The Town of Sheridan

We are pleased to join the Town of Sheridan in celebration as they launch the newly redeveloped Sheridan.org.   Legacy Fund shares in the excitement with Sheridan and other local communities increasing connectivity to residents with social media

Join - The Town of Sheridan Website

The Newest part of the Legacy Fund team!

Meet, Kerry Byrne, the newest part of the Legacy Fund team! We are thrilled to have her onboard and know that you will offer her a warm welcome as well.

Register your child at Happy Hollow!

Legacy Fund and CICF have partnered with Happy Hollow Camp to provide $16,900.00 in scholarships to low-income families who normally cannot afford the enriching opportunities that summer camp programs provide. Register your child at Happy Hollow prior to June 8th and receive an early-bird discount!

Contact us or visit website -  http://www.happyhollowcamp.net/

5 Receive Nation’s 1st Undergraduate Degrees in Philanthropic Studies

Congratulations to the first five baccalaureate graduates of Indiana University’s Center on Philanthropy. Legacy Fund salutes those who are serving and want to serve our communities through effective non-profit organizations.

As a sophomore studying anthropology at a college in southern Indiana, Mark Lighthizer took a spring-break trip to build houses in the Dominican Republic. He saw a lot of needy people, but he didn’t know how he could help them.

Back at school, it gnawed at him until he discovered a new major starting in the fall of 2010 at the Center on Philanthropy at Indiana University, in Indianapolis. He was one of the first to apply.

In May, the 22-year-old became one of the first five graduates of what is believed to be the first-ever bachelor’s degree in philanthropic studies, a liberal-arts program based at the center. The program, say its organizers, is intended to produce future nonprofit leaders who are not only well-versed in the nuts and bolts of nonprofit management but also comfortable weighing the philosophical questions they will encounter on the job.

30 Second Quiz on Food Insecurity

Question 1: What Is Food Insecurity?

Answer: Food insecurity is an official term that means a person, family, or group is experiencing hunger or under nutrition. It can be short or long term.

Question 2: Which Indiana county has the fastest growing food insecurity rate?

Answer: Hamilton County

Legacy Fund recently granted $15,000 through its community endowment to support Mobile Food Distribution Days to provide thousands of pounds of food to people in need. Upcoming dates:

Event for Professional Advisors

Is your attorney, CPA, CFP, insurance agent or investment manager at this meeting? Check our the video. Legacy Fund and CICF held this event for professional advisors who intentionally advise clients toward charitable giving.

Mobile Food Distribution: May 17 at Sheridan High School, 4pm

Legacy Fund, Gleaners, and the Good Samaritan Network are partnering together to help people experiencing food insecurity in Hamilton County. The next Mobile Food Distribution Day is May 17 at Sheridan High School at 4pm.

Charity Highlight: Chaucie's Place

Child sexual and physical abuse happens everywhere, even Hamilton County. Chaucie's Place was birthed through the tragedy of one girl, Chaucie Quillen, by a group of committed volunteers and the Legacy Fund. Listen to Toby Stark, Executive Director talk about their mission.

New Partnership Rewards Schools for Promoting College Readiness among Low-income Middle School Students in Hamilton County

Twenty-first Century Scholars (TFCS) Program has partnered with Legacy Fund Community Foundation to launch a pilot TFCS Enrollment Challenge program in Hamilton County. The goal of this new initiative is to increase TFCS enrollment county-wide. The TFCS program is an early-promise scholarship and college readiness program that has successfully increased the percentage of low-income Indiana students that actually enroll in a college or university upon graduating from high school. To help promote college readiness, the TFCS Enrollment Challenge will reward lead school representatives that enroll at least 75% of 7th graders and at least 90% of 8th graders into the Scholar program before the June 30th deadline. Successful schools and lead representatives will be publicly recognized for reaching and/or exceeding program enrollment goals. In addition, lead school representatives will be honored with a Simon gift card valued between $300 -$500 for meeting 2012 TFCS Enrollment Challenge goals. Additional educational awards will be provided to each school that achieves 90% or higher 7th or 8th grade enrollment.

ABOUT TWENTY-FIRST CENTURY SCHOLAR PROGRAM

The Twenty-first Century Scholars program, established in 1990 by the State of Indiana, encourages low-income middle school students to prepare for post-secondary opportunities. In exchange for academic and civic accomplishments during high school, enrolled students receive post-secondary tuition assistance to attend any public college or university in the State of Indiana.

