THE ROME COMMUNITY FOUNDATION
 Providing resources for the present and future enrichment of the Rome area community
WHAT IS THE ROME COMMUNITY FOUNDATION?
The Rome Community Foundation is a non-profit organization which accepts
gifts and bequests to be held, invested, and administered permanently. The
income on these funds benefits the people of the Rome area.
The Foundation's assets are presently held in a general endowment fund under
the direction of the Board of Directors of the Foundation. Certain assets
are held in a restricted fund known as the "Fund for the Betterment and
Advancement of the Deaf Person," the income from which is used for the
benefit of the deaf community in the Rome area.
The Foundation's Board of Directors has authorized the establishment of
other funds which may be of interest to donors, such as donor advised funds,
where income would be paid to charitable organizations and for charitable
causes recommended to the Foundation by the donor.
The mission of the Foundation is to assist in providing resources for the
present and future enrichment of the Rome area community.
WHY IS THERE A ROME COMMUNITY FOUNDATION?
The concept of a Rome Community Foundation was developed to provide
individuals and groups with a method for making gifts or bequests to a
charity of permanently endowed funds with favorable tax treatment to the
donor - the proceeds of the endowments to be used at the discretion of the
Foundation's Board of Directors for the benefit of the Rome area.
The Rome Community Foundation has investment as well as philanthropic
responsibilities.
Investments are professionally managed with the objective being a steady and
growing income stream from which to make grants.
Meeting charitable needs is the responsibility of the Foundation's Board of
Directors, the members of which are elected from the Rome community for
individual terms of three years.
The Foundation offers the Rome area an opportunity for charitable giving
with the knowledge that money given to it will be invested and the income
distributed for the betterment of the Rome community and its vicinity.
Decisions for grants are made locally, focusing on the particular and unique
needs of the Rome area.
The Foundation was organized in 1999.
WHO WILL BENEFIT FROM GIFTS TO THE FOUNDATION?
The Foundation's charter states that it is exclusively charitable and must
benefit the residents of the Rome area. It fulfills this mission by making
grants to eligible community organizations. Some community organizations
eligible for grants are Rome Art and Community Center, Jervis Public Library
and Rome Senior Citizens Center.
No one knows what charitable needs will exist in the future. It is the
Foundation's task to perceive and meet those needs to the extent it has
available resources.
Donations to the Rome Community Foundation constitute an investment in the
future of the Rome area.
WHAT ARE THE ADVANTAGES OF THE ROME COMMUNITY FOUNDATION TO A DONOR?
1. It gives a safe and farsighted method of benefiting the community
while promoting a dynamic legacy for the future.
2. Gifts are tax deductible. IRS regulations make contributions and
bequests an attractive philanthropic investment that maximizes the amount of
tax savings allowed by law.
3. Community Foundations have public charity status. As such the
Foundation is not required to pay excise taxes on investment income nor to
meet mandatory payout requirements. This means more of a donor's funds will
be available for direct philanthropic purposes.
4. A Community Foundation provides the advantages of a foundation to
those whose resources do not justify establishment of their own foundation.
A donor can establish a separate, named fund within the structure of the
Community Foundation.
5. The Community Foundation welcomes gifts that are unrestricted as they
offer the most flexibility in meeting the community's needs. Donors may
designate gifts for specific needs. Should the original need no longer
exist, the Foundation board will assure that the gift is used for purposes
consistent with the original destination.
For more information on how to include the Rome Community Foundation in your
planned giving, please phone or write:
The Rome Community Foundation
301 North Washington Street
Post Office Box 609
Rome, NY 13442-0609
(315)336-4700
All inquiries will be kept confidential
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