For Immediate Release
Contact:
Heidi Williamson, 610.685.2223
heidiw@bccf.org

Reading (November 29) - Lancaster residents Ann and Bill Carter established the "Mary Kolakowski Fund for St. Catherine of Siena Roman Catholic School" through Berks County Community Foundation, naming it after Ann's sister, Mary, who has dedicated her life to the school, which is located on Perkiomen Avenue in Mt. Penn. According to Mrs. Carter, the fund was priceless in providing a legacy to her sister while helping the school they both attended as children.

As the year-end giving season approaches, community foundations throughout the country are providing a variety of opportunities for donors to give to their favorite causes, on their own timetables and in their own unique and effective ways. Designated Funds, like the one set up to honor Mary, allow donors to create a legacy at an organization that is important to them. Grants will be made to St. Catherine's annually for projects, scholarships, or for purposes that the school principal believes benefit students.

Donor Advised Funds
Donor-advised funds are another popular choice for community-minded individuals and families. Through donor-advised funds, philanthropists work through Berks County Community Foundation to suggest grants from their fund.

Creating a donor-advised fund is simple: an individual or a corporation makes an irrevocable contribution to the Community Foundation and receives an immediate tax deduction. If the fund is established before December 31, the donor can take the tax deduction - up to 50 percent of adjusted gross income for cash gifts and 30 percent for appreciated property, such as stock - on the current year's tax return.

The money in the fund is then invested and managed by the Community Foundation. Donations from the fund are disbursed to charitable organizations over a period of months or years based on the recommendations from the donors. Once their accounts are set up, donors can make additional contributions to the fund.

"Community foundations offer donors a reliable and professional network for giving locally or nationally," said Dorothy S. Ridings, President and CEO of the Council on Foundations. "The biggest advantage of donating through community foundations is that they know and live in the communities they serve."

Undesignated Funds
Berks County Community Foundation use donations to Undesignated Funds, such as the Fund for Berks County, to make grants that address the county's most critical needs and create a lasting benefit to the quality of life of the residents of the county. For example, last year the Community Foundation used Undesignated Funds to make a grant to CONCERN to improve adoption rates for children in foster care. A grant to Crime Alert Berks County encouraged civilian reporting of crime. And grants from Undesignated Funds provided funding for Goodwill Industries Wheels 4 Work program, where working welfare recipients receive donated vehicles or get help to secure low-interest vehicle loans to ensure consistent transportation to and from work.

"One of the greatest benefits to donors who choose to give to an Undesignated Fund at the Community Foundation is that they know they are tending to Berks County's most pressing needs, now and in the future," says Kevin K. Murphy, president of Berks County Community Foundation.