The Oldham County Community Foundation exists for three reasons: to make it easy for people who want to support and promote Oldham County to contribute to charitable endowment funds that have been set up for just that purpose. We exist to give money away–from the earnings of such funds– to Oldham County 501(c)3 organizations that make Oldham County a great place to live, learn, work and to raise a family. We also exist to be a change leader—to identify community needs and then work with the community to address those needs. Since our founding in 2010, we have provided 64 grants totaling over $120,000 to nonprofits supporting Oldham County. These funds have and will be used to improve our environment, conserve our resources, help humans become healthier and feed, educate, and shelter both humans and animals alike.
We led, for the first time, the discussions and development of a community-wide, collaborative project now known as 21st Century Prevention—Oldham County. We are working now on our second community-wide, collaborative project, following the same model set forth above. You can read more about 21st Century Prevention—Oldham County and our new initiative in our newsletter.
The earnings that we distribute to our grantees come from our endowed funds. And so, with your help, we could do more. If you contribute to a permanent endowment at a qualified community foundation, you may qualify for a state tax credit under the Endow Kentucky Tax Credit program established in 2010. Under this program, Kentucky taxpayers can receive a 20% tax credit, up to $10,000, for monies donated to a community foundation. You can give up to $50,000 to a community foundation—and then deduct up to $10,000 from your Kentucky taxes owed. Yes, there are hoops to jump through—including you must apply for your credit and have approval before making your charitable gift, but our partners at the Community Foundation of Louisville can help guide you through the process. Don’t wait too long – if you are considering a charitable gift that may be eligible for the tax credit complete, sign, and submit an application to Jennifer Fust-Rutherford before June 28, 2019. Kentucky allocates only so much in credits each year; when the credits are used up, then no more credits are available until the next year.
Please consider earmarking a portion of your charitable contributions for the Oldham County Community Foundation. Yes, there are tax reasons to do so. As importantly, though, contributions to community foundations just keep on giving, in perpetuity, making possible projects and initiatives that will benefit our children and our grandchildren and our great grandchildren. Through these contributions, we will continue to be proud of this place we call home. If you’d like to help us—by contributing, by being on the board, by being a part of our community initiatives, we can help you with that! Join us—together, the sky’s the limit.
– JoAnn Heppermann
*The Oldham County Community Foundation is an affiliate of the Community Foundation of Louisville.