The Nebraska Community Foundation works with community, organizational and donor-advised affiliated funds serving 250 communities located in 80 counties. NCF and its affiliated funds have reinvested $269 million in Nebraska since 1994.
Nebraska Community Foundation (NCF) and its affiliated funds cannot conduct raffles or lotteries as fundraisers.
A state license is required to conduct raffles or lotteries, and there are numerous specific requirements that must be met in order to be eligible for a license. NCF does not meet the requirements to qualify for a license; and as affiliated funds are not separate legal entities from NCF, they cannot apply/qualify for a license separately.
NCF and its affiliated funds may accept as a contribution the net proceeds from a raffle or lottery conducted in accordance with the law by an organization that holds a Nebraska license to conduct these types of fundraising activities. “Net proceeds” means the gross amount raised from the lottery or raffle less the associated expenses (including the 65% minimum payout amount, a 2% tax on gross proceeds and the out-of-pocket costs such as printing tickets).
NCF will not make disbursements to pay the costs associated with a lottery or raffle, regardless of whether the organization conducting the lottery or raffle has a license.
The late Richard Manning admitted that he liked to kid around. However, the charitable gift that he and his wife, Louisa, made will have a truly meaningful impact for generations to come.
Richard and Louisa Manning, both 1944 graduates of Exeter High School, used a charitable IRA distribution to make a $50,000 challenge grant to the Exeter Community Foundation Fund to establish an unrestricted endowment. The Charitable IRA Rollover law allows those age 70½ and older to transfer funds from an IRA to a charity tax free. Their hometown community successfully raised over $100,000 in additional funds in just two years, creating a $150,000 permanent endowment.
In addition, Mr. and Mrs. Manning contributed $50,000 to the Nebraska Community Foundation’s endowment.Read more →