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Community Matters newsletter
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C O M M U N I T Y
MATTERSFoundation Receives $6 Million Gift from
the Estate of Charles H. Babcock, Jr.
THE WINSTON-SALEM FOUNDATION C o m m u n i t y N e w s l e t t e r | Fe b r u a r y 2 0 0 7
THE MARY REYNOLDS BABCOCK FOUNDATIONannounced in October that approximately $24 million from
the estate of Charles H. Babcock, Jr. will go to three commu-
nity organizations that match his life-long interests. They are
The Winston-Salem Foundation, Reynolda House Museum of
American Art, and the Mary Reynolds Babcock Foundation.
“This distribution of Charles’ estate reflects his life-long
interests in his family home at Reynolda House, his communi-
ty through The Winston-Salem Foundation, and the family
foundation, the Mary Reynolds Babcock Foundation,” said
Gayle Williams, executive director of the Babcock Foundation.
The Babcock Foundation’s mission is to address the root causes
of poverty and help move people and places out of poverty
across the Southeastern United States. Approximately $12
million will be added to the Babcock Foundation.
Two endowment funds totaling $6 million were estab-
lished at The Winston-Salem Foundation. One is an unre-
stricted fund which will be used to support general changing
needs of the community. The second is a field of interest fund
which will support arts and culture in the community. The arts
were a passion of Mr. Babcock’s and his charitable legacy
reflects this.
“We knew that by creating an unrestricted fund and a
field of interest fund at The Winston-Salem Foundation,
Charles’ interests would be supported,” noted Ms. Williams.
These funds give The Winston-Salem Foundation the oppor-
tunity to respond to changing community needs that ultimate-
ly impact the lives of everyone in our community. We trust the
community foundation to be a good steward of these funds
long into the future.”
“This extremely generous bequest will create two endow-
ments that will allow our board to respond to the community
not only next year, but into the future,” said Scott Wierman,
president of The Winston-Salem Foundation. “We know that
there will be interest from nonprofits that want to access these
funds. Nonprofits can access Foundation grant funding
through our regular competitive grant process which can be
found on the Foundation’s website at www.wsfoundation.org.”
FOUNDATION LAUNCHING E-NEWSLETTER
BE SURE YOU ARE INCLUDED IN THE
FOUNDATION’S NEW E-NEWSLETTER
MAILING LIST. WE WILL BE SENDING OUT
IMPORTANT UPDATES FOR THE COMMUNITY,
FOUNDATION HAPPENINGS, AND LEGISLA-
TION AND EVENTS THAT COULD IMPACT
YOUR CHARITABLE GIVING.
CALL US AT 336-725-2382 OR GO ONLINE
TO SIGN-UP FOR THIS NEW SERVICE AT
WWW.WSFOUNDATION.ORG.
STARTING NOVEMBER 1 the Foundation began using a
new application process for proposals for competitive grants. The
Foundation has adjusted its process in an effort to be more acces-
sible to the nonprofit community and to streamline the amount
of time nonprofits invest in their grant applications.
Nonprofits may submit a Preliminary Application on the
first of any month. The Preliminary Application includes general
information about the applying organization and proposed grant.
Nonprofits will be notified within 30 days as to whether or not
their Preliminary Application qualifies them to submit a full
application.
To learn more about how to apply for a competitive grant
from the Foundation, go to www.wsfoundation.org and click on
“grant seekers.”
NEW GRANT APPLICATION PROCESS FOR NONPROFITS
SANDRA FISHEL-BOOTH joined The
Winston-Salem Foundation as a program
officer on November 27. In her position as
program officer, she will become familiar
with issues relevant to the local nonprofit
community and review grant proposals to
be considered by The Winston-Salem
Foundation Committee. She will keep informed on communi-
ty issues and organizations by attending meetings, consulting
with prospective grantees and assisting nonprofit organizations
in their interactions with The Winston-Salem Foundation.
Fishel-Booth most recently served as program manager for
the National Urban League in New York City where she gained
extensive experience in grants management, community and
economic development, and organizational strategic planning.
She also worked with the Neighborhood Development
Corporation as business development coordinator.
Fishel-Booth holds a Bachelor of Arts in English from
Syracuse University and a Masters degree in Urban Policy
Analysis and Management from The New School in
Manhattan. She, her husband, and two children recently
relocated to Advance, NC.
