KLA Meets at Community Foundation
July 28, 2016 at 4:25 p.m.
By Staff Report-
Guest speakers were Suzie Light, executive director, Kosciusko County Community Foundation; Peggy Michel, vice president and trust officer, Lake City Bank Wealth Management Division; and Rich Haddad, executive director, K21 Health Foundation.
Light explained that philanthropy is time, talent and treasure given for the benefit of another. A man in Ohio started the first community foundation to allow everyone the opportunity to be a philanthropist, not only the wealthiest individuals. Today, the Kosciusko County Community Foundation has grown from 13 scholarship funds to more than 271 endowed funds with more than $50 million in assets. Donors come in all ages and abilities. Gifts don’t have to be sizeable to make a difference.
Haddad shared that if you wish to make a one-time donation, then a direct gift would be a good option. If you want to support and help over time, an endowment might be a better vehicle. Giving will alter your life and your view of life. When you give, you are modeling giving for others and for your children. He suggested everyone begin giving today. Haddad then explained the differences between a private foundation (K21) and a community foundation. Over the past 12 years, more than $25 million has been granted by the K21 Health Foundation. More than $70 million is available for the future.
Michel explained that leaving a legacy starts with estate planning. Everyone that owns anything needs to have an estate plan, which includes a will. Seventy percent of people die without an estate plan. This can create difficulties for the family members left behind, especially when there are minor children left. Estate planning allows an individual to make their wishes for their estate known and carried out after they have passed on.
KLA is a not-for-profit organization devoted to serving Kosciusko County by encouraging leaders and future leaders to dream and create a better community through white paper projects.
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Guest speakers were Suzie Light, executive director, Kosciusko County Community Foundation; Peggy Michel, vice president and trust officer, Lake City Bank Wealth Management Division; and Rich Haddad, executive director, K21 Health Foundation.
Light explained that philanthropy is time, talent and treasure given for the benefit of another. A man in Ohio started the first community foundation to allow everyone the opportunity to be a philanthropist, not only the wealthiest individuals. Today, the Kosciusko County Community Foundation has grown from 13 scholarship funds to more than 271 endowed funds with more than $50 million in assets. Donors come in all ages and abilities. Gifts don’t have to be sizeable to make a difference.
Haddad shared that if you wish to make a one-time donation, then a direct gift would be a good option. If you want to support and help over time, an endowment might be a better vehicle. Giving will alter your life and your view of life. When you give, you are modeling giving for others and for your children. He suggested everyone begin giving today. Haddad then explained the differences between a private foundation (K21) and a community foundation. Over the past 12 years, more than $25 million has been granted by the K21 Health Foundation. More than $70 million is available for the future.
Michel explained that leaving a legacy starts with estate planning. Everyone that owns anything needs to have an estate plan, which includes a will. Seventy percent of people die without an estate plan. This can create difficulties for the family members left behind, especially when there are minor children left. Estate planning allows an individual to make their wishes for their estate known and carried out after they have passed on.
KLA is a not-for-profit organization devoted to serving Kosciusko County by encouraging leaders and future leaders to dream and create a better community through white paper projects.
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