ABOUT THE FOUNDATION

In Wymore, an anonymous donor provided a gift of nearly $345,000 to build an addition to the existing Carnegie library.  The gifted mutual fund was purchased in the early 1960s for less than $20,000.  By donating this highly appreciated stock into a donor-advised fund managed by the Foundation, the donor avoided paying capital gains on nearly $325,000 and will have significant income tax deductions for the next five years.  Most importantly, the donor will leave a lasting legacy to Wymore.

In Valley County, John and Alyce Wozab made a great life for themselves for nearly half a century.  Upon death, the couple left a lasting legacy to Valley County to help sustain this quality of life: a charitable bequest in their wills worth nearly $1.25 million.  The gift was open-ended, instructing the County Board of Supervisors to use the annual earnings to provide grants for community and human services needs, and to continue basic services such as the veterans services officer and county food pantry.  In the first year, the Fund will distribute $50,000 in small grants.  In addition, by providing this charitable gift in their will, the donors were able to avoid paying federal taxes on their estate, which could have been 50 percent or more.  These federal taxes are applicable for any estate more than $650,000.

These stories are just three of dozens now happening annually thanks to generous donors and the services provided by the Nebraska Community Foundation.  Other community success stories include $667,000 for community betterment in Tekamah, $100,000 to protect the community drinking water supply in Talmage, $95,000 for youth ball programs and the Village Auditorium in Bellwood, and many other gifts for medical centers, scholarships, swimming pools, community arts and culture, playground equipment and youth facilities.

The Nebraska Community Foundation, headquartered in Lincoln, is a nonprofit, charitable organization providing financial management, strategic development and education/training services to communities, organizations and donors throughout Nebraska.  Started in 1993, the Foundation provides affiliated fund status (allowing communities or organizations to achieve non-profit charitable status without forming their own non-profit corporation) and strategic development assistance in over 160 communities throughout Nebraska (see map of affiliated funds).  The Foundation has distributed $65 million to community betterment projects of its affiliated funds and has $37.2 million in total assets under management.

The Foundation exists to help concerned individuals mobilize charitable giving to support the betterment of Nebraska communities and organizations.  To this end, the Foundation assists many communities in rural Nebraska to provide or continue essential services, such as health care, telecommunications, K-12 education, environmental protection, libraries, community centers, parks/recreation and scholarships.

Frank Sibert, a retired Valentine rancher and Vice Chair of the Foundation, possibly put it best by stating “People have plenty of opportunities to give their money away.  Why not give it back to the community where you lived and made your money?”

Why not indeed?

Nebraska’s rural communities are undergoing profound changes.  From agricultural consolidation to reduced federal funding to property tax levy limits and spending lids,  all of these changes are constraining private sector and local governments’ ability to invest in critically needed new technologies, equipment and community facilities. 

Where will these monies for community investment come from?  The Community Foundation has evidence to support the notion that Nebraska communities can help themselves—through charitable gifts from local donors and former residents.

Researchers at Boston College estimate that in the next 30 years, more than $41 trillion will be transferred from one generation to the next in the United States.  Using the Boston College assumptions and methodology, Foundation staff estimate that $250 billion will be transferred in Nebraska in the next 25 years, and nearly $100 billion of that in rural Nebraska (places of 10,000 and less).  If only five percent of this wealth was gifted to community betterment projects and endowments, it could equate to $5 million for a Nebraska community of 1,000.

If a significant portion of this wealth being transferred is not captured for community betterment, it may be lost to federal estate taxes or heirs who no longer live in their hometown or Nebraska.  No one is suggesting that heirs should be short-changed.  By engaging in good estate planning, heirs can be taken care of and communities can be provided a lasting legacy—making for the best of both worlds.

Giving back is easy, but it doesn’t just happen.  Research indicates three essential elements must be present for a charitable donation to occur:  

(1) Donor is aware of the need; 

(2) Donor is supportive of the cause; and 

(3) Someone the donor trusts discusses the opportunity to give back with them.  

Most substantial charitable donations occur  because someone the donor trusts discusses the project with him or her.  Asking is essential.

The Foundation helps communities and organizations make this happen.  To equip communities with fundraising skills, the Foundation provides training sessions to local leaders and volunteers.  In 1999, more than 400 Nebraskans attended 28 training sessions.  These training sessions focus on issues such as strategic planning, fundraising strategies, estate planning and donor visitation techniques.

Together, we can help sustain and enhance Nebraska communities for today and tomorrow.

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Nebraska Community Foundation

PO Box 83107

Lincoln, NE  68501

Phone: (402) 323-7330    Fax: (402) 323-7349

E-mail: webmaster@nebcommfound.org