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.

ECCF open grant applications are due January 15

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Elk County Community Foundation open grant applications are due January 15

St. Marys, PA, January 4, 2020:  The Elk County Community Foundation (ECCF) is accepting grant applications through January 15 from 501c3 organizations who wish to apply for funding from The Harrison and Muriel Dauer Stackpole Family Fund, the Elk County Society for Special Services Fund, or the Elk County Development Fund and Fund of the Future. 

The Harrison and Muriel Dauer Stackpole Family Fund is an open grant that supports worthy projects that provide services for the residents of our communities. Their goal is to ensure that the Fund continues the good works that both Mr. & Mrs. Stackpole had done in our community during their lifetime and to support the philanthropic causes that were important to both of them

The Elk County Society for Special Services fund is designated for any nonprofit agency which provides services for the purposes of providing Pre-K education. The application should improve programs that are already established or develop new programs. This fund will not cover direct operating expenses of an agency, rather it hopes to enhance already established programs.

The Elk County Development Fund and Fund of the Future generally look to support community development initiatives that will enhance the economic and community wellbeing of Elk County. Projects should include activities that are innovative and have a plan to sustain themselves.

For instructions on how to apply for a grant go to the Foundation website at www.elkcountyfoundation.org. Please call our office at 834-2125 with any questions. 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.

PHOTO: The St. Marys Christian Food Bank received a 2019 grant from The Harrison and Muriel Dauer Stackpole Foundation for the holiday baskets distributed to families in the St. Marys area.

Farmers National Bank presents EITC check to Community Foundation

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Farmers National Bank presents EITC check to Community Foundation

Recently, Farmers National Bank presented a check for $2,500 to the Elk County Community Foundation(ECCF) from their Educational Improvement Tax Credit Program (EITC) approved donations. These dollars will be used to provide local school districts or agencies that serve Elk County School students K-12 with pre-approved innovative educational programs for the upcoming 2020 grants.

Any entity authorized to conduct business in the Commonwealth of Pennsylvania and subject to certain taxes is eligible to apply to be involved with the EITC program. Tax credits are limited to 75% of the business’ contribution with a maximum of $750,000 annually. If a business agrees to make the same contribution for two consecutive years it may receive a tax credit equal to 90% of its contribution.  Interested participants must submit a brief application to the DCED. More information about applying can be found at https://dced.pa.gov/programs/educational-improvement-tax-credit-program-eitc. 

As an approved EITC partner, the Community Foundation receives donations from qualified businesses to provide innovative educational programming within the public schools K-12.  In the photo: Paula Fritz Eddy, on left, and Tom Jesberger of the Community Foundation, on right, accept the check from Shawn Gouldthread, Branch Manager of the St. Marys Branch of Farmers National Bank.  For more information about the Community Foundation or EITC opportunities contact Paula at 814-834-2125 or visit our website at www.elkcountyfoundation.org .