Support of Beaver County
Why, and for what purposes?
As a public community foundation, the Beaver County Foundation was formed with a vision for what Beaver County “could be.” What it “could be” with individuals and organizations providing a small portion of their means to build a source of support for the years to come. The Beaver County Foundation is for supporting today’s agencies, programs and people as well as providing for the generations to follow.
The mission of the Beaver County Foundation is to create an atmosphere for and an understanding of philanthropy, the love of humankind, in order to preserve and encourage the development of organizations and programs that meet human needs. This shall be accomplished by enabling individuals and organizations to build endowments, which, in turn, produce revenues designed to strengthen programs, and events which serve to benefit the people of Beaver County and the surrounding geographic region.
As a community Foundation, the Beaver County Foundation offers individuals and organizations the opportunity to develop special interest funds which serve to meet the need of the donor while strengthening the community thus contributing to the maintenance and progress of the Beaver County region.
A Vision for Beaver County
Vision is the ability to see into the future. The Directors of the Beaver County Foundation have a Vision for the Future….for the year 2020. By then, or perhaps sooner, the directors expect to reinvest $1 million each year in Beaver County. The reinvestment will include scholarship for young people, community renewal programs, community development initiatives, income funds for churches and synagogues, funding for medial programs, and fund for special projects that add to the general well being and enrichment of life in Beaver County and the surrounding region.
In order to produce an income stream of $1million each year, an endowment principal of $20 million is needed. This will be accomplished by creating scholarship funds, donor advised funds, special interest funds, memorial funds, using the philanthropic intent of the residents and advantageous estate and tax planning techniques. Through carefully worded “will, trusts, life insurance,” and other instruments, individuals can become philanthropists for as little as $5,000. A $5,000 fund would produce $250 per year for distribution. A $100,000 fund principal would produce $5,000 annually for distribution, while a $1 million fund would enable the distribution of $50,000 per year. These endowed funds would provide annual support for churches, colleges, hospitals or social service organizations. Imagine what these resources will mean to Beaver County.
With a gift of $300,000 or more a donor may have a named “foundation” within the Beaver County Foundation. A designated fund becomes a “foundation within a foundation.”