Greenwood County Community Foundation's Power of Philanthropy

The Power of Philanthropy

The hub of philanthropy in Greenwood county

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Like your everyday actions, your charitable gifts have an IMPACT on others.

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Our History The Greenwood County Community Foundation (GCCF) was created by a generous gift from an anonymous donor.

This philanthropist believed that Greenwood County had an opportunity to increase charitable giving to all worthy causes and institutions, while raising awareness of each one’s needs. Initial start-up funding of approximately $2.5 million was provided, as well as a dollar-for-dollar match of future donations of up to $3.0 million. The Foundation was chartered and received its nonprofit status approval from the IRS in 2009. In 2010, the first Board of Directors was organized and began its planning. In November 2011, GCCF began operations under the leadership of its first Executive Director, Mark Kasper, and the Foundation made its first grants.

The volunteer Board of Directors was selected to oversee all aspects of the Foundation and its operations.

The founding Board included the following outstanding community leaders: Joe Chandler, Linda Dolny, Dru James, Darrell Johnson, Sid Johnston, Sam Leaman, Jukie Leary, Peter Manning, Mamie Nicholson and (first Board chair) Sam Tolbert.

The Greenwood County Community Foundation

works collaboratively with all organizations that are interested in improving the quality of life in Greenwood County. The Foundation provides grants and funding to many local charitable organizations. Large national foundations are inclined to provide grants to local causes through community foundations, and GCCF can provide that conduit. The Greenwood County Community Foundation does not conduct annual campaigns, but asks people to give to local worthy causes and institution.

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A Sense of Community

Greenwood County is our home.

It is our beloved community.

It has shaped us and made us who we are, and has provided an income for us to live. It has helped us to grow strong children who have gone on to touch lives throughout the world, and has enriched us with cultural and educational opportunities. It has nurtured us when we have been sick or lonely. It has shared with us its natural beauty and bountiful harvest. It is our extended family. How can we adequately express ourgratitude?

Perhaps the best way is for us to give back — to those in need (the hungry, the homeless) or to areas (arts and culture, parks and recreation) which help to enrich the lives of all our residents. Strategic, wellplanned giving, now or through

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your estate plan, may be the most impactful solution for you. You can impact Greenwood County’s future through your generosity.

Giving now or giving later? Most of us have experienced the joys of giving during our lives.

Now there is the opportunity in Greenwood County to establish an enduring gift. One that forever supports the causes you care about. One that tells the world what your life meant and stood for. One that keeps on giving long after your lifetime.

We can help you create a personal legacy that will continue to give for generations

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What is a Fund?

Think of an endowed donor-advised fund as your “private foundation.” When the Greenwood County Community Foundation receives your gift, we establish a separate and distinct Fund — the vehicle through which you give and that preserves your philanthropy and family name — to fulfill your stated charitable purpose. The assets are invested and grants are made from your Fund. Grants name your fund as the source, and so your philanthropy endures.

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Types of Funds The thing to remember is that at the Greenwood County Community Foundation, we are here to provide custom philanthropic planning — and, as such, your named Fund can be endowed or non-endowed.

It can be designated for a particular organization or multiple nonprofits, and it need not be only for local organizations. It can be focused on one particular “field of interest” or unrestricted for local community needs.

Unrestricted Addresses current and future needs of the community.

Donor Advised Operates like your own private foundation.

Field of Interest

Designated Supports your favorite nonprofits forever.

Supports key issues close to your heart.

Agency Endowments Provides permanent income for nonprofits.

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Scholarships Invests in deserving students.

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Donor Advised Funds share two key characteristics. First, they are irrevocable gifts to the Community Foundation as a public charity. Second, you explicitly retain the ability to advise the Foundation concerning distribution from the Fund’s income and, in some cases, from the Fund’s principal.

A Donor Advised Fund is established at the Greenwood County Community Foundation with a minimum gift. Once established, you, or someone you designate, may make grant recommendations from the Fund. This Fund is a flexible, personalized way to support nonprofits in Greenwood, elsewhere in the U.S., or possibly even globally. The Greenwood County Community Foundation measures the results of the grants, reports back to you and assures all legal compliance.

A Donor Advised Fund operates like your own private foundation.

Most Donor Advised Funds are created during individuals’ lifetimes — particularly in years when they are likely to experience high tax consequences. Then the donors (or those they designate) may recommend grants in later years to support the organizations and causes for which they care most deeply.

