REGIONAL UPDATE – MAY 2008
E – NEWSLETTER
COMMUNITY FOUNDATION OF THE OZARKS
417-864-6199 | 1-888-266-6815 | www.cfozarks.org
May 5, 2008
In This Issue:
• Charitable gift annuities
• CFO recognizes scholarship recipients
• GiftLaw supports planned giving strategies
• New funds
Charitable gift annuities are a great way to give something back
A Charitable Gift Annuity provides a means for donors to make charitable gifts and receive life incomes. The donors may choose to benefit someone else during their life and designate successor beneficiaries. Community Foundation of the Ozarks can work with your affiliate foundation to assist donors in establishing a Charitable Gift Annuity (CGA). The minimum for this type of gift is $5,000.
At the time of the gift, a contract is established between the charity and the donor. The donor transfers an asset(s) to the charity and the charity agrees to make lifetime payments to the annuitants based on the age of the donor and the size of the gift. (Annuities are paid by Mutual of Omaha, the re-insurer of CGAs established with CFO.) Apart from the life income, the donor’s contribution will provide a gift that will be placed in an existing or new endowment fund within the Community Foundation of the Ozarks, as specified by the donor. For more information about CGAs visit our web site, http://www.cfozarks.org/donor-services/ways-of-giving/, or feel free to give us a call at (417) 864-6199.
CFO to recognize scholarship recipients and donors
CFO will host its annual reception for scholarship recipients on Tuesday, May 6 at CFO. The event gets underway at 11 a.m. More than 100 students representing communities throughout the Ozarks will be recognized at the event. After the event, attendees will have the opportunity to attend the Springfield Cardinals game.
This year, Community Foundation of the Ozarks will award more than $565,000 in scholarships to 340 students from approximately 200 scholarship funds administered by CFO and its 40 regional affiliate foundations. This includes renewals for two and four year scholarships. Scholarship programs continue to be an important means of giving something back to the community by affording young people the opportunity to pursue a higher education. CFO manages more than $14 million in assets devoted to scholarships.
GiftLaw supports planned giving strategies
Planned giving is an essential part of any nonprofit organization’s plan for long term sustainability. Community Foundation of the Ozarks is committed to assisting our affiliates and endowment partners with building a planned giving program to support their organization. GiftLaw is a weekly newsletter distributed via email focused on planned giving. GiftLaw offers news and information related to planned giving, it can assist your organization in its work with financial professionals in implementing and maintaining your organization’s planned giving strategy.
To learn more about GiftLaw visit the web site, http://www.giftlaw.com/giftlaw.jsp?WebID=GL2000-0189. If you would like to subscribe to the weekly GiftLaw newsletter distributed by CFO, sign up on the front page of the GiftLaw site or just reply to this message and let us know you’d like to receive it.
CFO’s staff is always pleased to visit with your organization concerning planned giving. Contact us at (417) 864-6199 with questions about planned giving or to develop a strategy for your organization.
A complete list of all new funds established in February is available on our web site, www.cfozarks.org.