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IRA Charitable Rollover is Back...Again!
Welcome news...the IRA Charitable Rollover passed...again! On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8), restoring the IRA Charitable Rollover retroactively for 2012 and permitting its use in all of 2013.
What is an IRA charitable rollover? If you are age 70 1/2 or over, you're required to withdraw certain amounts from your IRAs each year; these distributions are considered taxable income to you. If you don't need the cash, you could instead choose to give it (or "roll it over") directly to an eligible charity. The benefit to you is that the amount distributed can be excluded from your gross income for tax purposes.
What is the new expiration date? This provision applies to charitable distributions made before January 1, 2014, so it's good for tax years 2012 and 2013.
How can this be accomplished for 2012 since we're already into 2013? If you took a distribution in December of 2012, you can choose to count it as a rollover for 2012 if you transfer the cash to an eligible charity before February 1, 2013. Or, you can make a distribution now - before February 1, 2013 - and choose to have it treated as a 2012 distribution. Consulting your tax and financial advisors is probably a good idea...
Gifting Options: If you or someone you know could benefit from this provision, we're happy to help! With funds supporting over 100 local organizations, as well as funds that benefit the arts, environment, education, human services, and provide scholarships, there are countless vehicles already in place to receive charitable rollovers in any amount up to the $100,000 per year limit. If you'd like to start a named fund of your own, we're always ready to help with that, too!
Contact Bob Chapla at bchapla@cffmc.org or 231.332.4111 if you'd like to talk about your options.
Details: Read here for the guidelines of the rollover provision.
Calvin College January Series Returns
15 Days of Free Education!
The award-winning January Series of Calvin College is again coming to Downtown Muskegon! From January 3 - 23, 2013, the Frauenthal Center’s Beardsley Theater (427 W. Western Avenue) will be one of 38 remote webcast locations worldwide to broadcast one of the nation’s leading lecture and cultural arts series.
Plan to join us from 12:30 to 1:30pm (bring your lunch if you'd like) each weekday...the lectures are free and open to the public. We're pleased to be hosting this Series for our second year; we're able to because of the gifts of many, including one in gratitude for Richard Charles Ford's commitment to the integrity of persons and of the community.
The 26th-annual January Series will cover a wide range of today’s most relevant topics: improving immigration policy, an insider’s view of the political climate in Washington D.C., the history of the inaugural address (days prior to the 2013 Presidential Inauguration), and the future of farming as the world population is expected to reach nine billion in 2050. For a full list of speakers and topics visit http://www.calvin.edu/january/2013. If you're a reader or part of a book club, check out this book list they've put together!
“Whatever’s happening in the world, we are talking about it,” said Kristi Potter, director of the January Series since 2007. “The speakers we bring in are tops in their field and many of them offer Christian perspectives. Part of Calvin’s mission is to teach us what’s going on in the world and show us how we can affect it. The January Series offers us another platform to do just that."
For more information, contact Heidi Sytsema at 231-332-4107.
Love Your Community Grant Contest Announced
What can you do with $500?
The Community Foundation for Muskegon County wants to know what YOU can do with $500 to make your corner of Muskegon County a little more lovable. So we’re launching another Love Your Community grant contest to find out! (Download the application!)
Inspired by Peter Kageyama’s message encouraging citizens to declare their love for their community, we will award grants to six projects that demonstrate and share the love! Examples of these “love notes” include last year’s winning projects such as Movies on the Beach, a Play It Forward benefit concert for the Snurfer Sculpture, Portraits of White Lake photography class & exhibit, and more. All of these ideas were created by the people, for the people, using $500 to get them going.
Unlike our traditional grants, Love Your Community grants are open to anyone, including individuals and businesses as well as nonprofits. Project ideas must be for the benefit of Muskegon County and its residents, whether for a specific neighborhood or community or the county as a whole; they are not for personal or business benefit.
Submit your idea on this form by emailing it – including your picture/graphic and a 300 character description – to grants@cffmc.org by 5pm on September 21, 2012. On October 1, we’ll post the ideas on Facebook and open up the voting. The six projects that have the most “likes” at noon on Friday, October 12, will receive up to $500 to turn their ideas into reality! The winning applicants will need to provide a more detailed one-page project description and a budget before funds are released. As with all of our grants, decisions are subject to Foundation Board of Trustees’ approval.