Field of Interest Funds

are a way to provide support to organizations that work on particular issues that you specify (i.e. hunger, arts, early childhood education, etc.). Once you determine the issue you want to support, the Greenwood County Community Foundation staff identifies grant recipients.

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An Interest in Arts Soon after its formation, the Greenwood County Community Foundation attained the honor and privilege of having been named in the will of a local donor.

This individual’s life had been greatly enriched by having been both a performer and an audience member. Working with their attorney and Foundation staff, the anonymous donor established an estate plan to create an endowed Field of Interest Fund to benefit local and regional performing arts organizations. The Foundation will make decisions related to which specific local arts organizations will receive grants from the Fund each year forever.

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Types of Funds Designated Funds

are permanently endowed Funds that enable you to support your favorite nonprofits forever. The organizations you choose receive annual gifts in the name of your Fund.

Designated Compassion Year in and year out, a businessman had made generous contributions to his favorite charity — to help those in great need: those who were hungry and homeless and unemployed. When he was selling his business he knew it was an appropriate occasion to do something significant for this nonprofit, and he wanted his gift to be sustained in meeting community need. He created a Designated Fund at his community foundation and specified this organization to receive annual distributions in his name forever.

Unrestricted Funds

allow you to address both the current and future needs of Greenwood County. Created by visionary philanthropists who care about our community beyond their own lifetimes, these Funds allow the Greenwood County Community Foundation to identify and address new needs as they emerge. Unrestricted Fundholders understand that what is important to our community may be different tomorrow than it is today. Partnering with the Foundation, grants will be awarded in your name to nonprofits that address timely solutions, today and tomorrow.

An Unrestricted Future The wise individual who orchestrated the initial gift to start the work of the Greenwood County Community Foundation secured an unrestricted gift.

That individual could have suggested any particular area of mission or could have specified any of many nonprofit organizations in our local area.

But this person chose not to do that. Instead, by ensuring an unrestricted gift, the individual was in essence saying to the Foundation, “I know the

needs of our community today, but I have no idea what the area’s greatest needs might be in 20 or 30 years. And so we are trusting the Greenwood County Community Foundation to know and address those needs, on our behalf, far into the future. That way we are making a smart investment in future generations who will live here.”

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Agency Endowments are a simple

and efficient way to build a permanent source of income for nonprofit organizations. Our experienced staff can help develop planned giving programs and assist with investment management and administrative details. The Foundation’s economies of scale provide the benefits of a diverse investment portfolio and low investment fees that typically come only with very large funds. Distributions may be received annually or remain to grow over time.

Scholarships

allow you to invest in your community’s future and show deserving students — from preschool to postgraduate — that you care. Set up a Scholarship Fund in your name, in the name of your family or business, or in honor of any person or organization you choose. It can be for general education or specific fields of study. The Foundation handles all the administrative details, awards scholarships and updates you on the progress of recipients over the years.

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Envisioning a Future

for the Arts in Uptown Greenwood Starting out as the Greenwood Arts Council in 1997 in an office space in the then newly-renovated Waller Avenue block, Executive Director Anne Craig was able to visualize something much bigger that would positively impact the community. She was an integral part developing the Greenwood Arts Triangle project, which included providing a new home for the Arts Council in the former Federal Building, plus major renovations to the Museum and the Greenwood Community Theatre “The Emerald Triangle project was a dream come true, a moment in history where the stars aligned and aspirations became reality,” said Craig. “Uptown Greenwood was ready for revitalization in 2000 and the then-vacant Federal Building was the obvious place to start.”

With generous funding and leadership from the Arts Council, a plan was formed for the renovation of all three buildings.

“The beautiful, repurposed Federal Building opened in February 2006. Since that happy day, the Arts Center has served 225,000 youth, adults, & visitors to our community,” beamed Craig.

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But Anne’s vision didn’t stop with funding the immediate needs of the Arts Center. She also developed a long-term funding plan for the Arts Center through the creation of an endowed agency fund with the Greenwood County Community Foundation.

“The Arts Center was so fortunate to receive a generous bequest from the estate of Virginia Self which allowed us to establish an endowment held by the Community Foundation. Since that time, we have made additional gifts and the fund has grown substantially.

The funds generated by the endowment help underwrite many of the outreach programs we produce each year. Looking to the future, we will use the endowment as a pillar of stability during times of low revenue or unexpected expenses. We always ask patrons to consider a gift to continue bringing the arts to life in Greenwood.”

An agency fund with the Greenwood County Community Foundation may be the answer to the long-term funding needs of area nonprofit organizations.

