The Community Foundation is a great place to teach kids about philanthropy.
Philanthropy is for the wealthy – right?
Wrong!
Anyone can become a philanthropist because every individual has an opportunity to make a difference. Kim Russell of The Community Foundation is passionate about fund raising for every type of non-profit organization. “It doesn’t take a huge financial donation to have an impact. Any level of donation is helpful to someone,” she explains.
Whether you are an individual, a couple, or a group, there are plenty of ways to give back to the community in meaningful ways. If people know they want to give back to the community but aren’t sure how to do it, The Community Foundation can help them find the best fit based on their values and passion. They work with people to identify needs within the community and introduce them to ideas for consideration.
A program very appealing to young single women and Richmond moms is the “Impact 100 Richmond” program. 100 women will give $1,000 each to create a $100,000 grant to be given to a mutually-selected nonprofit. “More than 100 women are welcome to join, however, and our impact will be that much greater”, according to their website.
During the Christmas holidays, many people are searching for ways to make a difference. The Community Foundation offers plenty of opportunities to give, and to teach children about giving to help others.
Kim Russell
“We have a lot of younger families working with us right now to find ways to give, because it’s important to them and they want to raise their children with similar values,” Kim says. “Many involve their children at a young age so they are advisors to the funds as well. This has evolved over the past 5-10 years and definitely broadens the definition of philanthropists.”
One program Kim talked about was The Youth Philanthropy Project, with a goal of getting kids from 8-12 grades to participate in a grant-making program. “The Community Foundation allocates a dollar amount to grant out and the kids work as service leaders to determine how the money should be spent. Youth from within the community write proposals for service projects where they need money to make it happen and submit those ideas to our youth committee. They are carefully reviewed and we work with the kids to award grants. It’s an important way to teach children the value and importance of philanthropy at a young age.”
Adults who want to make decisions about endowments or donations after their death are finding that The Community Foundation is an excellent resource. The Foundation can actually take them to visit non-profits of interest so they get to know the organization, the leaders, the people, and the mission. This helps them make informed decisions about how their donations will eventually be spent. Donors can donate a percentage of their estate or leave a designated value.
“We’re not just in fund management – we’re in relationship management and connecting people together.”
Kim explains that it is easier than many people think. “Endowments and donations are lower than many people think. The minimum fund amount is $10,000. We have a wide range of donors including nurses, librarians, teachers, CEOs, presidents, millionaires and part-time employees. Some of them may decide to pool their assets and make larger endowments for the same cause when they have a shared passion.
Kim explains that most people still focus on philanthropy and endowments at retirement during estate planning. But they are glad that younger families and individuals are getting involved earlier because it creates value for multiple generations. It’s also a way to get involved with a non-profit organization before money is donated and making a difference through volunteering and supporting current-day events and fundraising activities.
“We invite anyone to come talk to us about philanthropy – at any level. People have a desire to help the poor, disabled, AIDS/HIV research, animals, arts, history and any number of areas. We are able to connect them with those organizations to find the right fit and help them create a legacy that has personal and significant meaning to them.
Visit The Community Foundation website and see how you can make a difference and become a philanthropist.
