2017 ANNUAL REPORT UNION COUNTY FOUNDATION Invest Today . Shape Tomorrow. A MESSAGE FROM THE EXECUTIVE DIRECTOR 2017 - The Year in Review 2017 for the Union County Foundation will be remembered as an “Annus Mirabilles” ...translated wonderful year. A strong economy, a growing awareness of the Foundation, and Union County communities populated with caring and generous people all contributed to the year’s success. We believe one of the most important measures of our success is how much are we distributing in grant dollars. In 2017 we distributed over $1,065,000 (including named Funds, fund raising costs). This represents the highest distribution level in our history. This amount includes over $156,000 in scholarship awards and raises our total scholarships awarded since 2005 to over $1,000,000. We believe we are making an important contribution to the quality of life in Union County. Our total assets eclipsed the $10,000,000 milestone in 2017 and we increased the number of named funds housed at the Foundation to 100. These factors contributed to our achieving a long term goal of base sustainability. Our three main community fund raising events; Marysville Charity Car Show, Covered Bridges Cycling Tour, and Foundation Celebration, continue to grow and prosper. We are so very grateful to all the local sponsors and event attendees. These events are among those that make Union County a vibrant and appealing place to live, work, and raise our families. Any organization is only as good as the people that work there. Staff member, Sue Devine has completed fifteen years of exemplary service to the Foundation. Her accounting prowess, love for the community, and “people skills” have greatly contributed to the Foundation’s success. Thank you Sue! Special thanks to the men and women that comprised our 2017 board of trustees: Chad Hoffman (Chr.), Mardy Hanlon-Stolte (Vice Chr.) David Allen (Sect./Treas.), Bruce Daniels, Eugene Mayer, Ryan Mickelson, Joseph Mitchell, Dr. Jennifer Morrison, Chris Schmenk, Alan Seymour, Dr. Victor Trianfo, Jim Vandre, Holly Underwood, Carol Young Ph.D., and Ron Zimmerly. David Vollrath Executive Director P.S. The Foundation’s IRS Form 990 is available for public review during scheduled office hours or can be viewed at http://dynamodata.fdncenter.org/990s/990search/esearch.php 1 OUR UCF OFFICERS 2017 FOUNDATION OFFICERS Chad Hoffman - Chairman Mardy Hanlon-Stolte - Vice Chairman David Allen - Secretary/Treasurer David Vollrath - Executive Director Sue Devine - Director of Finance 2017 Foundation Trustees David Allen Chris Schmenk Bruce Daniels Alan Seymour Mardy Hanlon-Stolte Victor Trianfo, D.O. Chad Hoffman Jim Vandre Eugene Mayer Holly Underwood Ryan Mickelson Carol Young, Ph.D. Joseph Mitchell Ron Zimmerly Jennifer Morrison, M.D MISSION STATEMENT To assist individuals and organizations with the accumula- tion, investment, and distribution of charitable dollars. VISION STATEMENT To enhance the quality of life for all the citizens of Union County by promoting and facilitating charitable giving in Un- ion County. 2 COMMUNITY FOUNDATIONS Community foundations are grant making public chari- ties that are dedicated to improving the lives of people in a defined local geographic area. They bring together the financial resources of individuals, families, and busi- nesses to support effective nonprofits in their communi- ties. Community foundations vary widely in asset size, ranging from less than $100,000 to more than $1.7 bil- lion. Community foundations play a key role in identifying and solving community problems. In recent years they have given an estimated $4.3 billion annually to a variety of nonprofit activities. These activities include the arts and education, health and human services, the environment, and disaster relief. The Community Foundations National Standards Board confirms operational excellence in six key areas: mission, structure, and governance; resource develop- ment; stewardship and accountability; grantmaking and community leadership; donor relations; and communica- tions. Foundations that comply with these standards can display the official National Standards Seal. Nearly 500 community foundations have earned the seal. The Union County Foundation has earned this accreditation. More than 750 community foundations operate in urban and rural areas in every state in America. The communi- ty foundation model also has taken hold around the world. According to the Community Foundation Global Status Report there are approximately 1,700 community foundations in 51 countries. Forty-six percent exist out- side of the United States. 3 Questions To Consider 1. Are you planning to leave a charitable legacy through your estate plan? 2. Have you designated the community foundation or your fa- vorite cause as beneficiary of retirement assets? 3. Have your retirement savings and investment growth ex- ceeded your expectations? 4. Do you take the standard deduction on your tax return and make annual gifts to your favorite charities? 