A presentation to the Sitka Chamber of Commerce on 5-8-13 by Connie Sipe, interim steering committee member of the Greater Sitka Legacy Fund.

2.  a tax-exempt, nonprofit, publicly supported,
philanthropic institution…
 for the broad-based charitable benefit of the
residents of a defined geographic area.
What Is a Community Foundation?

3.  By building a community based endowment.
 Like a permanent fund, essentially a savings account, where
you only spend the interest.
 Distribute a percentage of the assets after gains
(the interest) to make grants to fund activities in the
community.
 Allocate a small percentage of earnings to cover the
foundation’s administrative costs.
 Reinvest some gains back into the fund so that it will
grow.
 The goal is for the endowed funds to become more
sizeable and significant over time!
How does a Community Foundation work to
improve a community?

4. 6+ TIMES
Assumes 4.5% annual payout and 8.5% rate of return
Initial gift has
been invested:
1 TIME 2 TIMES
YEAR 50
$66,000 in
cumulative
grants and
services
$57,000
balance
YEAR 1
Establish a
Named
Fund
$10,000
gift
Source: © 2008 Midwest Community Foundations’ Ventures
One Gift, Many Generations
Source: © 2008 Midwest Community Foundations’ Ventures
YEAR 25
$19,000 in
cumulative
grants and
services
$23,000
balance
YEAR 15
$9,000 in
cumulative
grants and
services
$16,000
balance

5. MISSION OF THE SITKA LEGACY FUND
 …is to support our community’s resiliency and self-
reliance, now and in the future. We are committed
to keeping our community a vital, progressive, and
healthy place where people can live, work, raise
families, and retire by:
 working together to solve problems,
 nurturing our valued historical and environmental
heritages,
 celebrating life through spiritual, artistic, athletic,
and cultural expression,
 promoting education and economic prosperity

6. HISTORY OF SITKA EFFORTS
 For years, Sitkans have been discussing the idea of
starting a “community foundation.”
 In 2012 Sitkans met over several months to explore
this topic in a series of public meetings.
 After year of study and discussion the working
group voted and applied for a Community Asset
Building Initiative “CABI” grant from the Alaska
Community Foundation.
 Early in 2013 The Greater Sitka Legacy Fund
steering committee was awarded the CABI grant to
create a community foundation affiliate in Sitka.

7. GREATER SITKA LEGACY FUND GOALS:
 As a CABI we have the opportunity to receive a
matching grant if we meet these GOALS for 2013
and 2014:
 Raise $50,000 in from FOUNDING MEMBERS of the
Sitka Fund in 2013, and
 Raise another $50,000 from FOUNDING MEMBERS of
the Sitka Fund in 2014.
RESULT: $200,000 in endowment fund of Greater Sitka
Legacy Fund by end of 2014!

8. HOW CAN YOU HELP?
 Become a Founding Member by giving a donation
in 2013 or 2014
 Recommend someone you respect for the Sitka
ADVISORY BOARD of the Sitka Legacy Fund
 Help with ongoing growth of the Sitka Legacy Fund
through sharing information about legacy giving
(bequests, donations of property, grants, and
individual gifts),

9. IMPORTANT INFORMATION
 The Greater Sitka Legacy Fund is committed to
these ideals:
 Will emphasize we do not want Sitkans’ to reduce
annual giving to local charities and projects;
 Will mostly seek direct gifts from individuals and
organizations, and create an opportunity for giving by
bequests;
 Intends to promote an even greater spirit of
philanthropy—giving—within Sitka; and
 Intends to focus on growth of local resources for the
FUTURE—someday the Sitka Legacy Fund will be self-
sustaining and able to supply a major portion of local
needs—actually supporting other non-profits and locally
important projects.

10. SITKA will increasingly become a
retirement community; are we ready?
From 2010 to 2030, Sitka expects no overall population growth.
• In 2010, seniors age 65+ were 11 % of our community.
• In 2020, those over age 65 will be 17% of Sitka.
• In 2030, Sitka will be home to 23% of its population in the age
65 plus bracket.
Generational transfer of wealth is happening in Sitka
and could be accelerating in near future. The Greater
Sitka Legacy Fund offers a financially sound option for
you to leave your legacy in our community.

11. What does Greater Sitka Legacy Fund
get from the Alaska Community
Foundation?

12. › All IRS compliance performed by ACF- audit, 990, and gift
acceptance
› Lower investment costs, less risk, and potentially higher
returns
› FIMS software for accounting, donor data tracking, and
fund reporting and statements
› Communications and marketing support including online
giving through customized Affiliate webpages hosted by
ACF
› Automatic eligibility for Pick. Click. Give.
Economies of Scale

13. Services
› ACF staff expertise
› Ability to accept a variety of gifts
› Grant and gift processing
› Gift acknowledgement letters and receipts
› Professional investment oversight
› Web-based grant application system
› Legislative monitoring, updates and advocacy
› Educational opportunities

14. › Credibility with donors: endowed funds
will ALWAYS be designated for the
community
› With national and statewide funders: ACF
and Affiliates comply with the National
Standards
› Statewide representative board
› Statewide brand/logo with Affiliate identity
clearly delineated: promotes local
credibility while saving cost of statewide
marketing
Credibility

15. :
www.alaskacf.org or
www.greatersitkalegacyfund.org