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d Everyone can be a

philanthropist.

The GCCF can help you create a unique giving plan.

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A Gift of Music The Barbara Holbrook Parham Music Trust When Dr. Jack Parham built his family home in the early 1970s, among the many features it possessed, one stood out: a spacious den accessed directly through the welcoming front entrance, but sited down several steps. This lower elevation, combined with comfortable seating and rich, warm wood throughout provided a sense of intimacy for the many guests who were invited to the Parham’s home to enjoy the space as it was intended – as a listening room for private classical concerts.

Dr. Parham’s wife, Barbara, had a passion for music that she shared with her family and friends, which was the catalyst for the design of this special space in their home.

So many people had been touched by her love of music that Dr. Parham wanted to ensure that a legacy of live music would be created for Greenwood County citizens in her honor. Dr. Parham worked with the Community Foundation to create an endowed fund that would be utilized to underwrite musical performances in the community now, and for generations to come.

The Barbara Holbrook Parham Music Trust was the result of Dr. Parham’s vision and has already funded a number of programs in Greenwood. Sadly, Mrs. Parham passed away in 2016, but her rich musical legacy lives on through this thoughtful gift. The Greenwood County Community Foundation is proud to hold this fund and to be a part of Dr. Parham’s charitable giving mission.

Funds can be created to match every philanthropic focus, and when they are endowed, those funds will continue to give in perpetuity.

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What to Give

Major Gifts and Estate Plans

require thoughtful choices. We recommend that you obtain professional advice from your attorney, accountant, financial planner or other trusted advisor. Together, consider all your assets as you plan.

In addition to cash or a check, a variety of alternative assets may be used to create a Fund.

Stocks

that have increased in value make an ideal gift.

You avoid capital gains tax and your marketable securities are easily transferred at present- day value.

Retirement Plans

are often reduced to fractions of their value after taxes are paid. You can partner with the Greenwood County Community Foundation as the beneficiary of an Individual Retirement Account, maximize your IRA’s value and reduce exposure to both estate and income taxes.

Life Insurance

can provide an easy option for your philanthropic legacy. Simply add the Foundation as a beneficiary, or make it the sole beneficiary of a policy you no longer need.

Real Estate

can be given to the Greenwood County Community Foundation to bypass the tax on highly appreciated property, and to divest you of an asset that you no longer need or wish to maintain.

Tangible Property

including artwork, antiques, jewelry or other items can be used for your philanthropic gift.

Business Ownership can be transferred to the Foundation to establish your Fund. Transfers such as this offer great tax benefits to you and your family.

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An example from the Greater Everett (WA) Community Foundation: a $50,000 gift was made on December 31, 1985 to establish an endowment fund. Over the next 20 years, that fund grew from $50,000 to $162,701 AND gave out $111,540 in grants during that same period. That is the power of endowment!

The Power of Endowment

Your Fund

can be a permanent Fund (endowed). A percentage of your Fund balance is available for granting each year. Any earnings, after grants and fees, are added to the Fund so that it grows over time.

This allows the Fund to build in perpetuity, so that the amount available for granting also grows in proportion to the Fund. A Fund may also be established where the entire amount of the Fund can be available for grant-making (non-endowed) now or later. In either case, you can add to your Fund at any time.

Much of the strength of the Community Foundation lies in the permanence of our Funds. The Foundation will be here forever to respond to the changing needs of Greenwood County. Over time, a gift of endowment can improve lives and communities in ways that we can only imagine.

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Ten Reasons

people choose to give through community foundations:

Personal Legacies

We aid you in building endowment funds that benefit the community forever and help create personal legacies.

Asset Guidance Our funds help you invest in the causes you care most about.

Community Leader

Partnerships

We convene with multiple agencies and coordinate resources to help you create a positive change.

Our professional advisors can help you create highly effective approaches to charitable giving.

Highly Personalized We tailor our services to meet your individual charitable and financial interests.

Tax Advantage We help you achieve the maximum tax benefits for gifts under federal law.

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Professional Staff We have broad expertise regarding community issues and needs.

More Ways to Give We accept a wide variety of assets & can help facilitate even the most complex forms of giving.

Local Organization We have deep roots in the community

Maximize Impact

We help you multiply the impact of your gift dollars by pooling them with other gifts and grants.

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110 Phoenix Street Greenwood, SC (864) 223-1524

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www.GreenwoodCF.org Info@GreenwoodCF.org

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