IPCF NEWSLETTER DECEMBER 2020
Keeping you informed about YOUR Community Foundation!
Celebrating Philanthropy Events
Illinois Prairie Community Foundation hosted its annual Nonprofits Workshop and Philanthropy Celebration virtually on Nov. 19.

Susan Hoblit
The morning workshop focused on "Building Resilience and Opportunities for Innovation." Beth Whisman of the Children's Discovery Museum moderated a panel discussion with Phani Aytam, United Way of McLean County; Candace Summers, McLean County Museum of History; Liz Vincent, City of Pontiac; and B.J. Wilken, Bloomington-Normal YMCA. They discussed how their nonprofits have persevered during COVID-19 and unique changes they have made in light of our "new normal." View a recording of the workshop.

Arthur and Camille Taylor
Susan Hoblit of Atlanta and Arthur and Camille Taylor of Bloomington were recognized as 2020 Philanthropists of the Year at the Philanthropy Celebration which also featured grant recipients Barbara Whiteman of Living Well United in LeRoy; Jodi Martin of the Boys & Girls Club of Livingston County; and Mary Campbell of Dreams Are Possible speaking about the impact that IPCF has had on their programs. View a recording of the celebration.
Also In This Issue
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Annual Campaign

Each spring, IPCF awards General Grants to local programs that focus on education, the environment, health and wellness, and youth. In 2020, 37 programs in our community were awarded nearly $62,220 in funding. View past grant recipients.

Distributions from endowed funds held at the Community Foundation accounted for half of the money awarded in General Grants last year. The other half of the funding for those grants comes from our Annual Campaign. Last year, our Annual Campaign received $31,179 in gifts from generous donors who recognize the need in our community. 

The need for funds to support grants to local nonprofits in our community is great: we typically receive requests for up to four times the amount of money available to award in General Grants. 

If you haven't done so yet, please consider making a gift to IPCF's Annual Campaign. One gift from you will benefit many local organizations. 100% of gifts to the Annual Campaign support the General Grants. To make an online donation to the Annual Campaign, click here. If you prefer to make a donation in another manner, click here for information.
Our Impact in the Community
Many of our grant recipients and component funds have been active this fall. Read more about these programs to see the impact we're having in the community:
Recently Added Funds
These funds were recently opened at IPCF:
  • Benjammin Bash Field of Interest Fund 
  • Focus and Vision Ministries Fiscal Sponsorship Fund
Are You 70½? Do You Have an IRA?
Did you know that you could reduce your taxable income by donating your required minimum distribution (RMD) to a qualified charity? 

Community Foundations are public charitable foundations and, as thus, are eligible to receive RMD donations into any endowment, fiscal sponsorship or field of interest fund. 
  • As an IRA owner, when you are 72 or older, you must take a RMD every year. A tax benefit favorable to IRA owners is called an IRA Charitable Rollover, also known as a Qualified Charitable Distribution (QCD).
  • Each year you may contribute up to $100,000 of your RMD directly to a
    qualified charity like Illinois Prairie Community Foundation. This allows you to avoid declaring the income from the distribution, which would otherwise be taxed at your highest marginal rate.
  • The CARES Act suspended required distributions for 2020. But, if you are over 701/2 (the previous start date for RMDs), you may still benefit from using you IRA to make a direct transfer to a qualified charity and avoid tax on the distribution.
  • If you are making a distribution from your IRA into a charitable fund at IPCF, please send us an email or call our office (309-662-4477) to let us know to expect the check. Allow for extra time to process the distribution before the end of the year.
Contact your financial planner for details on how to take advantage of this opportunity.
Illinois Prairie Community Foundation  |  309-662-4477  |  www.ilprairiecf.org