5. Do you take minimum distributions from your IRA but have adequate alternative sources of income? 6. If you take greater distributions from your retirement plans, does doing so affect the amount of Social Security benefits that are taxed? 7. Is there a special cause that you care about? 8. Would you like to benefit your community with a permanent funding stream? 9. Do you want to know your charitable gift will make the greatest impact? 10. Did you know that the Union County Foundation will help you design and implement a charitable legacy plan? 4 1. Prepare a will. This is very easy to accomplish but alarmingly, it is estimated that over 50% of people in Central Ohio do not have a will. If you die without a will you have essentially lost control of what happens to the assets you have worked a lifetime to accumulate. Establishing a proper will through an attorney is easily accomplished and relatively inexpensive. There is no good reason to delay this process. Do it now! 2. Leave a gift in your will for the charitable organizations that make a difference in your life. Statistically very few wills (less than 3%) include a charitable gift provision. We all should include some gift provision to charity. A gift of any size can help make a difference and if everyone’s will included at least some charitable gift the impact would be significant. 3. Leave a % of assets or a specific dollar amount to your favorite charity. This is an easy way to make a charitable gift. Such a provision can be part of a new will or added to your existing will by simply contacting your attorney. 4. Consider using non-cash assets for your charitable gift. Many people never consider using assets such as real-estate, stocks, bonds, collectibles, life insurance, etc. to fund charitable gifts. Gifting these assets can yield substantial tax advantages. 5. Name your favorite charity as the beneficiary of your IRA or pension plan. Your plan likely would allow you to leave a % to your favorite charity. 6. & 7. Purchase a life insurance policy naming your favorite charity as beneficiary or name your favorite charity as beneficiary (partial or whole) of an existing policy. Significant tax savings can occur if a charity actually assumes ownership of the policy. 8. Honor deceased loved ones with memorial gifts to charities. This could be expanded to establishing a memorial donor advised fund through the Union County Foundation. 9. Encourage family members and friends to include charitable gifts in their estate plans. Maybe your gentle reminder will be the motivating factor. 10. Ask your financial advisor to include charitable giving as part of their “counsel” to other clients. Imagine the positive impact if every client were encouraged to include some form of charitable giving in their estate plan. 5 PICK A FUND TYPE THAT’S RIGHT FOR YOU Donor Advised Funds. You can have ongoing involvement in the use of your gift. You work with our professional program staff, identifying ways to use dollars from the Donor Advised Fund you establish to address the issues and needs you care about most. Your recommendations are submitted to our local board for approval; we then distribute grant dollars. Unrestricted Funds. Your gift can address ever-changing community needs — including future needs that often cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being — arts and culture, economic development, education, environment, health and human services, neighborhood revitalization, and more. The flexibility of your unrestricted gift enables your community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow. Field of Interest Funds. You can target your gift to address needs in an important area of community life. Arts. Aging. At-risk youth. You identify your personal interest area when making your gift; our board awards grants to community organizations and programs that are making a difference in the area you select. Scholarships. You can invest your gift in our community’s future and show students you care, all with the guidance and personal services of The Union County Foundation. You determine the criteria students must meet to receive the Scholarship you establish. With your assistance, students achieve their academic and career-oriented goals —from preschool to postgraduate work. Designated Funds. You can direct your gift to a specific nonprofit organization or purpose. Help provide ongoing funding for a senior center, hospital, or virtually any nonprofit charitable organization. Nonprofit organizations can use a Designated Fund through the Union County Foundation to build their endowment and enhance their ability to accept large and complex gifts. Supporting Organizations. You can use your gift to establish an excellent alternative to a private foundation — with only a fraction of the administrative responsibilities. You maintain personal involvement and support the causes and organizations you care about while enjoying the favorable tax treatment of a public charity.