Grants are made possible by the CFMC Employee Fund (yes, we practice what we preach!), the Sand Products Corporation Fund, and by the gifts of many others, including one in gratitude for Richard Charles Ford’s commitment to the integrity of persons and of the community.
HEALTHY Muskegon
HEALTHY Muskegon Network Meeting
On Thursday, January 31, we hosted a screening and discussion about Cafeteria Man. The 60 minute documentary shared the story of Tony Geraci’s efforts to revolutionize food service in Baltimore Public Schools. A lively and interesting discussion with area Food Service Directors followed by a sampling of the new school lunch items being served at Reeths Puffer School District’s Pennsylvania Elementary in partnership with Mia & Grace. (They were on TV!) Thanks to all who attended and made this an interesting and thought-provoking event.
Healthy Eating and Access – Local Teams Helping Youth
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Have a great idea to improve access to and demand for healthy food for children and families living in Muskegon and Muskegon Heights? Interested in contributing to a conversation about ways we can get our community and our economy healthier by eating more local food? Join the HEALTHY Muskegon project!
The grant deadline has come and gone for local groups to apply for funds from a three-year W.K. Kellogg Foundation grant. Recipients of portions of the W.K. Kellogg grant received by HEALTHY Muskegon have been announced. View the recipients here.
Missed the grant deadline? Click here for a list of other grant resources.
Interested in getting involved?
Contact Mary (mkotecki@cffmc.org or 231-332-4108) to get updated information about meetings and Learning Journeys, and to get added to the email list. Stay tuned for information!
What has the community shared so far?
On Tuesday, July 31, 2012, 130 concerned residents met to learn about the project, be inspired by successes in other communities, and share their input on the assets in our community, the gaps we need to address, and possible solutions to utilize our assets to fill the gaps. Below are links to what was said:
These are living documents - please send us an email and we will be happy to update them at any time. We will update this page as more details about the project become available. In the meantime, please contact Janelle Mair at 231-332-4116 or jmair@cffmc.org with any questions or comments!
HEALTHY Muskegon Presentations and Media
Here is a link to the presentation given on July 31.Here is a link to who participants told us was missing from the meeting. Know some of these folks? Please help us out and share the information from the meeting with them!
Check out this article on MLive: Kellogg Foundation, Muskegon Community Foundation join to promote healthy eating locally
Grant Deadline August 15
COMMUNITY FOUNDATION ANNOUNCES GRANT OPPORTUNITIES
GRANT APPLICATION DEADLINE: AUGUST 15, 2012
Non-profit charitable organizations serving the Muskegon County region are eligible to apply for a grant from the Community Foundation for Muskegon County. Applications must be submitted online at www.cffmc.org. The grant deadline is Wednesday, August 15 for programs beginning after November 1, however, an Application of Intent Form should be submitted at least two weeks prior to the deadline. The Foundation will consider proposals in the following areas: arts and culture, health and human services, education, environment, emerging community needs, and Muskegon Downtown Development. In addition, the following funds will be awarding grants:
- The Julia Hackley Memorial Fund of the Foundation will consider applications that support the needs of City of Muskegon residents, with priority given to meeting the needs of low-income individuals and families.
- The Greater Muskegon Women and Children’s Fund will consider applications that focus on meeting the needs of Women and Children in Muskegon County.
- The Youth Advisory Council (YAC) of the Foundation will consider applications that address projects and programs that focus on serving Muskegon County youth.
- The Environmental Fund will consider applications that build community capacity, educate, provide environmentally oriented technical assistance, protect and preserve natural resources and clearly relate to the environmental interests and needs of the Muskegon region.
- The Muskegon County Medical Society Fund will accept applications that focus on programs and projects relating to health and science education and related activities.
- The White Lake Community Fund will accept applications for projects in the White Lake area that address the following community needs: social services, environment, civic affairs, education and youth.
For more information applicants are encouraged to call the Foundation office at (231) 722-4538.
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