August 14, 2007

New Bremen Foundation

Larry Smith, Foundation Development and Communications Officer and Brad Smith, Foundation Administrator presented the program to the membership to share current information about the charitable foundation.  The foundation was organized in 1996 and currently has assets totaling around $2.7M which is comparable in per capita donations to the Dayton Foundation in existence for about 75 years. 

The foundation is a tax exempt charitable organization to benefit the New Bremen Community and surrounding areas and is publicly supported.  Funds donated to the foundation may be designated to scientific, literary, educational, religious, governmental and local organizations in accordance with the wishes of the individual donors.

Benefits of the foundation include that the donations are tax deductible, there are no administrative fees associated with the foundation meaning that 100% of the donated funds are made available to the recipients and a board of trustees ensure that donations are allocated in accord with the wishes of the individual benefactor.

Various types of funds exist to provide flexibility to the donor.  These include Unrestricted Funds which are pooled with donations from other sources.  The Field of Interest Funds are designated to support a specific field of interest.  The donor to the Donor Advised Funds can advise how the income from the fund is used for charitable purposes and the Donor Established Designated Funds are used to support local nonprofit organizations as designated by the donor.  The minimum amount for a donation is $1,000.

A salient example of the use of the foundation funds is the Kuenning-Dicke Natural Area which is currently under development.  It is scheduled for dedication on Memorial Day weekend in 2008.  Other local projects include playground equipment for local schools and parks, historical restoration projects and education projects.  Organizations that have benefited from foundation funds include the American Cancer Society, Auglaize Industry, Auglaize-Mercer YMCA, area churches, MECCA, and local historic and educational associations.

For additional information on the New Bremen Foundation, please contact: Brad Smith at 419-629-2311 or follow this link to the website that will be implemented in the near future.

Hosting Rotarian: Jim Dicke III