Waterville Community Foundation
"Leaving a Legacy for Waterville"
The Waterville Community Foundation was formed in 2000 to provide permanent resources to enhance and support the qualify of life for Waterville. The Foundation is a tax-exempt public charity, which allows individuals, through gifts and bequests, to establish funds within a larger foundation. Income from this fund will assist the community in responding to emerging problems and opportunities and in preparing for the future. Waterville is associated with the Northeast Iowa Community Foundation of Waterloo, Iowa and their web address is: http://www.communityfoundationneiowa.com/.
Balances as of October 31, 2007
Perpetuity Fund = $ 33,179.83
Friends of Waterville Elementary Scholarship Fund = $ 24.70
Waterville Community Foundation Contributors
Who may make gifts to the Foundation? Anyone who is interested in the future development of the Waterville area, whether a resident or not, may make gifts to the Foundation.
How large must a gift be? Gifts may be any size. Many $1 gifts count as much in the work of the Foundation as one very large gift. Donors to the Community Foundation range from people of relatively modest means to those with large financial resources.
What are the benefits of giving to the Waterville Community Foundation? Investments of the fund and charitable distributions are overseen by a Board of Trustees, comprised of Community leaders familiar with the diverse range of needs within the community. By combining a number of smaller gifts to one large, single fund makes it possible to undertake major community projects. The endowments provide stability over time and enable us to respond to a community's changing and emerging needs. The foundation offers a number of options for making donations. Usually gifts are made with the understanding that only the investment income from the donation will be distributed. Donors may determine a distribution formula that best matches their own interests.
Why choose the Waterville Community Foundation? The Waterville Community Foundation was established to support the various areas of need in the community. Determining where one's money can have the most direct and lasting impact is a frustrating and time-consuming process. This is the reason that donors of the Waterville area are choosing the Waterville Community Foundation - the fastest growing instrument of planned giving - as their preferred vehicle of philanthropy.
Does the Foundation accept memorials? The Waterville Community Foundation welcomes all gifts of all sizes as living memorials. The Foundation promptly acknowledges your gift with notification to the family members of individuals being remembered or honored.
How can I give to the Community Foundation? Your gift may take whichever form provides you with maximum tax benefits. You may give securities, real estate, insurance, and real property such as art or cash. Your gift either may be given outright or may be made by bequest or by trust agreement as a deferred gift. Many donors name the Waterville Community Foundation the beneficiary of their retirement plan, Charitable Lead Trust and through their wills. The Foundation also manages Charitable Gift Annuities where the donor receives lifetime income as a result of their gift.
"What a man does for himself, dies with him; what he does for his community, lives long after he is gone."
Foundation Contribution Form
For more information please contact:
Virgil Thorstenson (563) 535-7546
Rich Leiran (563) 568-6806
Bill Halvorson (563) 535-7622