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Oklahoma City Community Foundation 2004 Annual Report

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Oklahoma City Community Foundation 2004 Annual Report 1969 2004 OKLAHOMA CITY COMMUNITY FOUNDATION 2004 ANNUAL REPORT J A pioneer is one who prepares a way for others and that is why John E. Kirkpatrick can be described as Oklahoma City's philanthropic pioneer. When he started the Oklahoma City Community Foundation in 1969, he was literally creating a way for others to follow his lead to support the community through charitable giving. Mr. Kirkpatrick has said that he enjoys helping organizations that help themselves. How very true this statement is. Numerous times during our 35-year history, he has challenged nonprofits interested in helping themselves with dollar- to- dollar match opportunities, not only building their endowment but also attracting new donors. Mr. Kirkpatrick is the single most important reason the Oklahoma City Community Foundation manages the nation's largest agency endowment fund program with more than $1 IO million in assets and 250 nonprofit organ organizationsions participating. This pioneer approach to building nonprofit endowments is virtually unheard of among foundations. Mr. Kirkpatrick's interest in the success of the Oklahoma City Community Foundation and nonprofit organizations remains strong, as does his support. Over the years, he and his family have created several funds at the Oklahoma City Community Foundation. such as the Kirkpatrick Family Fund, that continues to serve as a resource for the community. It is important to note that while Mr. Kirkpatrick's financial support to the Oklahoma City Community Foundation is unmatched. it is just as important to know that he offers more than his wealth. From the beginning he has shared his vision and passion for our community and his heartfelt belief in civic responsibility. Thank you, Mr. Kirkpatrick. 2004 annualReport oklahoma CITY COMMUNITY FOUNDATION I introduction l Dear Friends of the Oklahoma City Community Foundat10n, For 35 years, the Oklahoma Citycommunity beat the benchmark indices. And we ended the Foundaqon has been helping people help the year with assets of$438 million. commumty. Throughout its history, this orga­ Jeanette Gamba retired from the board in n1zat10n has defined itself asa charitableleader 2004 after IO years of service, including three and we pledge to continue this philosophy as president. We appreciate her dedicated In May 2004 the Trustees completed a long service and important contributions as a true range planning effort that acknowledged this leader for this organization. We also welcomed leadership role and identified strategic issues J. Larry Nichols to the board. that will be key to continuing and enhancing In recognition of our 35th year, we featured our services to donors and to the community. John E. Kirkpatrick on the inside cover in The resulting activities will raise awareness and gratitude for his vision that led to the creation provide the facilities and technology necessary. of this organization in 1969. We have also in- Our most recent fiscal year endingJune 30, 2004 was one of growth and activity. Ou1· we hope you enjoy them. number of funds increased to nearly goo while Our first 35 years underlined the power of the amount distributed back into the commu­ philanthropy to affect change in people's lives nity exceeded $11million. In 2004, we were and the community overall. especially pleased with our rate of return on the general investment pool of r5.03 percent and a IO -year return of 10.28 percent. both of which Nancy B. Anthony Nancy BB. Anthony E U tive Director introduction OKLAHOMA city COMMUNITY FOUNDATION 2004 Annual report TABLE of CONTENTS THE OKLAHOMA CITY community FOUNDATION As we celebrate our 35th anniversary, it is appropriate to reflect on our history and the people and activities that have made the Oklahoma City Community Foundation a charitable leader within aur community We were founded in 1969 to serve as the metropolitan area's non-profit public charity that would work with donors and non-profit organizations to create fonds to benefit the community both now and into the future. And for 35years we have not wavered from this mission, Designed byJohn E. Kirkpatrick and others to meet the test oftime, the Oklahoma city community Foundation was modeled after the oldest and finest community foundations in the country. This structure allows us to adapt to the changing needs ofthe community and still ensure that the donor's intent is preserved. today we are known as a leader in the community and the nation far excellent endowment management, disaster relief services, administration ofagency endowment and scholarships funds and an effective Advised Fund Program. Effective Our Trustees commit lo donors that Lhe pur­ We add value to the donor's gift and en­ pose of their charitable gift will be honored. sure that the maximum benefit to charity is Through both our investment practices and achieved. While we provide a wide