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The Illinois Prairie Community Foundation (IPCF) is a community foundation that helps connect donors with those causes they wish to benefit. [1] It serves McLean, Livingston, DeWitt, Logan and adjacent areas of Tazewell, Woodford, LaSalle, Ford and Piatt counties. [2] [3] [4] The IPCF is in full compliance with the national standards developed by the Council on Foundations. [5] It facilitates charitable giving for individuals and businesses, helps organizations with their endowment funds, and serves as a fiscal agent for charitable community projects. [6] A donor-advised fund at the Community Foundation is an economical and simplified version of a private foundation. [7]
Support is provided in the fields of human services, education, environment, economic development, arts and culture, and health, among others. [8] [9] [10] [11] [12] [13]
The foundation celebrated its 10-year anniversary in 2009. [14]
President – Richard Stroyan [16]
Vice President – Steve Timmerman [17]
Secretary – Susan Hoblit [18]
Treasurer – Diane Fishering [19]
Directors – Martha Ceja, Harold Frobish, Paul Harmon, Darrell Hartweg, Susan Hoblit, John Hutchinson, Tim O. Ives, Gene Jontry, Danny Liefel, Karla Lohnes, Gretchen Monti, Joni Painter, Jennifer Sedbrook, Bruce Unterman [20] [21]
In 1996, Carol Reitan, Alan Sender and Drake Zimmerman began preparing a community foundation for McLean County. [22] With research on existing community foundations, talks with community leaders, and meeting the legal requirements to establish a not-for-profit 501(c)(3) organization. Two years later, Mayors Judy Markowitz of Bloomington and Kent Karraker of Normal and McLean County Board Chairperson Gary Riss agreed to serve as the first incorporating board. The Community Foundation of McLean County (CFMC) was officially established on November 6, 1998. Gifts of $296,900 were placed in the Peoria Area Community Foundation of Central Illinois before the end of 1998 in an account held on behalf of CFMC. These were Donor Advised Funds, established and donated before CFMC was in a position to receive gifts.
By June 2003, the Community Foundation of McLean County was serving donors and making grants in Livingston and DeWitt Counties and surrounding areas. Permanent 501(c)(3) status had been achieved. Assets had grown to almost $600,000. The board of directors decided a name change was in order. Logan County was added to the list of locations being served and assets had grown to $800,000. In April 2004, CFMC officially became Illinois Prairie Community Foundation, Inc. In fiscal 2007 (July 1, 2006, to June 30, 2007), the Foundation and its donors distributed $484,841 in grants. Total assets as of December 31, 2007, were $5,981,822. [23]
Bloomington is a city in and the county seat of McLean County, Illinois, United States. It is adjacent to the town of Normal, and is the more populous of the two principal municipalities of the Bloomington–Normal metropolitan area. Bloomington is 135 miles (217 km) southwest of Chicago and 162 miles (261 km) northeast of St. Louis. The 2020 census showed the city had a population of 78,680, making it the 13th-most populated city in Illinois and the fifth-most populous outside the Chicago Metropolitan Area. Combined with Normal, the twin cities have a population of roughly 130,000. The Bloomington area is home to Illinois Wesleyan University and Illinois State University. It also serves as the headquarters for State Farm Insurance and Country Financial.
Normal is a town in McLean County, Illinois, United States. As of the 2020 census, the town's population was 52,736. Normal is the smaller of two principal municipalities of the Bloomington–Normal metropolitan area, and Illinois' seventh most populous community outside the Chicago metropolitan area. Chris Koos has been Normal's mayor since 2003.
A foundation is a type of nonprofit organization or charitable trust that usually provides funding and support to other charitable organizations through grants, while also potentially participating directly in charitable activities. Foundations encompass public charitable foundations, like community foundations, and private foundations, which are often endowed by an individual or family. Nevertheless, the term "foundation" might also be adopted by organizations not primarily engaged in public grantmaking.
Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gather money for non-profit organizations, it is sometimes used to refer to the identification and solicitation of investors or other sources of capital for for-profit enterprises.
A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial, real estate, or other investments for a specific purpose according to the will of its founders and donors. Endowments are often structured so that the inflation-adjusted principal or "corpus" value is kept intact, while a portion of the fund can be spent each year, utilizing a prudent spending policy.
In the United States, a donor-advised fund is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account is invested, and how it distributes money to charities.
Community foundations (CFs) are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place. Community foundations are a global phenomenon with 1700 existing around the world, of which over 700 are in the United States. Private foundations are typically endowed by an individual or a single family.
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 501(c) nonprofit organizations in the US.
Duncan Manor is a historic house located in rural McLean County, Illinois, near Towanda. The house was built circa 1866 for William R. Duncan, a livestock breeder, who was well respected for his short-horned cattle.
A foundation in the United States is a type of charitable organization. However, the Internal Revenue Code distinguishes between private foundations and public charities. Private foundations have more restrictions and fewer tax benefits than public charities like community foundations.
Berks County Community Foundation is a public benefit organization located in Reading, Pennsylvania. The Foundation's mission is to promote philanthropy and improve the quality of life for the residents of Berks County, Pennsylvania.
Until 1969, the term private foundation was not defined in the United States Internal Revenue Code. Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category such as public charity. Unlike nonprofit corporations classified as a public charity, private foundations in the United States are subject to a 1.39% excise tax or endowment tax on any net investment income.
Sprague's Super Service is a historic independent gas station on Route 66 in Normal, Illinois. It is listed on the National Register of Historic Places, Town of Normal Local Landmark, and is in the Route 66 Association of Illinois Hall of Fame.
The Wikimedia Foundation, Inc. (WMF) is an American 501(c)(3) nonprofit organization headquartered in San Francisco, California, and registered as a charitable foundation under local laws. It is best known as the host platform for Wikipedia, the largest crowdsourced online encyclopedia in the world. The organization also hosts other related projects and MediaWiki, a wiki software.
Western Indiana Community Foundation ("WICF") was incorporated on November 30, 1990 for the betterment of Fountain County, Indiana and Vermillion County, Indiana and its citizens. The community foundation is a U.S. registered 501(c)(3) non-profit charity.
The Community Foundation of the Eastern Shore (CFES) was established in 1984, and is located in Salisbury, Maryland. Its mission is to "To strengthen our community by connecting people who care with causes that matter to improve quality of life in our region" and its vision is for "...a community where all can live, learn, work, create and prosper". It serves the three lower counties of the Eastern Shore of Maryland: Somerset, Wicomico, and Worcester.
UK Community Foundations (UKCF) is a registered charity that leads a movement of community foundations committed to positive social change in the UK through the development of “community philanthropy”. Community philanthropy involves people from all parts of a community working together locally to use the financial and other resources available to them to improve others’ lives.
In philanthropy, donor intent is the purpose, sometimes publicly expressed, for which a philanthropist intends a charitable gift or bequest. Donor intent is most often expressed in gift restrictions, terms, or agreements between a donor and donee, but it may also be expressed separately in the words, actions, beliefs, and giving practices of a philanthropist. Donor intent is protected in American law regarding charitable trusts, and trustees' primary fiduciary obligation is to carry out a donor's wishes.
The Chicago Community Trust is the community foundation serving Chicago, suburban Cook County, and the Illinois counties of DuPage, Kane, Lake, McHenry, and Will. Established on May 12, 1915, it is the third largest community foundation in the country as of 2019, with assets of more than $3.3 billion. The Trust awards more than $360 million annually in grants and has awarded more than $2 billion in grants since its founding. The Trust received gifts totaling almost $469 million during the 2019 fiscal year.
Tari Renner is an American politician and academic. He was the Mayor of Bloomington, Illinois, from 2013 to 2021, and a professor of political science at Illinois Wesleyan University.
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