Community News - November 2019
Resources for community foundations & designated funds
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Greetings!
Where did fall go! I hope you had some time to get out and enjoy the turning color of the leaves before they were mostly gone. November starts yearend fundraising. This issue of community news will focus on some fundraising tips and opportunities.
I have some additional news I’d like to share with you as well, though many of you have already guessed! I will be out on parental leave as my husband and I are expecting our first child in mid-February. Don’t worry, my colleagues will be filling in during my 12 week absence. I do ask that if you have been holding any questions or ideas you’d like to flesh out, reach out as soon as possible. When I’m gone, my fellow staff will be focusing on maintaining processing of your bills, invoices and grants but additional services may be limited. Below is a reminder of the SMIF development team that you can reach out to in my absence:
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VP of External Relations – Jennifer managed the affiliate program in the past and can help with general questions.
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Accounting Manager – Bonita is your go to for financial questions concerning your fund.
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Communications and Development Coordinator – Grace is managing those funds that have websites under SMIF’s umbrella.
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Development Associate – Abbie can connect you with the correct staff to help with any of your needs.
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As always, please make sure your fellow board members are receiving and reading this newsletter. This is our primary form of communication with all the affiliate fund program board members. I hope each and every one of you have a wonderful holiday season!
Community Philanthropy Director
507-214-7023
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Bill and Grant Processing Procedure Update
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As SMIF’s affiliate fund portfolio grows, we are constantly trying to improve our processes and procedures. One area we can use your help on is making our bill and grant processing more efficient. Moving forward we will be requiring the below processes:
- Please include a section at the bottom of your minutes titled Action Items for SMIF. This section should include organizations and amounts for any financial transactions. The transactions still must be approved within the minutes. Please see this example from the Spring Valley Area Community Foundation for clarification.
- Action items for SMIF include: Bills, grants, fund transfers, new fund requests
- Please submit supporting documents with minutes. Even if the minutes get sent to me prior to supporting documents, such as receipts or grant applications, I still need the minutes to be included again with supporting documents. We require all to be submitted at the same time to move forward with processing. Be sure to include a complete address for each request.
- When submitting email votes, please include a completed chain with a majority of the board approving and a copy of the grant or bill. Send the final list of votes in one email, not forwarding each response. If you need help with this don’t hesitate to reach out.
- Payment requests must be submitted by the 10th and 25th of the month to be included in the upcoming check cycle. If you submit any bills or grants after these dates, the checks will be printed in the subsequent cycle.
- Financials will be provided quarterly. Any intermediate updates are the responsibility of the local treasurer. You can access your statements on the fund portal. If you need login information let me know.
I hope you will help us streamline our processes moving forward. These policies are to protect you and your fund as much as SMIF. As we process thousands of transactions each year, we appreciate your help in making sure we have the needed information to get the dollars released as well as ensure we have board majority approving. Feel free to reach out if you have any questions or concerns.
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Fee Structure Change Reminder
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This is the same information included in the last newsletter, but it will go into effect this January. Please let me know if you have any remaining concerns or questions.
Starting January 1, 2020 any NEW fund under SMIF’s umbrella, including those housed under a community foundation, will receive an administrative fee. If the fund is endowed, the fee will be 0.72% investment fee and 0.50% administrative fee. If the fund is not endowed, the administrative fee will be 1.0%.
We will not be charging current project funds under community foundations. They will be grandfathered in with no fee. However, if the fund is set up as a sub-fund or donor-advised fund, there will be a fee as outlined above. Please reach out if you have any questions on the structure of funds under the community foundation umbrella.
The fee structure for the affiliate fund program is changing to allow SMIF to continue to support small communities in capturing their philanthropic dollars. In fact, each community foundation receives at least $5,000 in services each year. By adding fees to some fund types, we can continue to offer services to our community foundations without charge. The new fees are minimal in comparison to other organizations and small funds are administratively heavy on SMIF staff. Please feel free to reach out with any questions.
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Give to the Max Day is almost here again! This is a wonderful opportunity for your community to come together and think about philanthropy.
We will be offering the same options as last year. SMIF will pay for all transactions fees for donations made through your SMIF donation page. You also have the option to have a goal tracker bar and dollar-for-dollar matching gift tracking bar. I will need the below from you
by November 7, 2019:
• Total goal for the day
• Total amount of matching gifts (SMIF can only track dollar-for-dollar matches)
• Any changes to logo or text on the SMIF-provided donation page. If you are not sure how to find your donation page please let me know.
SMIF's donation page also has the capability to allow us to input additional dollar amounts into the tracking bar. This means you have the capability to accept checks on Give to the Max Day.
If you want to do this, please email
Tom Gebur
the total amount of checks received for the entire day at the below times on November 14:
If Tom doesn't receive an email at those times, he will assume you did not receive any checks. Again, you do not have to accept checks if you don't want to. Please let me know if you have any questions.
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SMIF is getting a new website! This means that the links to your donation pages will be changing. Please be thinking about where you have that link currently (social media, your website, chamber website, etc.) and make a plan to update them. Be on the lookout for a separate email the day of the launch with the donation page links. But don't worry, this won't happen until AFTER Give to the Max Day.
Also, if you have a website under SMIF's umbrella, Grace McClintock will be reaching out to you as she works on transferring them to the new site. Your URL will not change, but the website will look a bit different.
