Frequently Asked Questions
1. What is a charitable community foundation and what makes it unique, like the Beaver Dam Area Community Foundation?
A public charitable foundation is made up of a group of individuals dedicated to providing funding and support for local 501(c)3 charitable organizations. The goal is accomplished through grant cycles and targeted giving. It is unique in the fact that the foundation is a long-term funding source that provides multiple disbursement options for the donors.
2. What are the benefits to individuals, families, businesses, industries, and agencies to be part of the Beaver Dam Area Community Foundation?
Experience: Our staff consists of dedicated, experienced professionals whose mission is to assist you and keep your intent always at the front of their mind. The staff understands the changing needs of the community and has a thorough understanding of the nonprofit organizations serving those needs.
Personalized Service and Customization: We will meet with you individually or with your financial advisor to discuss your charitable giving interests and needs, and how we can best fulfill them while making the most of your philanthropic dollars. You choose what to give, when to give, and what cause(s) or organization(s) you wish to support.
Local Commitment: An advisory board made up of knowledgeable community leaders serve as the policy makers and ambassadors for the community foundations.
Immediate and Long-Term Impact: We are committed to the stewardship of assets to ensure that the charitable goals of donors are met now and for generations to come.
Privacy: You decide when or whether you want to be recognized for your gift or remain anonymous. You can feel secure in knowing that your personal information will never be disclosed.
Tax Advantages: The Beaver Dam Area Community Foundation is considered a public charity and, in being so, donations qualify for the maximum available deduction for charitable contributions in the year when the gift is made.
3. How can I contribute to a general fund to help support Dodge County nonprofit agencies and services?
If individual or business is not yet ready to establish their own fund, but still wish to support the needs of our community, they can contribute to the Beaver Dam Area Community Foundation’s Community Fund at any time. Gifts of cash, life insurance, and assets that can easily be converted into cash, such as publicly traded securities, are appropriate to donate. Other assets may also be considered.
Donations made online or by check are tax deductible. Online donations may be made at http://beaverdamacf.com/becomeadonor.html. Select OTHER FUND in the drop-down box, then enter Community Fund in the FOR box.
Checks should be made out to Beaver Dam Area Community Foundation with memo line indicating Community Fund. Mail checks to: Beaver Dam Area Community Foundation, P.O. Box 721, Beaver Dam, WI 53916
4. Who decides how and when the money is distributed to Dodge County nonprofit agencies?
There are two methods for the distribution of funds. The first being through the unrestricted fund grant process, where the steering committee reviews grant applications. This generally occurs twice per year.
The second is through donor advised giving, where donors give to a charity or cause of their choice.
5. How can an agency or group apply for a grant from the Beaver Dam Area Community Foundation?
The Beaver Dam Area Community Foundation conducts two grant cycles each year. The applicants must meet all of the requirements of an IRS 501(c)3 charitable organization, as well as complete the required grant application and provide any necessary documentation. Grant applications are available in January and September of each year.
6. How can I get involved with the Beaver Dam Area Community Foundation?
There are a number of ways to get involved with the Beaver Dam Area Community Foundation. First is to provide financial support through a gift or by establishing a fund. Other options include being on the steering committee or sub-committees, and promoting the good works of the Foundation.
7. Who do I contact for more information, answer questions, obtain a speaker, or set up a personal appointment with the Beaver Dam Area Community Foundation?
Tom Heffron, President | (920) 763-2618
Patrick Lutz, Vice President | (920) 344-2827
info@beaverdamacf.com
www.beaverdamacf.com
Beaver Dam Area Community Foundation
P.O. Box 721, Beaver Dam, Wisconsin 53916