Foundation WelcomesNew Program Officer
SEEKING NOMINATIONS
THE WINSTON-SALEM FOUNDATION AWARD
THE WINSTON-SALEM FOUNDATION AWARD IS THE
FOUNDATION’S HIGHEST HONOR GIVEN TO THOSE WHO HAVE
DEMONSTRATED VISIONARY LEADERSHIP AS THEY HAVE
WORKED TO IMPROVE THE QUALITY OF LIFE FOR ALL INDIVIDU-
ALS IN OUR GREATER COMMUNITY. THE AWARD COMES WITH
A $10,000 GRANT TO A NONPROFIT SELECTED BY THE WINNER.
DEADLINE: FEBRUARY 13, 2007
TO LEARN MORE OR TO MAKE A NOMINATION, GO TO
WWW.WSFOUNDATION.ORG
ECHO AWARDS
THE WINSTON-SALEM FOUNDATION AND THE ECHO COUNCIL ARE
ACCEPTING NOMINATIONS FOR THE 2007 ECHO AWARDS. THESE
AWARDS HONOR PEOPLE AND INFORMAL GROUPS WHO ARE
BUILDING SOCIAL CAPITAL. WE HOPE TO RECOGNIZE THOSE
PEOPLE WHO PERSONIFY THE ECHO LOGO OF BUILDING A
STRONGER COMMUNITY BY BUILDING CONNECTIONS AMONG
PEOPLE.
DEADLINE: MARCH 16, 2007
TO LEARN MORE OR TO SUBMIT A NOMINATION, GO TO
WWW.WSFOUNDATION.ORG
NOW ACCEPTING STUDENT AID APPLICATIONS
THE FOUNDATION IS NOW ACCEPTING NEED-BASED GRANT, SCHOLARSHIP AND LOAN APPLICATIONS FOR COLLEGE STUDENTS FOR THE
2007/2008 ACADEMIC YEAR. FOR MORE INFORMATION ON DEADLINES, PROCESSES, AND APPLICATIONS, PLEASE GO TO
WWW.WSFOUNDATION.ORG AND CLICK ON “STUDENTS”
C O M M U N I T Y M AT T E R S [ 2 – 3 ]
PEOPLE GOING TO THE MOVIES in the 1920s had to
wait during each show while a projectionist changed film reels
by hand. In Portsmouth, Virginia, audiences enjoyed a sepa-
rate performance during this technical intermission thanks to
the accomplished musical talent of a confident child who
would take the stage and play his violin for a few minutes.
This child was Milton Goldberg.
Born in New Jersey, growing up in Virginia and finally mov-
ing to North Carolina in 1938, Milton brought with him to
Winston-Salem his wife, Vera, and a
well-developed love of the arts. Jobs
were scarce as the Depression was taking
its toll on the country, but Milton
found work as a smelter for Douglas
Battery and eventually started his own
metal alloy company. Always an advo-
cate of spirited entertainment — not to
mention an enthusiastic performer him-
self — Milton later confirmed his com-
mitment to the arts by giving his busi-
ness property to the North Carolina
School of the Arts to be used as a prop-
shop and costume storage building.
But this wasn’t Milton and Vera
Goldberg’s only generous contribution
to the landscape of Winston-Salem. In fact, one successful out-
come of their philanthropic natures would materialize after their
deaths, coming as a $10,000 grant to the Cinema Society
through the unrestricted endowment of the Vera Goldberg
Memorial Fund. This creative gift to the community, made possi-
ble by the Goldberg’s willingness to trust The Winston-Salem
Foundation with an unrestricted financial donation, affords peo-
ple in Winston-Salem an opportunity to enjoy unique and social-
ly provocative films. Many of the films are shown in the magnifi-
cent Stevens Center, where the Cinema Society — in collabora-
tion with the North Carolina School of the Arts School of
Filmmaking — holds its Films on Fourth series. Ask 81-year-old
Lorraine Shearer, a local citizen who depends on the Cinema
Society for artistic suste-
nance, about the emo-
tional impact of these
cinematic offerings and
her face lights up: “After
seeing some of these
films, it makes me want
to become a pioneer of
reform!”
All this is thanks to
the enriching possibili-
ties of unrestricted giv-
ing and the generous,
socially-responsible spir-
its of Vera and Milton
Goldberg, whose posi-
tive impact on the community came in the form of a city project
they couldn’t even imagine but which is poignantly consistent
with their creative, open-hearted lives.
