The McPherson County Community Foundation is looking to area residents, businesses and groups to help meet its long-term goals.
$12 M by May
The Foundation is about $400,000 shy of a goal set in May 2010. At that time, funds were at $6 million, but foundation administrators set a “12 in 12 Campaign,” which would require current assets and planned giving to equal at least $12 million by May 2013. This monetary goal would be met by the foundation’s 12-year anniversary.
Current assets are completed gifts that are invested and being used for grant distribution and administrative costs. Planned gifts are funds that become active after death.
The foundation currently sits on about $11.6 million, and president Becky Goss is hoping to accomplish what administrators set out to do. The $12 million is what they estimate the foundation will need in order to continue operations at its current level.
“We are close, and we need to push to get the last bit of it under our belt,” she said. “We’re dangerously close and I’d hate to leave it like that.”
$25 M by 2021
Administrators also have set a goal for August 2021 that current assets and planned giving would total $25 million or greater.
This number comes from transfer of wealth numbers, which estimate a $236 million transfer in wealth from one generation to the other in McPherson County between now and 2019. Considering the $12 million reached by 2013, in addition to a 5 percent capture on that transfer of wealth, Goss estimates the foundation can reach its 2021 goal.
The foundation’s estimates are based on numbers projected by The Center for Economic Development and Business Research at Wichita State University, commissioned by the Kansas Health Foundation to estimate future intergenerational wealth transfers for each county in Kansas.
“As we continue to grow (the endowment), we can continue to increase the amount of dollars we can award to nonprofits in the county and also to help with programs and projects and stuff like that,” Goss said. “We know there is more need then what we’re able to fund. We see the numbers, we see what grants are being asked for, so that helps us determine we need to grow.”
Although many of the funds given to the foundation are designated, Goss said she hopes some will not be, which will allow the foundation more flexibility in distributing its aid.
“That requires donors to trust us to make those decisions,” she said. “Over time, we’ve put ourselves more and more in that spot. They’ve learned to trust us.”
A continuing stream of funds is crucial to the foundation’s service to the county, even once these goals are met.
Page 2 of 2 - “We understand that we have two separate goals, and they are focused on building the foundation and building the endowment for the future,” Goss said.
Donations may be given by calling the foundation at 620-245-9070. For continuing information, visit www.mcphersonfoundation.org.
Contact Jenae Pauls at email@example.com and follow her on Twitter @PaulsSentinel