range of grant programs we seek to maintain and en­ administrative services, an excellent invest­ hance the value of thehe gift and the legacy of ment program and trustees and staff knowl­ the donor. edgeable about community needs and op­ portunities, we maintain a very low cost of operation 10 generate the greatest charitable We can help a donor with almost any kind benefit. of asset and can provide administrative and management services for almost any type of Powerful charitable fund. Our mission is to make it For anyone who gives to charity, the easy for donors to give to charity both by fa ­ Oklahoma City Community Foundation can cilitating gifts and providing funds which help you do it better. We provide important are easy to use and which will meet a donor's financial and tax benefits while offering charitable needs. proven investment performance which in­ creases the value of charitable gifts. Our ef­ Flexible fective administration of grant distributions We can structure funds lo accommodate al­ ensures the greatest community benefit and most any kind of charitable gift. Advised our flexibility gives the donor numerous op­ Funds give donors the opportunity to modify tions to accommodate changing needs and their charitable goals to meet changing needs interests. and interests. A fund can be established us­ ing a variety of assets while recommendations for the charitable use of the gift can be made at a later time. Our expert staff also has the ability to administer a wide range of trusts, annuities and bequests. introduction OKLAHOMA city community FOUNDATION I 2004 Annual Report HELPING YOU PLAN YOUR GIFTS TO CHARITY A planned gift provides several options for someone who wants to make a lasting impact on their community In this sectionwe highlight three donors who have made a difference through planned charitable gifts. The Oklahoma city community Foundation recognizes that each person's planned giving needs and desires are unique and, as a result, offers donors the following options: Wills and Bequests Retirement Plan Assets A donor can designate the entirety or a If a retirement account fund, such as an IRA portion of their estate to an existing fund at or 401(k), has grown beyond a donor's needs the Oklahoma City Community Foundation o,· there is concern about the taxation of or establish a fund with a bequest. This heirs. directing these assets into a charitable option may provide a donor with substantial gift fund can provide significant tax savings reductions in federal estate taxes. while benefittinga charitable interest. Our staff can work with you to establish such How It works a fund so that it becomes the beneficiary recipient of the proceeds of your retirement account. • Include a charitable bequest to the Oklahoma City Community Foundation How It Works in your will. Sample language is available at www.occf.org. • Contact the Oklahoma City Community Foundation to discuss the type of fund you would like to establish. The fund can be in • Meet with the Oklahoma city Commumty your name, in the name of your family, or Foundauon to develop a customized fund in honor of any person or organization you choose or you can choose an existing fund as the beneficiary. • Continue to have access to retirement pla assets during your lifetime. • The Oklahoma City Community Foundation will provide you and your professional advisor with a customized Place cash or other property in a 1rust that fund agreement, which we recommend pays annual income to you or a beneficiary you complete as part of your estate plan. for life or a term of years. Upon the trust's With a customized fund agreement, you termination its assets can benefn an exist­ can change the charitable purpose of ing fund at the Oklahoma City Community the bequest at any time without making Foundation or establish a new fund. changes to your will document. How It Works • Upon your death, the gift is made to the You commit to a charitable gift and receive fund specified in the customized fund income during your lifetime. You can use a agreement with the designated assets set variety of assets including cash, stock securi­ forth in the bequest. ties, real estate and personal property. When appreciated property is used you may mini­ mizecapital gains taxes and receive an imme­ diate charitable income tax deduction as well as reduce the amount of your taxable estate. Utilizing a Charitable Remainder Trust al­ lows you or a beneficiary to receive income while assuring your philanthropic goals are met through an existing fund or with the es­ tablishment of an advised fund from which Continued on next page Charitable Lead Trusts A gift of cash. property 01· assets to the A donor can place cash or property in a Oklahoma City Community Foundation can trust that pays a fixed amount to a chari­ provide a donor with immediate tax benefits table fund at the Oklahoma City Community while ensuring that the donor ora loved one Foundation for a time period determined by receives fixed quarterly or annual income the donor.
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