|11/21/2013||Community Spirit matching fund campaign underway|
Tenth annual Community Foundation fund-raiser to benefit local non-profits
The Wet Mountain Valley Community Foundation announces the launch today of the tenth annual Community Spirit matching funds campaign to benefit Custer County’s non-profit organizations.
Since the Community Spirit Campaign’s inception a decade ago, more than $1.7 million has been distributed to virtually every non-profit organization here.
Through the campaign, individual donors make financial gifts to any qualified local non-profit organization, and then those gifts are matched on a pro-rated basis by funds set aside by the Community Foundation and other donors.
This year, a minimum of $35,000 will be available for matching purposes, with $25,000 coming from the Community Foundation and $10,000 from the Anschutz Foundation of Denver, a long-time partner in the Spirit Campaign. Additionally, individual donors can contribute to the matching fund pool, thus increasing the match amount.
In previous years, the matching amount typically has ranged from around 25 cents to 40 cents on the dollar, meaning that a one dollar gift to a local non-profit results in $1.25 to $1.40 being distributed to that organization.
Due to IRS regulations, Community Foundation funds can only be distributed to qualified 501(c)3 organizations or to government equivalents such as the school, the fire district or the hospital district. The non-profits must be headquartered here, or provide direct services to the residents and visitors of Custer County.
There are more than 60 local non-profits that qualify; a profile of many of those organizations appeared in the Community Foundation’s Annual Report and Guide to Local Non Profits which appeared in last week’s Tribune. Copies are also available free of charge at the Tribune office and at several outlets throughout the community.
Donors must use the campaign’s coupon, which can be found elsewhere in this week’s Tribune or on the foundation’s website at www.wmvcf.org.
Beginning this year, donors will be allowed to make contributions with credit cards through the website.
To make a donation using the coupon, list one or more non-profits to which your funds will be distributed and the amount of your gift to each. Make sure that the check is made payable to the WMV Community Foundation.
Matching funds are only applied to a maximum of $1,000 donation from any individual, family or business. Some donors give more than that amount, and matching funds are pro-rated accordingly.
Past donations have ranged from one dollar to $16,000. As many as 800 donors from here and throughout the nation and overseas contribute to the campaign each year.
The campaign concludes on Dec. 31, at which time the matching funds are pro-rated to the total donations received. Funds are distributed to each local non-profit in mid-January, and the local non-profits are able to use those donations in any manner they see fit.
Also, the Community Foundation, itself a 501(c)3 organization, issues formal acknowledgement letters to all donors for tax deduction purposes.
For more information about the campaign, please contact any member of the Community Foundation’s board of directors: Jim Little, 783-2361; Don Kaufman, 783-2865; Arlie Riggs, 783-2362; Randy Rusk, 783-0505; Vic Barnes, 783-0335; Butch Gemin, 371-6879; or Don Hopkins, 783-9336.
The Wet Mountain Valley Community Foundation was established in 1999 thanks to a generous gift from a local family. Today, the foundation has financial assets of approximately $800,000 which are conservatively maintained by the all-volunteer board. Since its inception, and including the Community Spirit Campaign, nearly $2 million has been shared among local non-profit organizations working in a broad range of services including human services, education and scholarships, the arts, historical preservation, sports and recreation, public health and safety, the environment, youth and senior services, animal welfare and other programs and services that improve the quality of life for residents and visitors in Custer County.
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