The Power of Unrestricted Giving
MILTON AND VERA GOLDBERG’S UNRESTRICTED FUND ENABLES
THE FOUNDATION TO MEET CHANGING COMMUNITY NEEDS
THROUGH COMPETITIVE GRANTS TO NONPROFITS.
“After seeing some of these films,it makes me want to become a pioneer of reform!”
— LORRAINE SHEARER
THE WINSTON-SALEM FOUNDATION and Womble
Carlyle Sandridge & Rice, PLLC, sponsored an informational
program for charitable organizations on the new opportunities
and new rules for charitable giving contained in the Pension
Protection Act of 2006 (the “Act”).
The best new opportunity allows a donor who is age
70-1/2 or older to make a direct distribution from an
Individual Retirement Account (IRA) to a charitable organiza-
tion. Such a gift can be made to any public charity, including
the Foundation. Gifts to the Foundation can be made to the
Community Fund, the Women’s Fund, scholarship funds and
many other funds. The new IRS rules do not permit a direct
distribution to a donor advised fund, but a donor can make a
restricted gift from an IRA for a particular purpose as long as
the donor does not retain the right to give advice. Such a direct
gift of up to $100,000 in 2007 can be counted as part of the
required minimum distribution from the IRA.
The Act defines a donor advised fund to be a fund (i)
identified by the contributions of a donor or donors, (ii) owned
by a public charity and (iii) with respect to which the donor
expects to have advisory privileges for distributions or invest-
ments. The new rules provide that donors, donor advisors and
family members may not receive any benefit from grants made
from a donor advised fund
Under the new IRS rules, the Foundation may not make
donor advised grants that give the donor/advisor benefits in any
form. Thus, requests such as the following can not be paid from
a donor advised fund.
> Athletic booster clubs when a gift entitles the donor to
purchase tickets at a special rate, time, or location
> Alumni Associations when donors are entitled to sport-
ing events, performances, parking, etc.
> Special events or named society memberships when a gift
entitles the donor or their guests to attend the event or receive
benefits of value in return
> Pledges to fulfill personal commitments
Previously, donors have been allowed to cover the benefit
portion of the gifts of the type listed above with a personal
check while the charitable portion was paid from a donor
advised fund. However, this is no longer allowed, because the
IRS interprets the use of the charitable dollars in permitting the
donor’s participation as a benefit to the donor. Under the new
rules, grants may still be recommended to charitable organiza-
tions sponsoring fund raising events if all associated benefits are
declined. Or, a grant from a donor advised fund may be recom-
mended as a contribution with the donor purchasing a separate
ticket for the event. Such an option is available only if tickets
are offered separately from sponsorships. Failure to follow these
rules may result in penalties to the donor and to the
Foundation.
The Act is the result of increased scrutiny by Congress of
charitable giving practices in the nonprofit sector. Some oppor-
tunities are targeted to specific types of charitable gifts and some
of the rules are targeted to isolated abuses that have been report-
ed in the press. The Foundation has always maintained the high-
est standards of integrity, conduct, and ethics. However, as with
other charities across the country, the Foundation will adjust its
practices to comply with the new rules.
RANLET (RAN) S. BELL IS
A MEMBER OF THE TAX
SECTION AT WOMBLE
CARLYLE AND FOCUSES
HER WORK ON CHARITA-
BLE GIVING AND TAX
EXEMPT ORGANIZATIONS.
EDWARD W. GRIGGS IS A MEMBER OF THE TRUSTS & ESTATES
SECTION AT WOMBLE CARLYLE AND FOCUSES HIS WORK ON ESTATE
PLANNING, CHARITABLE GIVING AND TAX EXEMPT ORGANIZATIONS.
IF YOU HAVE SPECIFIC QUESTIONS ABOUT YOUR DONOR ADVISED
FUND, PLEASE CONTACT A MEMBER OF THE PHILANTHROPIC
SERVICES TEAM AT THE FOUNDATION.
CHARITABLE GIVING: NEW OPPORTUNITIES AND NEW RULES
C O M M U N I T Y M AT T E R S [ 4 – 5 ]
Families that Give Together: Realizing the Benefits of Family Philanthropy
TRACY GARY, author of Inspired Philanthropy, is no stranger
to the challenges and rewards of raising charitable kids. When
Gary was old enough to earn an allowance, her parents gave
her 25 cents a week in the form of five nickels — three to
spend, save, and invest, respectively; one to lend; and one to
give away. By emphasizing charity early, says Gary, her parents
instilled her with a love of philanthropy.
