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FUNDRAISING Connecting Industr y with Nonprof its

COLLABORATION NEEDED Resnik says First Place-Phoenix represents public, private, philanthropic and nonprofit collaboration at its finest. The facility will have a mix of uses, consisting of 55 apartments, a Transition Academy and a Global Leadership Institute. When Resnik began to pursue funding for First Place-Phoenix, she had to create a comprehensive capital campaign that would pay for both the real estate project aspect of the facility, along with its programs and staff. This meant Resnik had to form many different relationships with community members to help make First Place-Phoenix a reality. Organizers established a $21.3 million capital campaign, knowing a significant amount would come from the philanthropic sector, Resnik says. First Place-Phoenix pursued contributions from philanthropists, benefits from the New Markets Tax Credit and a private construction loan, she says. Resnik recognized that contributions from all sectors were needed to make this project possible, which could launch a trend for a new type of housing. Through First Place-Phoenix’s three components — housing, the Transition Academy and the Global Leadership Institute — the project was able to gather more than 100 collaborating partners, Resnik says. Some partners include SARRC, the Arizona Department of Housing and the Foundation for Senior Living. 42 | AzBusiness Angels

Robert Erven Brown

Denise Resnik

In order to make this project a reality, and get it funded, Resnik says she built a strong, intelligent team of leaders to help her make it happen. It also helped that she had proof of her concept for the Transition Academy to help bring in funding for First Place-Phoenix. For the last three years, the First Place Transition Academy has been working to help those with autism gain skills towards an independent lifestyle, even without the First PlacePhoenix facility being completed, Resnik says. For making major nonprofit projects a reality, Resnik says to “dream big, and make sure you have the details to back-up the pursuit of your dreams.” GET SMART WITH LEGALITIES Pursuing funding for a charitable cause can be a very complex world, mainly due to government regulations that come with the tax incentives for charities and nonprofits. There are three main avenues of funding for a nonprofit or charitable cause, says Robert Erven Brown, shareholder at Gallagher & Kennedy • Tax credits • Funds from private donors • Grants

Brown says one of the most popular routes is with tax credits, and in Arizona the “hottest topic” for tax credits is the Credit for Donations made to Qualifying Charitable Organizations. This tax credit used to be called the Working Poor Tax Credit before its name changed when the credit was expanded to include foster care organizations. Taxpayers filing as “single” can claim a maximum of $500 and “married filing jointly” taxpayers may claim a maximum of $1,000 through this tax credit, according to Arizona’s Department of Revenue. Each dollar donated through this tax credit — up to the maximum — knocks a dollar off what they’d owe to the state. For qualifying nonprofits, this tax credit has been a very popular way to raise funds, Brown says. To qualify, organizations have to be a 501(c)(3) nonprofit, provide services that meet basic needs, assist low-income residents and spend at least 50 percent of its budget to provide qualified services to residents and more. Often, people respond very favorably to donation campaigns for funds that are earmarked to go toward certain service, compared with donations towards the general operations of the nonprofit, Brown says. It could be important to communicate exactly what the funds will go towards, but that can be easy when a nonprofit is raising money for a specific, major project.

Profile for AZ Big Media

AzBusiness Angels January-June 2018  

The mission of Az Business Angels is to help create an alliance that will give new hope to nonprofits and inspire businesses to make it thei...

AzBusiness Angels January-June 2018  

The mission of Az Business Angels is to help create an alliance that will give new hope to nonprofits and inspire businesses to make it thei...