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July 16, 2003 For more information or a printed version of this release, contact: Jeff Yost (402-323-7332) or jeffyost@nebcommfound.org Community Foundation Established for Mullen Area Mullen, NE - A community foundation for the Mullen Area has been established as an affiliated fund of the Nebraska Community Foundation. The Mullen Area now joins 80 other rural towns and counties in Nebraska in attracting charitable gifts for community betterment and economic development projects. Ron Boyer is the chairman of the newly formed foundation. Dale Ginkens, is vice-chairman; Angie McCully is secretary; and Kirk Jacobs is treasurer. Other directors are Dr. Steve Boyer, Bob Bragg, Dan Deibler, Mitch Glidden, John Kraye, Dick Macke, Rex McDowell, Bryan Starr and Carol Wright. The foundation has been established to receive tax-deductible gifts of cash, property, bequests and other gifts supporting the betterment of Mullen and the surrounding area. Other community foundations in rural Nebraska have used charitable giving to help build community centers, parks and recreation facilities, medical clinics and other community facilities. They have supported the projects of various local organizations and have established scholarship funds. The Mullen Area Community Foundation will first focus on developing an unrestricted endowment for the Mullen Area. The interest generated off of the endowment fund will be used each year for community betterment projects and grant making. Mullen will also focus on business development. Al Davis, Hyannis rancher and Nebraska Community Foundation board member said, "The Board of the Nebraska Community Foundation is excited about adding new local foundations in the Sandhills. These community foundations are an excellent way for benefactors to support their local community and to build a future funding source for needed community projects. The community members who worked to establish their own local foundations are to be commended for taking the necessary steps to get this off the ground." There are 54 communities that are actively beginning to build permanent endowments of substantial size. The yearly earnings from those endowments enable the foundations to make grants to local projects and programs, each year, forever. Those communities now have nearly $17 million in assets and expectancies, an increase of 60 percent in the last year. The Burwell Community Fund began in 1997 and they have built a broad grass roots support, with more than 600 individual contributions to the community, totaling more than $275,000. Only one of the donations has been more than $25,000 and 83 percent of the donations have come from local residents. The Nebraska Community Foundation is very interested in the intergenerational transfer of wealth that is now occurring in the United States and Nebraska. It is vital that rural communities such as Mullen build endowments to keep some of the wealth at home. (Hooker County’s peak transfer of wealth is estimated to occur in the year 2010, seven short years away.) The Nebraska Community Foundation has helped its affiliated funds raise nearly $50 million since it’s beginning in 1993. More than $32 million has been distributed back to community betterment and economic development projects and programs. Current assets are $17 million. Another $16 million in expectancies (planned gifts and known wills and bequests) have been designated by other donors. Consolidated Companies, the area's local telephone, internet and cable TV provider is committed to the Mullen Area and its success. Their contributions have been a huge factor in staffing the Nebraska Community Foundation Assistant Development Director's position held by Jana Jensen of Bingham. Jana will be working with the Mullen Area and many other Western Nebraska towns and villages in establishing foundations and assisting with community development projects. The Nebraska Community Foundation is a nonprofit, charitable organization that provides financial management, strategic development and education/training services to communities, organizations and donors throughout Nebraska. It was incorporated in August 1993 and received its 501(C)(3) charitable foundation status from the Internal Revenue Service in 1994. It accepted its first affiliated funds in 1994 and now has over 154 affiliated funds operating in about 70 of the state's 93 counties. Regular meetings of the Mullen Area Community Foundation will be held the third Tuesday of each month at the Library meeting room at 7:00 p.m. Anyone is invited to attend. Membership dues are $35.00 per year. For more information on the Mullen Area Community Foundation, please contact Ron Boyer at 308-546-2636 or Jana Jensen, Assistant Development Director of the Nebraska Community Foundation at 308-588-6299 (e-mail: janajensen@nebcommfound.org.) --30-- Return to TOP |
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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 |
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