Peabody Community Fund Created

At a time when small towns are struggling with an uncertain rural economy, Peabody citizens want to make sure their town is still thriving when it celebrates its bicentennial.

The Peabody Community Fund (PCF) was developed as one of the building blocks to make that bright vision a reality.

Through the long-term investment of capital contributed by individuals, organizations or corporations, the foundation enhances all areas of life, including education, environment, health care, civic activities and human services.

The PCF has been established as an affiliate of the Newton Community and Healthcare Foundation to help offset the high costs of establishing and maintaining a foundation. The affiliation also will help ensure professional management of the monies donated to the community.

The PCF simplifies charitable giving. One contribution may address a number of needs and benefit several community organizations.

"This pooling of resources enables us to meet today's challenges and pass on a rich, vibrant community to future generations," said N.M. Patton, chairman of the PCF. "The foundation has the flexibility to respond to changing conditions in the community."

Donors may contribute in the following ways:

Unrestricted: An unrestricted fund allows the foundation's board of directors the most flexibility in responding to the emerging problems and needs in the community.

Designated: Donors may designate one or more specific organizations. These designations will be honored as long as the recipient organization delivers the services that the donor wished to support. Should the organization cease operation, programs with similar goals will be identified so that the charitable interest of the donor is fulfilled.

Donor-Advised: These funds allow the donor to suggest use of the donated funds without the administrative responsibilities present in a private foundation. Though IRS regulations require that the foundation have ultimate control of the fund, the foundation accepts the donors' recommendations to support valid charities and public charitable projects.

Organization: Not-for-profit organizations may establish their own endowment fund.

Scholarship Fund: Scholarships are provided for deserving students. Donors can designate scholar fields of interest while making use of the foundation's tax benefits and pooled investing.

Field of Interest: A donor can establish a fund designed to benefit certain areas or charitable endeavors, such as the arts, preservation, social service, education, etc.

The PCF board has set a $2,000 minimum for establishing named funds.

However, no amount is too small to give to an existing named fund or to one or more of the foundation's general funds.

Gifts may be cash, real estate or stocks, and may be set up through long-term trusts within estate plans. As a public charity, the foundation can provide substantial tax advantages for individuals and corporations.

For a brochure outlining the PCF, please write P.O. Box 131, Peabody, KS 66866, or contact the Newton Community & Healthcare Foundation at 316-804-6007.

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