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SMIF’s Taking the Initiative Quarterly Newsletter
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Starting in January 2020, SMIF will be mailing our quarterly newsletter, Taking the Initiative, to donors who have given $500 or more annually for the past five years to one of our affiliate funds. Our intention is to let the donors know what your fiscal host is doing in their community and across the region. The first issue sent in January will come with a note explaining who we are and why they are receiving the information.
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Yearend Fundraising – What is your organization doing?
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Did you know that 30% of all annual charitable giving takes place in December? It’s a great idea to send out an email or letter during the last couple months of the year. Or both! Repetition of your message is key to get people to understand the importance of your organization. Also, try calling those who gave last year and haven’t yet in 2019. Maybe a personal touch is all that’s needed to help them make their decision to support your organization.
Did you know that the national donor retention average is only 45%? That means on average, only 45% of those who supported you last year will support you this year, unless you make a concerted effort. At SMIF, our retention rate is over 70% because we develop relationships with our donors. We keep in touch, let them know the impact their dollars are having.
Did you know that the average recurring donor gives 42% more than one-time donors? It’s far easier to keep donors giving year after year then procure new donors to support your mission. Of course you do need a mix of both, but focusing on those who have shown support in the past will pay off!
Happy yearend fundraising!
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Fundraising – it’s about more than cash
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Did you know only 1% of wealth nationally is held in cash? If you are only asking for cash gifts, you may be missing out on a larger opportunity to gain support for your organization.
One easy tool you can promote in your community is the
Qualified Charitable Distribution for those 70 ½ and older to give from their IRA. They are required to take a distribution at that age, but many may not need the dollars. If the distribution is given to charity, no taxes are paid. This is a win win for the donor and the charity!
Here is more information on IRA Rollovers. Feel free to distribute to your community.
Another way your supporters can give to your organization is by naming the fund in their estate plans. This is easier than you’d think.
In fact, nine out of ten planned gifts are bequests. Many people don’t think they have the means to leave a gift, but with a majority of assets being held in real estate and equities, a planned gift is achievable for most people. Also, promoting having a will or estate plan is a service to provide to your community. Only 60% of Americans have a plan in place.
Here is a planning tool SMIF can provide branded with your information to help get the word out in your community.
If you happen to know of anyone who has left your organization a planned gift, please let us now. We have a monthly newsletter that goes out to SMIF Legacy Club members (those who have named SMIF in their estate plans). We would be happy to extend this service to your donors as well. We only need their email address and name.
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Community Foundation Matching Program Update
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Fiscal Year 20 Matches
Endowment Match
for community foundations with endowments under $100,000: $15,461 remaining
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Did you know SMIF is a donor supported organization? We can offer these matches and support your fund with technical and administrative assistance because donors see the value in the services we provide to our communities. We believe in equipping and empowering communities to make change at home. If you share this passion as well, I hope you will consider making a
personal contribution
to SMIF to help us continue this essential program focused on keeping our communities vital.
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SMIF and Huisman Family Fund provides loan to Heartland Retreat & Rental Hall
ELMORE, Minn., October 29, 2019 – Southern Minnesota Initiative Foundation (SMIF), in partnership with the Huisman Family Donor Advised Fund, recently approved funding from its Small Enterprise Loan Fund to Heartland Retreat & Rental Hall in Elmore for working capital. Additional financing partners include First Bank Blue Earth and the Faribault County Economic Development Authority.
The Heartland Retreat & Rental Hall is a new business owned by Lissia Laehn. An avid quilter, Laehn was inspired to open her own retreat center after attending many quilting and crafting retreats. Laehn has repurposed an empty church in town into an event facility for this purpose. The retreat portion, which is inclusive of the entire facility, sleeps 18 and accommodates crafters with a large workroom and kitchen. The rental portion, which is on the main floor, is available for events including showers, parties, reunions and holiday gatherings with accommodations for up to 150 people. The loan was used for working capital.
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FEAST! Tradeshow and Marketplace
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December 6 - 7
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Rochester
Local food vendors will be in Rochester showing off their amazing products! The festival is open for the public to enjoy on December 7.
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As the holidays approach and people are in the giving spirit, yearend is a great time to post asks along with impact stories on your Facebook page. What have you supported during 2019? Highlight those projects and how they are impacting your community. It is important we stay top of mind during this busy season!
Tell a story! Include a quote and photo of someone you have impacted. This makes it more personal and allows donors to connect with your mission.
What are you grateful for? Post about things your board members are thankful for that relate to the work you do. (i.e. "I'm thankful for the many amazing people in our area that work to make our community strong.")
A look back on 2019... Write about the top ten things that happened over the last year. This could be grants, events or something that happened in your community.
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Recent Community Foundation Grants
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- Blue Earth Community Foundation – New Slide at Community Pool
- Community Foundation of Ellendale – Community Center Kitchen Renovation
- Henderson Community Foundation – Santa’s Helpers Support, Community Festival Support
- Lanesboro Area Community Foundation – Winter Concert Series, Educational Skunk Enclosure
- Maple River AAA Foundation – School Field Trip Support and Musical Instrument Repair
- Rushford Community Foundation - Scholarships
- St. James Area Community Foundation – Community Education Childcare Program Expansion
- Wabasha-Kellogg Area Community Foundation – City Tree Replacement Program support and Community Space Sound System
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Support Southern Minnesota's Future
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SMIF's
Love Where You Live
campaign will strengthen our region’s future. Won’t you join us in creating vibrant communities where more than 581,000 people call home?
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