a tax-exempt, nonprofit, publicly supported, philanthropic institution…

for the broad-based charitable benefit of the residents of a defined geographic area.

What Is a Community Foundation?

By building a community based endowment.

Like a permanent fund, essentially a savings account, where you only spend the interest.

Distribute a percentage of the assets after gains (the interest) to make grants to fund activities in the community.

Allocate a small percentage of earnings to cover the foundation’s administrative costs.

Reinvest some gains back into the fund so that it will grow.

The goal is for the endowed funds to become more sizeable and significant over time!

How does a Community Foundation work to improve a community?

6+ TIMES

Assumes 4.5% annual payout and 8.5% rate of return

Initial gift has been invested:

1 TIME 2 TIMES

YEAR 50

$66,000 in cumulative grants and

services$57,000 balance

YEAR 1

Establish a Named

Fund

$10,000 gift

Source: © 2008 Midwest Community Foundations’ Ventures

One Gift, Many Generations Source: © 2008 Midwest Community Foundations’ Ventures

YEAR 25

$19,000 in cumulative grants and

services$23,000 balance

YEAR 15

$9,000 in

cumulative grants and

services$16,000 balance

MISSION OF THE SITKA LEGACY FUND …is to support our community’s resiliency and

self-reliance, now and in the future. We are committed to keeping our community a vital, progressive, and healthy place where people can live, work, raise families, and retire by:

working together to solve problems,

nurturing our valued historical and

environmental heritages,

celebrating life through spiritual, artistic,

athletic, and cultural expression,

promoting education and economic

prosperity

HISTORY OF SITKA EFFORTS

For years, Sitkans have been discussing the idea of starting a “community foundation.”

In 2012 Sitkans met over several months to explore this topic in a series of public meetings.

After year of study and discussion the working group voted and applied for a Community Asset Building Initiative “CABI” grant from the Alaska Community Foundation.

Early in 2013 The Greater Sitka Legacy Fund steering committee was awarded the CABI grant to create a community foundation affiliate in Sitka.

GREATER SITKA LEGACY FUND GOALS:

As a CABI we have the opportunity to receive a matching grant if we meet these GOALS for 2013 and 2014:

Raise $50,000 in from FOUNDING MEMBERS of the Sitka Fund in 2013, and

Raise another $50,000 from FOUNDING MEMBERS of the Sitka Fund in 2014.

RESULT: $200,000 in endowment fund of Greater Sitka Legacy Fund by end of 2014!

HOW CAN YOU HELP?

Become a Founding Member by giving a donation in 2013 or 2014

Recommend someone you respect for the Sitka ADVISORY BOARD of the Sitka Legacy Fund

Help with ongoing growth of the Sitka Legacy Fund through sharing information about legacy giving (bequests, donations of property, grants, and individual gifts),

IMPORTANT INFORMATION The Greater Sitka Legacy Fund is committed to

these ideals:

Will emphasize we do not want Sitkans’ to reduce annual giving to local charities and projects;

Will mostly seek direct gifts from individuals and organizations, and create an opportunity for giving by bequests;

Intends to promote an even greater spirit of philanthropy—giving—within Sitka; and

Intends to focus on growth of local resources for the FUTURE—someday the Sitka Legacy Fund will be self-sustaining and able to supply a major portion of local needs—actually supporting other non-profits and locally important projects.

SITKA will increasingly become a retirement community; are we ready?

From 2010 to 2030, Sitka expects no overall population growth.

• In 2010, seniors age 65+ were 11 % of our community.

• In 2020, those over age 65 will be 17% of Sitka.

• In 2030, Sitka will be home to 23% of its population in the age 65 plus bracket.

Generational transfer of wealth is happening in Sitka and could be accelerating in near future. The Greater

Sitka Legacy Fund offers a financially sound option for you to leave your legacy in our community.

What does Greater Sitka Legacy Fund get from the Alaska Community

Foundation?

› All IRS compliance performed by ACF- audit, 990, and gift acceptance

› Lower investment costs, less risk, and potentially higher returns

› FIMS software for accounting, donor data tracking, and fund reporting and statements

› Communications and marketing support including online giving through customized Affiliate webpages hosted by ACF

› Automatic eligibility for Pick. Click. Give.

Economies of Scale

Services

› ACF staff expertise› Ability to accept a variety of gifts› Grant and gift processing› Gift acknowledgement letters and receipts› Professional investment oversight› Web-based grant application system› Legislative monitoring, updates and advocacy› Educational opportunities

› Credibility with donors: endowed funds will ALWAYS be designated for the community

›With national and statewide funders: ACF and Affiliates comply with the National Standards

›Statewide representative board

› Statewide brand/logo with Affiliate identity clearly delineated: promotes local credibility while saving cost of statewide marketing

Credibility

:www.alaskacf.org or

www.greatersitkalegacyfund.org

Thank you!