CONNECTING PEOPLE WHO CARE WITH CAUSES THAT MATTER
Grant County Community Foundation creates a path to greater prosperity for all by helping:
1. Envision a better future.
2. Inspire charitable giving and grow endowments.
3. Fund community needs and opportunities.
In 2006, the Grant County Fund was established with the Western Kansas Community Foundation (WKCF) as a field of interest fund to serve the philanthropic needs of Grant County. An Advisory Committee was selected to provide a local presence in Grant County and a channel of communication with the Western Kansas Community Foundation regarding the needs and service opportunities in Grant County. Since then, we have participated in two successful funding challenges which provided $88,518 in matching funds in addition to the endowments received.
As the fund was developed and additional opportunities offered through the WKCF, the fund transitioned to the Grant County Community Foundation (GCCF) in 2010 and became a full affiliate of WKCF. On June 14, 2017, the Grant County Commuinty Foundation Board of Directors voted to withdraw from its affiliate status and become an independent community foundation. As of December 15, 2017, GCCF has incorporated and received in 501(c)3 status from the IRS.
During the last eight years, over $550,000 has been granted to organizations in Grant County through the combined efforts of the Grant County Community Foundation and the Western Kansas Community Foundation.
PURPOSE
The Grant County Community Foundation (GCCF) is a charitable not-for-profit foundation whose primary purpose is to build permanent endowment funds through service to donors who have charitable interests.
The GCCF is governed by a Board of Directors, consisting of eight (8) to sixteen (16) volunteer members. The Board of Directors has the responsibility for charting the most suitable long-range course of action for the foundation, and determining the major steps and timing involved in accomplishing the goals of the foundation.
TRANSFER OF WEALTH
STUDY UPDATED
The transfer of wealth study was commissioned by the Kansas Health Foundation and was conducted by the Center for Economic Development and Business Research at Wichita State University in 2007. It was updated in the summer of 2012. Future intergenerational wealth transfer for the state and for each county in Kansas was estimated based on a model initially created by Boston College.
TRANSFER WITHIN KANSAS
The Kansas Association of Community Foundations (KACF) projects that over the next eight (8) years, nearly $79 billion will transfer from one generation to the next in the state of Kansas. Most of this wealth will be transferred to heirs or applied to taxes. However, Kansas community foundations are leading an effort to ensure that a portion is preserved and invested in communities across the state.
“Our conservative goal is to secure 5% of the total amount of wealth being transferred in the next eight (8) years by encouraging individuals, families, and businesses to give together to community foundation endowments or to local nonprofits. Through this generosity, we have the potential to add #3.9 billion to community foundation endowments,” stated Svetlana Hutfles, KACF Executive Director.
LOCAL TRANSFER
“For many years, families lived their lives close to their homestead and near other relatives, and as wealth passed from one generation to the next, assets and support stayed local. As times have changed, so has this trend,” states Shea Sinclair, former Western Kansas Community Foundation Executive Director. “As wealth and assets leave Western Kansas, it may never return.”
GRANT COUNTY
Estimated wealth to be transferred between 2010-2019
$196, 213, 113
5% Capture Goal
$9, 810, 656