COMMUNITY  FOUNDATION  OF  THE  FOX  RIVER  VALLEY
e - MEMORANDUM 
 
April, 2013
Welcome!

It is my pleasure to present to you the Community Foundation of the Fox River Valley's first edition of the e-MEMORANDUM.

 

An extension of the Community Foundation's current quarterly MEMORANDUM, this e-newsletter is published for the benefit of community foundation donors.

 

This monthly publication will provide brief updates on recent happenings at the Community Foundation, as well as information on upcoming events in the community.

 

We are happy to provide this e-MEMORANDUM to all donors within our database.  We are grateful for your support and thank you for your philanthropy.  For the past 65 years, you have supported this community at an unprecedented level, and it is truly our pleasure to be the vehicle for your generosity.

 

It is my hope that you will continue your involvement with the Community Foundation!

 

I encourage you to visit our website by clicking here!

 

Thank you again for all you do for the community foundation.  I look forward to hearing from you soon!   

 

 

 

Sharon Stredde

President & CEO

sstredde@CommunityFoundationFRV.org 

   

Did you know that because of your support

the community foundation......

  

Manages more than $66 million in total assets; making it the second largest community foundation in Illinois, second only to the Chicago Community Trust.

  

Has granted more than $45 million to not-for-profit organizations. 

Combined with its assets, the community foundation has a total philanthropic capital

of more than $110 million! 

 

Manages more than 400 individual funds

including nearly 250 endowments.

 

Distributed more than $823,000 in scholarships to students in Kane and Kendall Counties in 2012. 

In 2013, we expect to distribute $930,000 to nearly 600 students. 

 

Has an Administrative Endowment that recently surpassed $5 million!

In 2012, the community foundation kept administrative costs

to less than 6% of its entire budget!

 

What Will Your Legacy Be?
  
Over the past 65 years, the community foundation was privileged to have been the recipient of more than $18 million in bequests from 106 individuals.  These individuals were committed to raising the quality of life for those who live and work in the Fox River Valley - even after their lifetimes. 
 
It is a great honor and responsibility to perpetuate the charitable intentions of our community leaders.  We remember the 106 individuals who have made a distribution to the Foundation from their estates, and we thank the more than 80 living members who have made that commitment and have joined the Foundation's Legacy Society. 
 
What will your legacy be?  Contact us today if you are interested in including the Foundation in your estate plan. 
  

 

Did You Know.....

An estate gift of $50,000 would initially provide nearly $3,500 in annual grants. 

Through prudent investment strategies, the estate gift will continue to grow, thus increasing its grantmaking capabilities...FOREVER!

 

 

Interested in Preserving Your Family or Agency's History?

 

How would you like to have a professionally produced video preserving the historical impact of your family or agency on the community? 

 

During the past two years, the Foundation has begun preserving the history of its fundholders and their families through these videos.  Some of the videos include founding member of the Foundation William B. Greene, and Aurora's very own Paramount Theatre.  They have quickly become the topic of conversation throughout the Fox River Valley and community foundation constituents.

 

The Foundation would enjoy meeting with you to discuss creating a video specifically for your family or agency. 

 

Watch any of the Foundation's 13 videos by clicking here! 

  

 

Donor Spotlight 

 

In 2011, the Neal and Mary Clark Ormond Endowment Fund was established to benefit educators of District 129 in their pursuit of continuing education opportunities.  Earlier this month, the Ormonds established a second endowment fund; this one to benefit the Aurora Historical Society. 

 

Neal Ormond has lived in Aurora almost his entire life.  In his professional career he served as a vice president of the Quaker Oats Company, and he retired in 1995 after nearly twenty years as vice president of Human Resources for W. W. Grainger, Inc.

 

A native of Chicago, Mary Clark Ormond served as head of the Aurora Public Library in the 1970s and as a volunteer has served as president of such organizations as the Aurora Historical Society, the Tuesday Garden Club and the Aurora Festival Association.

 

For more than 25 years, the Ormond family - going back to Neal's father, Neal Sr. - has been associated with the community foundation.  We thank the Ormond family for their gifts - both monetary and of time - and dedication to the growth of the community foundation.

 

Click Here to Learn More About Neal and Mary Clark Ormond 

  

 

A Buffett Rule Worth Following

Oilman Joseph Pew likely didn't expect the charity endowed with his fortune to fund environmentalism and other leftist causes.

 

By Leslie Lenkowski

 

In 2011, a research study conducted by Indiana University's Center on Philanthropy revealed that annual charitable gifts from households whose wealth came from their own business or their family's were no different, on average, from the gifts of those who had inherited their wealth. An earlier version of the study, conducted in 2007, before the onset of the recession, found that current-generation business owners and their relatives were giving three times as much as heirs and heiresses did. Far from holding on to every hard-earned cent, in other words, entrepreneurs were as philanthropic as those born into wealth, if not more.

This surprising fact propels "Why Philanthropy Matters," by Zoltan J. Acs, a professor at George Mason University. Mr. Acs has spent his career studying how entrepreneurs operate and what role their business ventures play in the economy. In his new book, he focuses on another kind of contribution they make, one that, he argues, is as essential for prosperity as the products and services they create.

 

Successful entrepreneurship, he writes, requires a steady stream of innovations. The best places to develop them are privately funded research universities, medical centers and other kinds of institutions-like libraries and laboratories-that are insulated from competitive and political pressure. He cites, among other examples of nurtured innovation, the agricultural advances developed in land-grant universities during the 19th and 20th centuries and the contributions made to the information age by the students and faculty of Stanford University. As important as industrial research may be, the university has become, since the 1980s, "the source of new knowledge to be transferred to the private sector."

 

Click Here to Read the Entire Article

 

 

 

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