Legacy Giving FALL 2016
COMMUNITY FOUNDATION EXPANDS THE MERVEAUX FAMILY LEGACY The desire to be remembered for what they have contributed to the world often leads individuals to ponder what their legacy will be after they’re gone. Often when we consider our legacy, we think about a life well-lived and what we will leave for future generations. For those who wish to make charitable giving a part of their legacy, community foundations are able to play a unique role. With multiple investment options, as well as deep community knowledge, these community institutions are able to utilize gifts to make the biggest impact, often forever. When Nina Merveaux approached the Greater Cedar Rapids Community Foundation in 1993, her intent was to leave a charitable legacy that could serve the people of Linn Country for years to come. A lifelong resident of Cedar Rapids, Nina gave to many great causes throughout her lifetime. The Nina E. and Victor D. Merveaux Endowed Fund for Historic Preservation and the Nina E. Merveaux Donor-Advised Fund have supported many nonprofit projects since the funds were established. When she was in her mid-80s, Nina, in consultation with her professional advisor, created a charitable remainder trust naming the Greater Cedar Rapids Community Foundation as the beneficiary of the remainder interest. By giving through a charitable remainder trust, Nina was able to receive income from the fund during her lifetime, with the remainder interest going to the Community
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Charitable IRA Rollovers
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Foundation at her death. Nina’s instructions specified for the remainder to be used to establish a fund to benefit children of low-income families, create scholarships, benefit the Cedar Rapids Zoo, benefit health and healthrelated programs, and help support the operations of the Community Foundation. Nina Merveaux passed away on May 29, 2003 at the age of 96. The community and causes that meant so much to her will benefit from her planning and generosity forever. Nina’s legacy began with a gift of $80,000 and the assurance that the Community Foundation would work to preserve Nina and Victor’s legacy for Nina Merveaux years to come. To date, the funds have provided $127,000 in grants— 150% of the value of the original gift—while the principal remains greater than the original gift. “Nina Merveaux’s philanthropy is an example of the power of endowed funds to create a legacy that will last forever,” says Greater Cedar Rapids Community Foundation
12th Annual Luncheon
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List of New Members
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