About Our Foundation

THCF Updates
from President & CEO

Here's What's on Phil's Mind

THCF Updates from President & CEO

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Here's What's on Phil's Mind


Has spring truly sprung? No matter the weather, it is tax season and April 15 is just around the corner. Most of you have probably already filed your taxes for 2018 and you may have found that with the new higher standard deduction you could not itemize your deductions for the first time in many years. Now is the best time to start planning for next year's taxes and a Donor Advised Fund may be the tax-advantaged planning tool you need ensure you minimize your 2019 taxes and maximize your giving.

There is a hint of spring in the air at your Community Foundation as we gear up for our annual grants cycle. Last year, we awarded more than $347,000 through 63 grants to nonprofits serving our community and a similar amount will be awarded this year.

It’s scholarship season at your Community Foundation! Students across the area have been busy applying to the more than 90 scholarships available at Truman Heartland Community Foundation. Thanks to our generous scholarship fund holders there’s more than $200,000 available for students this year. These donors are passionate about education and know the transformative impact that their financial support can have on a student’s success.

We hope you had a holiday season full of family and friends! It’s too early to get statistics on total charitable giving in 2018, however, I still stand by the prediction I made in January 2018 and believe that compared to 2017, charitable giving will be up. Here at your Community Foundation, we saw very strong contributions and had a record year with total contributions exceeding $7 million.

This holiday season, we are reflecting on the many reasons we at Truman Heartland Community Foundation have to be thankful and the ways we can help our donors make an impact on our community through their charitable giving.

October has certainly been a volatile time in the stock market. However, some market pundits say what we are experiencing now is more normal that what we experienced in 2017, when there was no volatility. One of the tools that your Community Foundation has that addresses volatility and ensures more stable funding is a spending policy for our endowed funds. Most spending policies compute the amount using an average balance over several years to factor in the ups and downs of the investment market. So for example, our current spending policy is 5% of the average balance of the fund at year end over the last 3 years.

At our Toast to our Town Gala on Saturday evening I had the opportunity to share for the first time some exciting news about the future work of your Community Foundation in the area of community initiatives.

I am pleased to report that our Boomers Get Connected initiative is making great progress in Eastern Jackson County.

I am constantly amazed by the progress that can be made when groups of like minded individuals come together for a common goal.

My experience with charitable giving throughout my 35-year career in philanthropy is that people are not giving just to get a tax deduction. They are giving from the heart because they are passionate about their community.

For the last 36 years, Truman Heartland Community Foundation has given donors with a passion for education the opportunity to support the students in our area. Many of our community’s citizens have taken the step to invest in education by creating a Scholarship Fund through their Community Foundation, which allows them to award scholarships to students who they believe to be most deserving.

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