We are very excited to launch our monthly newsletter aimed at keeping you informed on the latest news regarding charitable giving, tips to reach your philanthropic goals, as well as stories on the impact that the Lapeer County Community Foundation is having across Lapeer County.

The work that we do is only made possible through the generosity of our donors. Whether you have supported us financially, through gifts large and small - or through your time or talent - is is deeply appreciated. Working together over the past twenty-five years, we have been able to grant over $5.3 million dollars back into our Lapeer County communities. 

We are YOUR community foundation and we welcome your input. Whether it is suggestions for the newsletter, or ways we can better serve your needs - feel free to reach out and give me a call. Better yet, let's schedule a time to meet. The coffee is always hot and our office located in the historic courthouse is always open for visitors. Our place, or one of your choosing - together we can work together to Give today. Impact tomorrow. 

Best regards,

Nancy

Nancy Boxey

Executive Director

nboxey@lapeercountycf.org

810.664.0691

If you’ve not yet considered establishing a donor-advised fund at the Foundation to organize your charitable giving, you may be missing out. And if you’re already using a donor-advised fund at LCCF to organize your giving, it never hurts to review the benefits you’ve been receiving.

Donor-advised funds are popular because they allow a donor to make a tax-deductible transfer of cash or marketable securities that is immediately eligible for a charitable deduction. The donor can recommend gifts to favorite charities from the fund when the time is right. A donor-advised fund operates a lot like a checking or savings account just for charity, and it’s established according to specific IRS guidelines that create tax advantages and govern administration.

A donor-advised fund can be an effective alternative to a private foundation,

thanks to fewer expenses to establish and maintain, maximum tax benefits

(higher AGI limitations and fair market valuation for contributing

hard-to-value assets), no excise taxes, and confidentiality (including the

ability to grant anonymously to charities).

A donor-advised fund at the community foundation is frequently a more effective choice than a donor-advised fund offered through a brokerage firm (such as Fidelity or Schwab). That’s because, at a community foundation, you and your family are part of a community of giving and have opportunities to collaborate with other donors who share similar interests. In addition, you’re supported in strategic grant making, family philanthropy, and opportunities to gain deep knowledge about local issues and nonprofits making a difference. 

We recognize that many people are concerned about the uncertainty in the market and the value of their investments. For some that we've spoken with, they are hesitant to commit to establishing a new fund with the Foundation as they are unsure of meeting the endowment requirement. To ease that stress and support your charitable intentions today - we are offering a 50% match on their initial gifts to establish a fund, up to $5,000. This provides you with the benefit of matching funds and a quicker path to meeting your charitable goals. A win-win for you, and our community!

Examples of impact this past year from several of our donor advised funds:

The Clarke Adams Memorial Fund provided a $5,000.00 grant to support the construction of the first dog park in Lapeer County. 

The fund was created and named in memory of Clarke Adams. Clarke was a 1970 graduate of Lapeer High School and passed away in 2001 at the age of 47. A group of his friends worked to establish the fund. This fund has supported a variety of charitable needs including in 2016 the fund provided grants for the signage by the main entrance of the new LCS athletic complex.

Thomas Daley passed away in a tragic farm accident in 2011 at the age of 23. After his passing, the family established an agricultural scholarship in his honor. The $5,000 scholarship has been funded in perpetuity and continues to be granted to a new student in Lapeer County each year.

In 2019, the Daley family created the Thomas Daley Memorial Fund, a Donor Advised Fund. This year the Thomas Daley Memorial Fund has chosen the 42 Strong Foundation in Oxford as the recipient to honor the memory of 16-year-old Tate Myre who was a victim of the Oxford High School tragedy.

According to statistics gathered by the National Scholarship Providers Association, approximately $100 million in scholarship money is left sitting on the sidelines each year, unused. Even though the number of scholarships awarded in the United States has increased overall by more than 45% over the last decade, not enough students are applying. These are sobering statistics, considering that the burden of tuition and student loan debt is weighing heavily on America’s young adults. 

This presents a challenge for you and other donors who are interested in supporting education as a charitable giving priority. On one hand, you want to help students get the education they need to thrive in their careers. On the other hand, no one wants to fund a scholarship that goes unused.

The community foundation can help. Our team will work with you to establish a tailored charitable giving plan that meets your desire to support education while helping to ensure that the money does not go unused. 

First, we’ll help you think broadly about education. Limiting a scholarship fund to four-year institutions could result in a lot of missed opportunities. A college or university is not the only option for post-secondary learning and career readiness. Community colleges, trade schools, vocational programs, and out-of-the-box learning experiences may be a better fit for some students. The community foundation can even help you structure gifts to support teachers, classrooms, and school districts, all of which need resources to deliver the best possible education to students.  

Next, our team will help you craft the criteria for the scholarship so that it is not too narrow. In other words, casting a wide net can be important to ensure a strong pool of applicants. Limiting scholarship recipients to a small geographic footprint, area of study, or very specific high school credentials may mean that there simply will not be enough applicants to fully utilize the scholarship dollars.

Finally, the community foundation team is happy to help you with the strategy for getting the word out. Many times, would-be applicants simply are not aware of all the options for scholarships. If scholarship funds don’t adequately promote the opportunities, it may be hard to capture students’ attention as they wade through the vast amount of information available about paying for college. 

The impact can be measured in dollars. The Lapeer County Community Foundation awarded over $113,000 in scholarships to local students pursuing post-secondary studies. Whether you are a high school graduate, currently in college, or a non-traditional female student overcoming life’s challenge, these awards go a long way to make the impossible possible – and providing the means to achieve your goals. More importantly, it can be measured in people. Scholarship awards were presented to 81 students across Lapeer County. These students represent diversity in demographics, socio-economic backgrounds, and fields of study. 

This year the Foundation hosted our first scholarship reception. This event provided an opportunity for donors, scholarship committee members, and the recipients to meet. This was a time where words of appreciation could be expressed, future plans shared, and families could gather to celebrate the accomplishments of their students.

The LCCF team is honored to serve as a resource and sounding board as you build your charitable plans and pursue your philanthropic objectives for making a difference in the community. This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. Please consult your tax or legal advisor to learn how this information might apply to your own situation.