Parents or guardians must enroll their child(ren) between 7th and 8th grades to qualify to receive the Twenty-first Century Scholarship. Students are also required to sign a pledge that promises they will: (1) graduate from an accredited Indiana high school with a diploma and at least a 2.5 cumulative grade point average, (2) abstain from the use of alcohol, drugs or committing a crime, (3) apply for college admissions, and (4) complete the Free Application for Federal Student Aid (FAFSA) form on-time. For more information, contact Amy Parraga, at 765.455.9533 or AParraga@ssaci.IN.gov

ABOUT LEGACY FUND

Legacy Fund, an affiliate of the Central Indiana Community Foundation (CICF), serves Hamilton County by administering charitable funds, foundations and organizational endowments for individuals, families and not-for-profit entities. Established in 1991, Legacy Fund's goal is to inspire philanthropy as it helps people enhance their family and charitable legacies in tax-smart ways. Legacy Fund has three main priorities: consult with donors, family foundations and professional advisors on charitable giving; award grants; and provide leadership to address community needs. For more information, contact Terry Anker, President, or Mark Robbins, Vice President, at 317.843.2479 (office) or:

Stamp Out Hunger: May 12

Don't miss this! The US Postal Service is taking donations of non-perishable food for local food pantries. Leave items in a bag by your mailbox. They will be picked up and delivered. May 12 only! Join Legacy Fund as we support those in need in Hamilton County.

Become a Successful Foundation Board Member

Board membership usually isn't a career destination. No college major or clear pathway leads to the boardroom. Foundation board membership is the result of a variety of circumstances: a wish to advance an area of passion, believing in the purposes of a particular foundation, or simply acting on the suggestion of a friend or colleague to personally engage in philanthropic work. While the roads to board service vary by individual, becoming a board member is only the first step. Being a successful board member is an ongoing process.

The best starting point is simply understanding that board service is a developmental process—and that becoming a good board member requires commitment, knowledge and skill development, and a willingness to engage in a journey that begins even before the actual service starts. It requires you to focus on the institution, learn about the broader societal context, and improve your service individually and as a member of the governance team. You can take several steps to do this.

Understand why. Board service carries expectations that relate to all board members generally and to you specifically. Be clear on why you are being considered and certain you understand what contributions you are expected to make. The board must be a good fit for you, and you need to be confident that you can deliver what is expected. Your commitment to the work of the foundation must be strong, and you must be willing and able to fulfill the expectations associated with membership.

Learn the institution. Effective board service requires initial and ongoing research about the institution and its work. It begins with knowing the organization's vision, mission, values, history, programs, and budget. However, this information alone does not tell the entire story. Having a clear sense of the organization's culture, aspirations, challenges, opportunities, stakeholders, and impact on society is an ongoing learning process that positions you to engage actively in shaping the foundation's future. A good board member has cultural awareness, a deep understanding of what makes the foundation special, and a connection to its good works and the people who help make that happen.

Know the roles. Various roles may unfold for you over the course of your service. And there are crucial ethical and legal responsibilities to which you'll be accountable. Be sure to understand these at the outset of board service. You'll also need to know about the roles of committee chairs, the board chair, and informal roles such as mentor, adviser, or "culture keeper."

Pursue individual development. Excellence as a board member reflects a commitment and willingness to engage in ongoing learning and development. Some of it happens informally through observation, experience, and mentorship. A good board member will be an active, curious participant engaged in the overall organization, acquiring knowledge, insight, information, and guidance along the way.
Individual development also means accessing educational opportunities to engage with experts and other colleagues. The work of foundations is framed by policy, law, public opinion, and social issues. Board members need to understand the ways these forces affect foundations and shape the future. The Council offers various courses and educational opportunities for new and seasoned board members to help you advance your understanding and effectiveness.

This article is taken from "Council on Foundations"

Good Samaritan Network

Attending the monthly Good Samaritan Network with many of the key NFPs in Hamilton county.
Topics: mental health services, Vectren's bill assistance program, and mobile food distribution dates this summer.
Legacy Fund is proud to partner with many front line charities helping Hamilton County residents in need.

Reality Check: Did Bill Gates Make the Right Decision?

Yesterday, I sat down with a successful businessman to help him sort through his options in creating an official charitable fund to organize his giving and involve his family. He just sold his business, is retiring, and is wanting to write the next chapter in his life. His initial thoughts were oriented around the most common fund that people are aware of: the private foundation. Hey, Bill and Melinda Gates have one, so it must be the right option, right?

Maybe not. Experts are increasingly saying that you need at least $10 million in a private foundation to make it cost effective. Why? It is a separate charitable organization with a required tax return (IRS form 990), and legal work. Want some more reasons?

• Anyone can get your 990 on the web and see who is on your board, your investments, expenses, and grants.
• Private foundations are required to distribute 5% to charity annually. Mess that up and the IRS can hit you with penalties.
• Private foundations are subject to stringent self-dealing and investment restrictions. Again, think penalties.

So you need at least $10 million in a private foundation to make it worth the hassle. Fortunately, there is an easier way to do good (no matter which side of $10 million you are on). I have three words for you: Donor Advised Fund (DAF).

• You can set one up through a community foundation like Legacy Fund.
• No separate tax return is needed (so no one can see your activity).
• The expenses are less, and you’ll have a partner to handle the back office.
• The minimum is $25,000. You can fund it with a variety of assets, including bequests.
• The tax deduction limits are higher vs. a private foundation (so you can give more and claim it this year).
• DAF’s don’t have a 5% minimum annual distribution. Grow it or give it away—your choice.
• You can involve your family in multi-generational giving, and you can give to any legitimate charity anywhere.

