November 2016

20th Anniversary Luncheon

The Community Foundation of the Dan River Region highlighted "20 Years of Impact" at its Anniversary Luncheon held Thursday, November 3, 2016 at the Institute for Advanced Learning and Research.
 
Founder Whitt Clement (pictured below) returned to share a few words of reflection on convening a group of regional leaders to begin the first community foundation serving the Danville area.
 
Special recognitions were also given to Bob Wiles, the Foundation's first director; founding Board members; as well as all past presidents of The Community Foundation.

Some highlights of The Community Foundation's impact since its formation in 1996 include:  
 
1996 -Incorporated as the DPC Community Foundation
2004 -Name changed to The Community Foundation of the Dan River Region
2004 -Agreed to serve as fiscal agent for the Veterans Memorial
2007 - First met National Standards for Community Foundations accreditation
2015 -Started the RiverBank Fund initiative
2016 -Partnered with Pittsylvania County to receive donations on behalf of the new Animal Shelter

Since 1996
-The Community Foundation has received $11.5 million in bequests and awarded $18.3 million in grants and $2.1 million in scholarships to 952 students!

The Foundation also unveiled a new logo (shown at the top of the newsletter) and featured a brief video of testimonials by donors, grant recipients and scholarship students.
 
 
 



For those aged 70½ or older, it's once again possible to make tax-favored charitable gifts from traditional and Roth IRA accounts.

On December 18th, 2015 legislation passed that retroactively extends the charitable IRA rollover for 2016 and makes this provision permanent. Up to $100,000 can be transferred directly from traditional or Roth IRAs to one or more qualified charities such as The Community Foundation
  free from federal income tax each year. Amounts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.

A donor may direct The Community Foundation to use an IRA withdrawal gift for maximum community benefit. The foundation currently has a 1:1 gift matching opportunity available for donors supporting Youth in Philanthropy or the Community Enrichment Fund.

Alternatively, income tax-free charitable rollovers may be directed to a new or an existing named Designated Fund or Field of Interest Fund. (Note that gifts made to a donor advised fund do not qualify for special tax treatment.)

To maximize this opportunity, it's important not to withdraw funds prior to making your gift. Instead have the gift amount distributed directly from an IRA to your chosen qualified charity. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA.

Contact us, or your IRA administrator or tax advisor for more information.

Pittsylvania County Animal Shelter Fund
 
Animal lovers who wish to support the Pittsylvania County Animal Shelter Fund can send donations to The Community Foundation, 541 Loyal Street, Danville VA 24541.  
Donors may also be given special naming opportunities throughout the project.

For more information click  here.   
 
 
 
Fund Spotlight!

 
Veterans Memorial Fund 
 
A committee of the Korean Happy Warriors, a local veterans' organization, convened in the summer of 2004 for the purpose of erecting a Korean War Memorial. The committee secured the use of a one-acre plot in Dan Daniel Memorial Park and realized the size could accommodate a much larger vision, one of a memorial to local veterans of all wars and teach a history lesson, lest we forget.

The memorial features a black granite wall inscribed with the names of all local men who died in all of our nation's conflicts from the Revolutionary War to our current War on Terrorism. A centerpiece of the Veterans Memorial is the circular brick walkway engraved with names of veterans who served, or are serving, in war and peace. There are over 6,000 bricks that honor veterans of all branches of service, not only from the local area but also from any location, any war, or any time period.   
    
In honor of Veterans Day, please consider making a donation in honor or in memory of a loved one.



Reminder!

 
~Final Grant Reports are due December 14th!  These must be submitted in a timely manner in order to remain eligible for future funding.  Please contact our office with any questions. 
 
~Our scholarship cycle opens on January 1st!  Don't wait, start you application early.  The deadline to apply is Tuesday, February 28th.   
 
   

  

The Community Foundation
 
541 Loyal Street | Danville, VA 24541 | www.cfdrr.org | info@cfdrr.org
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