committed to the quality of life in communities and is a strong advocate for revitalization of downtown areas. Nominations for the Mike Maidenberg Emerging Leader Award are based on the following leadership characteristics: Positive Attitude and Adaptability, Communication and Vision, Integrity, Education and Innovation, Creativity, Intelligence, and Team Building. The 2022 award nominees were Alex Kroke, Becca Cruger, and Jesse Iverson. To make a gift to the Mike Maidenberg Leadership Endowment to support future nonprofit scholarships, click here. Congratulations to Malia Beich of East Grand Forks, MN, the 2022 Grand Forks Republican Women (GFRW) Young Leader Scholarship Recipient. Malia will be pursuing Psychology at Clarke University in Dubuque, Iowa this fall. The GFRW Scholarship is awarded annually to one student who demonstrates a history of leadership, volunteerism, good school citizenship, a strong work ethic, and who has put forth their best effort academically. Applicants must be qualified students planning to or are currently enrolled in any college, university, or trade school in the United States for the upcoming fall semester. This award is made possible by generous donors to the GFRW Scholarship Fund at the Community Foundation. To make a gift to this fund to support our region's students, click here. |