After reviewing all of this with the business man, I could see the light bulb turn on. It’s kind of a “no brainer.” Legacy Fund and CICF administer many DAFs with families because DAFs make it easy (and fun) to do good. Let Bill Gates have all the headaches.

Did You Know?

Currently 15.9% of kids in Hamilton county public schools participate in the federal free and reduced lunch program. That represents 8,504 children. Here is the breakdown:

• Carmel: 9.4%
• Hamilton Heights: 30.2%
• Hamilton Southeastern: 14.3%
• Noblesville: 22.2%
• Sheridan: 36.4%
• Westfield: 18.2%

If these families need help with lunch costs, what about college tuition?

Get ready for an important announcement this week regarding a partnership between Legacy Fund, the school systems, and 21st Century Scholars to help break generational poverty and improve our communities.

The Truth About Endowments

Nonprofits and their donors often see endowments as the route to financial stability, but they aren’t the right solution for every organization. Here we debunk some of the longstanding myths about endowments.

Myth #1: A strong, sustainable nonprofit needs an endowment.

The one thing that sustainable nonprofits need is enough income to run their programs and pay for salaries, facilities, etc. An endowment is one of many ways nonprofits can generate income. But for some groups, it is unnecessary or even a bad idea.

So before deciding to establish an endowment, nonprofits should decide if doing so addresses how income will be used to achieve the mission, when it will be needed, and how much will be needed. Organizations that are in financial crisis, that have limited capacity to attract more donors, or that have short-term missions should avoid establishing endowments.

Myth #2: An endowment must be continuously funded and can never be drawn down.

Nonprofits can choose when it’s most feasible to add to their endowments. For example, if it’s important to increase direct aid during a natural disaster, a relief organization might reduce or even forgo endowment funding for some period of time and redirect donors to an emergency appeal. Alternatively, the board might continue to fund the endowment regardless of its current needs if, for example, it has a far-reaching goal, such as to eradicate hunger.

While most endowments have permanent restrictions on the use of their principal, others have only temporarily restrictions or even completely unrestricted components that allow the money to be spent. Endowments can also have end dates rather than existing in perpetuity.

Myth #3: An endowment is the same as a board-designated reserve account.

A designated reserve account is a pool of funds established by the board to provide certain types of capital to the organization. There are several kinds of designated reserve accounts: A working-capital reserve can provide funds during normal parts of the business cycle when cash is low–for example, when awaiting payment on a contract. A “rainy day” reserve is available for unexpected challenges or opportunities. Funds can also be reserved to help an organization recover from financial distress or to expand or acquire facilities. These pools are managed internally, though the board may place restrictions on their use.

Endowments, on the other hand, are not intended to fund routine operating activities and are often managed externally or held outside of the reach of the nonprofits’ general business managers.

Myth #4: There are limits on the amount of interest income that a nonprofit can take from its endowment

There are no such legal limits. The amount and timing of distributions is determined by the governing body of the endowment. Interest income is often used to fund board-designated reserves for future projects and to expand current programs and services. Nonprofits should, however, have realistic expectations about the yield on endowment investments. Only a large endowment that is professionally invested to maximize returns is likely to generate enough earnings to make a dent in the operating budget. Community foundations are well suited to manage smaller endowments.

When nonprofits recognize how fluid money can be, they can better assess the types of capital and cash flow they need to support both short- and long-term objectives and avoid making unnecessary trade-offs. They will also be able to tell a more compelling financial story to donors, clearly articulating their rationale and timing needs for a range of funding options including endowments, reserve accounts, grants, loans, and investments.

This article is taken from "The Chronicle of Philanthropy"

Donors Enjoy a Well-deserved Thank You!

Donors who give to the community endowment or are leaving an estate gift to their charitable fund enjoyed a complimentary dinner and some excerpts from Guys and Dolls at the Booth Tarkington Theatre with Legacy Fund and CICF board members and Staff. Thank you to these families who are making the future brighter in Hamilton County!

Steve Holt, Jaime Reagan, Lou Hensley

Otto Frenzel, Kelli Elser, Peggy Monson, Jim Longstreth

Mary Stanley, Paul Estridge

Donors enjoying Guys and Dolls at the Booth Tarkington Theatre.

Check out Hamilton County's 2012 Lilly

Endowment Scholars!

Leslie Price (Sheridan), Bobby Herron (Fishers), Kayla Snyder (Fishers), and Katya Kantor (Westfield). Legacy Fund is proud to partner with the Lilly Endowment to administer this prestigious, full-ride scholarship.

Charity highlight: University High School

Terry Anker and Mark Robbins met with University High School officials Chuck Webster and Adrianne Glidewell-Smith to learn more about the school and how Legacy Fund donors can get involved. Legacy Fund does site visits with charities so we can help donors make effective grants.