It stuck with her: Gary went on to launch seventeen non-
profits, including the Women’s Foundation of San Francisco,
the oldest and largest philanthropic fund for women in the
Western United States. A preeminent donor activist and phil-
anthropic adviser, she has dedicated her life to helping families
embrace charitable giving as a way of life. Gary’s message: fam-
ilies who give together can magnify, exponentially, the diverse
benefits of philanthropy.
PASSING VALUES TO THE NEXT GENERATIONMost Americans recognize the value of family giving.
According to the 2000 Cone/Roper Raising Charitable
Children Survey, 85 percent of the respondents said they
believe children should be introduced to philanthropy — and
that parents play a key role in getting kids involved. Fully 96
percent agreed that parents’ charitable giving and volunteer
activities are good ways to teach children about helping others.
Family philanthropy provides a focal point for parents to
transmit their values. By engaging several generations, children
have an opportunity to learn from an early age that giving
back to their communities is an important endeavor. Giving
also offers the opportunity to create a family legacy, ensuring
that important values extend beyond parents’ lifetimes.
Gary advises families to begin their charitable giving pro-
grams with the creation of a mission statement and a discus-
sion of family values. She recommends that every member of
the family participate by listing the issues they hold dear, such
as peace, compassion, or equality, and specific areas of interest,
such as humanitarian aid, soup kitchens, or civil rights. Areas
of focus for family philanthropy often emerge from discussions
about the values that family members share, or the values that
decision leaders such as parents or grandparents may hold in
special favor.
ENGAGING KIDS IN GIVING Family philanthropy can be conducted in a variety of ways,
leveraging many types of charitable vehicles. The popular alter-
natives include family foundations, donor-advised funds, and
family giving circles in which members make a collective deci-
sion on how to direct charitable dollars. “It’s rare that you’ll
find a family that only gives through a single foundation,” says
Deborah Brody Hamilton, director of the National Center for
Family Philanthropy. “If they have one, it’s usually a sign that
they’re giving in all sorts of ways.”
Tracy Gary cites the example of one family that gives away
$250,000 annually. The parents make gifts of $100,000 to
CONTINUES ON BACK PAGE
AN ESTIMATED $3.6 TRILLION is currently invested
in IRAs, and the total continues to grow. For the first time,
IRA owners can give a portion of their retirement savings directly
to charity without first counting it as income and paying
income tax.
For larger estates, a good portion of IRA wealth goes to
estate and income taxes of beneficiaries. Experts estimate heirs
will receive less than 25% of most IRA assets that pass through
estates.
In 2006 and 2007, holders of traditional and Roth IRAs
who are at least 70-1/2 years old can make direct charitable trans-
fers of up to $100,000 per year per taxpayer. As a qualified public
charity, The Winston-Salem Foundation can help you execute
the transfers to an existing fund or to create a new one. Unfortu-
nately, the law does not allow charitable rollovers to Donor-
Advised Funds. You may choose to establish or contribute to an
Unrestricted, Field of Interest, Designated or Scholarship fund.
This is the opportunity of a lifetime to make the gift of a
lifetime. Learn more at www.wsfoundation.org or have your
advisor call us at (336) 725-2382.
NEW GIVING OPPORTUNITY: THE IRA CHARITABLE ROLLOVER
THE FOUNDATION HOSTED ITS ANNUAL Legacy
Society Dinner on October 4, 2006 at SciWorks. The Legacy
Society is comprised of people who have already made gifts
of $10,000 or more to endowed funds at the Foundation,
and people who have included gifts to endowed funds at the
Foundation in their wills or estate plans.
“We see this as an opportunity to thank community
members for investing in the Foundation, and in the commu-
nity’s future,” noted Annette Lynch the Foundation’s vice presi-
dent of philanthropic services. “For the last few years, our
Legacy Society members have
heard stories directly from people
who have benefited from compet-
itive grants from endowed funds.”
This year, a family whose son
attends Applied Behavioral
Analysis Center shared their
touching story. The center
received a grant from the
Foundation which enabled them
to provide a fulltime psychologist
position to better serve their stu-
dents. Two women who partici-
pate in the “El Nido” program of
YMCA Community Outreach
Services shared how learning to
speak English has helped them
connect with their children’s schools and be engaged in their
children’s education. “El Nido” received a grant for staff and
materials to teach ESL and literacy classes to parents and chil-
dren. Finally, a student shared how receiving a scholarship
from the Foundation has enabled him to pursue his college
education at Wake Forest University.
