Executive Director of Elk County Community Foundation speaks to Johnsonburg Rotary

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Executive Director of Elk County Community Foundation speaks to Johnsonburg Rotary

On Monday, February 17th, the Johnsonburg Rotary’s program chairperson, Dr. Pamela Allegretto-Diiulio, introduced Paula Fritz Eddy, the Executive
Director of the Elk County Community Foundation (ECCF).  Paula updated Rotarians on the status of the Alva K. Gregory Scholarship. This fund has
provided in the last 15 years, scholarships to 29 different students from Johnsonburg Area High School and Elk County Catholic High School.  Over
$20,500 has been given out in scholarships.
In the past twenty years, ECCF has given over $650,000 in the Elk County area in grants and scholarships.  They oversee 205 funds of which 110 are
scholarship funds.  Mrs. Eddy wrapped it up with “we are about connecting people who care with causes that matter.”  She distributed the annual report to Rotarians, which is testimony to the many philanthropists and charitable acts that make the Foundation a vital part of the community in providing assistance to students and non-profitable organizations.

Winners of WWC Membership Drive Award Grants to St. Leo School

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Winners of  WWC Membership Drive Award Grants to St. Leo School

St. Marys, PA, January 28, 2020:  Women Who Care, a project of the Elk County Community Foundation, held its annual membership drive in December. All women who renewed their membership or became a new member by December 27 were eligible to win the opportunity to give their favorite charity a special $500 grant. The lucky winners this year were Molly Cerrone and Irene Smith. Both Molly and Irene chose St. Leo School as the recipient of their grant money. Women Who Care invites all area women to join their caring group of 246 area women. This women’s philanthropic organization continues to grow and make an impact throughout our communities.  Women interested in joining this giving circle of Women Who Care about their community can pay their membership dues until June 1 and have voting privileges for the fall granting meeting. For more information visit their website at www.elkcountyfoundation.org or call the Community Foundation at 834-2125.

Pictured left to right: First Grade Students, Luca Aiello, Haddie Beimel, Molly Cerrone, Lynne Kucenski, St. Leo School Principal, Irene Smith, and  First Grade Students Lynn Julia Gilmore, and Nicholas Tutton.

Community Foundation celebrates 20th anniversary in 2020

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Community Foundation celebrates 20th anniversary in 2020

ECCF: 20 Years: celebrating our past ~ inspiring our future

This is the 1st in a series of articles on the Elk County Community Foundation (ECCF) during its 20th anniversary year, highlighting its history and impact in the community

St. Marys, PA, January 28, 2020:  The Elk County Community Foundation (ECCF) is pleased to announce that the year 2020 marks the 20th anniversary of their non-profit organization. ECCF is a public grantmaking organization that partners with individuals, organizations and businesses to support innovative solutions and programs that address the pressing needs of our area.

Though you may not be very familiar with your local community foundation, you have certainly felt their impact. That’s because over 20 years the Elk County Community Foundation has invested over 5 million dollars across a wide range of issues and projects throughout Elk County. Included in this, are over $3.6 million in grants for social services, health and wellness, community development, and education projects, and $1.78 million in scholarships.

ECCF has become a vibrant community foundation through generous charitable giving by ordinary people who have set up funds to support the causes they care about. The Foundation now administers 24 donor advised funds, 2 unrestricted funds, 21 agency endowment funds, 3 designated funds, and 102 scholarship funds with assets totaling $13.5 million.

The impact of dollars granted to community organizations through the foundation has certainly added up over the years to a substantial investment. But more importantly, the social impact to better the lives of area residents is beyond measurement, reaching far into the future.

“During this anniversary year, we look forward to sharing stories of groups and individuals who have benefited from grants and scholarships through the years, and we celebrate and thank the many donors who have worked to make lives better in Elk County and made our success possible”, stated Paula Fritz Eddy, Executive Director. ECCF is a non-profit organization that strives to strengthen our region through development, stewardship and grant making as it works with donors to achieve their philanthropic goals. For more information, visit their website at www.elkcountyfoundation.org or call the office at 834-2125.

Esch named new president of Community Foundation parent company

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Esch named new president of Community Foundation parent company

At the December meeting of the Community Foundation of the Northern Alleghenies (CFNA), Bob Esch, on left, was named the new president of the board of directors, taking over the reins from past president, Bill Conrad. CFNA is the parent company of the Elk County Community Foundation and the McKean County Community Foundation. The common mission of the two foundations is to enhance the quality of life in the local area as they strengthen their region through development, stewardship, and grant making. With a shared vision to inspire philanthropy and strengthen their unique communities, these affiliate foundations are making an impact in the Northern Allegheny region. For more information on donor opportunities, scholarships, and grants visit their websites at www.elkcountyfoundation.org or www.mckeancountyfoundation.org.

Community Foundation shares tax strategies for donors

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ECCF shares tax strategies for donors

St. Marys, PA, January 2, 2020: The Elk County Community Foundation (ECCF) is inspired by working with donors to help them create charitable strategies and legacy gifts that benefit both the donors and their community. Donors can take advantage of various tax strategies to make the most of their charitable giving.

ECCF has resources to help donors do the most with their means, at whatever level they are comfortable sharing. In addition to making a difference in the community, charitable giving can have tax benefits that are well worth exploring.

One strategy is to celebrate your 70 ½ birthday in a special way. At this age you must begin taking Required Minimum Distributions from your IRA and paying taxes on that additional income. Fortunately, the IRS allows generous donors to direct all or a portion of their distribution (up to $100,000) to entities like the Elk County Community Foundation. Any gift made directly to the Foundation is excluded from your taxable income.

Another strategy is called “Bunching”.  In today’s tax environment, your charitable gifts may or may not be deductible on your tax return, depending on your ability to itemize in a given year. Charitable donations are deductible only if you itemize, which may be a less likely scenario for many taxpayers given today’s higher standard deduction. In 2020, the standard deduction will be $12,400 for individuals and $24,800 for married couples.

Taxpayers can benefit from the new tax law and get back some of the tax advantages of their charitable contributions by using Bunching. Essentially, this means combining perhaps several years’ worth of donations into a single tax year so that – along with your other deductions – you exceed the standard deduction. Then you’d take the standard deduction in the interim years.

Of course, bunching multiple contributions into a single year can feel daunting if you’re not sure how much you want to give and to whom. So to build some flexibility into your giving plan, you may wish to set up a donor-advised fund account at a community foundation, which allows you to donate a lump sum in the current tax year, invest the funds for future growth, and parcel out the money to qualified charities over time. The money can continue to appreciate once invested in a donor-advised fund account, which means the potential for even greater giving down the road.

ECCF is a nonprofit organization that manages endowed funds established by donors to benefit area nonprofit organizations. Donor gifts are tax deductible to the full extent allowed by law. For more information about donations, grant requests or other opportunities at the Foundation please contact Elk County Community Foundation at 814-834-2125.