Boonville Community Foundation moving forward
BOONVILLE — A new entry into the charitable scene in Boonville, the Boonville Community Foundation seeks to match local donors to causes they care about most.
Rather than being a competitor for charitable dollars, the Boonville Community Foundation (“BCF”) seeks to enhance charitable giving in the community by creating long-term sources of revenue for most any charitable purpose.
According to Kate Fjell, Special Project Assistant for the City of Boonville, “The Boonville Community Foundation promises to be a great way to channel a donor’s charitable gifts.”
Instead of the common image of a foundation as a single silo of money provided by a primary donor that is then directed by a board for specific, board-defined purposes, a community foundation is composed mostly of numerous permanent funds established by donors for various purposes for the long-term benefit of the residents of a defined geographic area, such as Boonville.
Grants from Community Foundation funds are often advised by the donors, who create specific funds which match their charitable interests. For example, a donor who has deep commitment to early childhood education can establish a fund that will be used solely for that purpose. Or a donor who has many charitable interests can establish a donor-advised-fund, from which the donor recommends grants on an ongoing basis to a broad array of needs. Such a fund is an effective, low-cost alternative to a private foundation—with much less hassle and reporting requirements.
The BCF is an affiliate partner of the Community Foundation of Central Missouri, which has its office in Columbia, MO, and which provides the back-office work for BCF. The BCF was started in April 2012 with two main funds donated by the City of Boonville for future granting to charitable needs. Two additional funds have been established by independent Boonville citizens, one dedicated to the renovation of the Katy Bridge crossing the Missouri River in Boonville, and the other a donor-advised-fund for family charitable giving.
John Baker, Executive Director of the Community Foundation of Central Missouri, says that he is “delighted by the prospects of enhanced charitable giving and philanthropy in the Boonville area as a result of starting up the Boonville Community Foundation. Every city in Missouri deserves the opportunity to give and receive from a local community foundation. They can make so many terrific things happen for communities.”
One of the specialties of the Boonville Community Foundation is its ability to receive alternative gifts such as appreciated stock (publically traded or closely held), land, artwork, jewelry, and more, to fund a charitable fund, which may then be granted to charitable causes. A community foundation enables local citizens to keep the wealth of a community in the community for that particular community’s needs and enhancements. The only limits to a community foundation’s positive impact are the charitable hearts and creative minds of the citizens of a geographic area.
While the City of Boonville initiated the BCF partnership with the Community Foundation of Central Missouri, the BCF is in the process of being turned over to a local board of directors who will make all decisions regarding the Foundation independently from the City. The BCF is designed to be of and by the citizens of Boonville.
If you have questions about the Boonville Community Foundation, please contact Kate Fjell or John Baker.