July 2017 enewsletter header

Table of contents:

Colorado's Hurricane Recovery Fund
Announcing the first class of Water Literate Leaders
Colorado Nonprofit Association Fall Conference
Grant opportunity: First Western Trust
IRA rollovers make the most of required distributions 

Matching challenge increased to $3 million 

We at the Community Foundation of Northern Colorado proudly announce that Bohemian Foundation will match – dollar-for-dollar up to $3 million – gifts made to Colorado's Hurricane Recovery Fund. This fund, established by the Community Foundation of Northern Colorado, will help nonprofit organizations address intermediate and long-term recovery needs in Texas, Louisiana, Florida, U.S. Territories, and other areas affected by hurricanes.

Donations made to the fund by midnight on Nov. 1, 2017 are eligible for the match. This campaign constitutes an expansion of the NoCo Foundation Hurricane Harvey Recovery Fund which matched only gifts made by Larimer and Weld County residents. With the growing impact of the 2017 hurricane season, Bohemian Foundation expanded the match from $2 million to $3 million and opened the campaign to all Colorado residents, businesses and organizations, including private foundations

To date, over 500 separate donations have been made, including from groups that have held fundraisers.  All these donations will be matched.

The best way to give is to donate online.

Checks may be made payable to the Community Foundation of Northern Colorado, memo Hurricane Recovery, and sent to 4745 Wheaton Drive, Fort Collins, CO 80525. 

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Announcing the First Class of Water Literate Leaders 

We are very pleased and excited to announce the first class of Water Literate Leaders! The selection was challenging as many well-qualified individuals applied for this inaugural opportunity. The resulting class, listed below, is represented by geographic and sector diversity.

Water is emerging as one of the most complex and controversial subjects to be addressed in the 21st century. We are thankful that these individuals are willing to give of their time, their energy, and their leadership to help our communities make educated, sound decisions about water.

Colorado Nonprofit Association Fall Conference

The Colorado Nonprofit Association’s Fall Conference (Nonprofit of Influence, October 30-31) is a unique opportunity for nonprofit professionals from around the state to expand their influence, knowledge, and network. 

New for 2017: Through the help of a donor, the Colorado Nonprofit Association is making available 20 registration scholarships to nonprofits from outside the Denver Metro area. 

Registration is open!

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Grant Opportunity – First Western Trust’s #WealthisAbout

First Western Trust is looking for nonprofit professionals to nominate their organizations for its $7,000 giveaway. The nonprofit must be focused on at least one of First Western Trust’s philanthropic pillars:

Economic Development: Organizations dedicated to entrepreneurship and to helping individuals build skills for the workplace. 

The Arts: Organizations that introduce children and adults to a broader cultural experience as a way to inspire new ideas and new ways of thinking. 

Women & Girls: Organizations dedicated to self-sufficiency, education, and making an impact on the lives of women and girls.

Once nonprofits have submitted their nominations, community members will be able to vote once each day for their favorite nonprofit over a two-week period. The three organizations with the most votes will then be evaluated by the First Western Trust Grants Committee, which will select the winner. The winner will be announced on November 3, 2017 on FWT's Facebook page.

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IRA rollovers make the most of required distributions

Most people are aware of the tax benefits of an individual retirement account (IRA). You can put money away for retirement while avoiding some of the taxes now or later. The law requires individuals who are 70½ or older to take a minimum distribution from their IRA, whether they need the income or not. An alternative for people in this age range is to donate the distribution to charity, avoid income tax, and make a difference for local causes and organizations. 

If a person wishes to donate a portion of their IRA to charity without taking advantage of the charitable rollover law, he or she would have to take a distribution, pay current-year income taxes, gift the money to the charity, and then claim the tax-deductible portion of the gift on their tax return. However, up to $100,000 can be transferred from your IRA directly to a charity without having to pay current-year income taxes on that distribution. The rollover amount isn't claimed as a charitable deduction, and the action is considered a “non-taxable event.”  

There are limitations on the IRA charitable rollover to consider. First, the provision does not apply until age 70½. Those that are younger can take a distribution, pay the tax, make a gift as described above, and then claim a tax deduction, as described above. The upside is that the gift will receive a charitable deduction that partially offsets the tax on the distribution. Second, IRA rollovers cannot be made into a Donor Advised fund. They can be made into a Designated Field of Interest, Scholarship, or Unrestricted fund at The Community Foundation, or given directly to a charity. 

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