If you are interested in learning more or becoming a part
of the Legacy Society, please contact Annette Lynch at (336)
725-2382 or e-mail [email protected].
Dinner Brings Together Current and Future Donors
ABOVE: SKIP AND MELINDA BROWN,
CHANDRA AND NAT IRVIN
RIGHT: SKIP WANDERS, LINA WANDERS,
FRANK DRISCOLL, CARMEN ROSSITCH,
GENE ROSSITCH
THE FOUNDATION IS grateful to those donor advisors who
have become Grantmaking Partners by funding portions of or
entire grants made by the Foundation through the competitive
grants process. Because these individuals chose to partner with the
Foundation, an additional $98,600 was awarded in grants to local
nonprofits.
We, along with a grateful nonprofit community, thank the
following 2006 Grantmaking Partners for their commitment to
expanding the Foundation’s grantmaking capacity:
> Elwood & Helen Clinard > Deborah Marshall
> Jane Craven > Mr. & Mrs. Lucian H. Neal
> Louis & Marcia Gottlieb > John & Marguerite Taylor
> Charlie Hemrick > Karl Yena
> Eugene Heise > Anonymous
If you would like to learn more about how you can partner
with the Foundation in its competitive grantmaking, please
contact Keri Muuss at [email protected]
or (336) 725-2382.
DONOR ADVISORS PARTNER WITH THE WINSTON-SALEM FOUNDATION TO MAKE COMPETITIVE GRANTS
C O M M U N I T Y M AT T E R S [ 6 – 7 ]
IN LATE 2005 the Foundation creat-
ed a strategic plan to lead us to 2012.
We are excited about our plan and
where it will lead us and the communi-
ty in the coming years. Our plan brings
us to a place where we will be able to
serve our community at a higher level.
We hope to grow the Foundation’s assets to $400 million,
maintaining the Foundation’s place as one of the 40 largest
community foundations in the country. We want to be able to
increase our capacity to make competitive grants to the non-
profit community to $6 million annually.
We also intend to grow our community leadership capacity,
not only in the social capital arena, but other areas of concern
for the greater community.
We have been taking steps towards making these goals a
reality:
> The Foundation hired an executive vice president in
2006 to help lead the internal functions of the Foundation.
> The Foundation underwent an organizational assess-
ment which has resulted in the restructuring of our internal
teams. Three teams that regularly interact with the community
have changed their names. As of January 2007, our donor serv-
ices team became the philanthropic services department. Both
development and donor services functions will be housed in
this department. The grants team and student aid team joined
to become the community investment department.
> We are continually working towards growing the
Foundation’s assets and providing the tools that community
members need to help fulfill their charitable intentions. In
2006 the Foundation created a development officer position
who is working to cultivate new donors and develop profes-
sional advisors’ understanding of the services the Foundation
can offer their clients.
We are excited about the opportunities that are ahead of
us and look forward to working with you to help make our
community a better place for everyone.
— SCOTT WIERMAN, PRESIDENT
MOVING TOWARDS OUR GOALS
message from the president
MEMBERS OF THE EXECUTIVE COMMITTEE of the
Women’s Fund of Winston-Salem hoped to have 100 members
when they launched their initiative on November 15 at their
first annual meeting. Those expectations were far exceeded
when they reached 217 members.
“We are overjoyed and overwhelmed by the outpouring of
interest from women in our community,” noted fund chair Janie
Wilson. “It’s clear that women in our community are passionate
about helping other women. We hope to enable their passion to
grow by creating a giving vehicle that connects financial resources,
and enables women to build relationships in the process.”
The Women’s Fund will now begin the process of con-
necting its members to subcommittees, planning its first grant
cycle, and holding educational events for women in the com-
munity. To learn more about the Women’s Fund, visit
www.wsfoundation.org/womensfund or call (336) 725-2382
and speak with Keri Muuss.
WOMEN’S FUND OF WINSTON-SALEM LAUNCHES WITH 217 MEMBERS
FRONT ROW (L TO R) EVELYN TERRY, JANIE WILSON, MARTHA
LOGEMANN, LYNN EISENBERG, CHEVARA ORRIN; SECOND ROW
(L TO R) KERI MUUSS (WSF STAFF), MARY JAMIS, MARGARET
SCALES, SARAH HOLTHOUSER, MICHELLE COOK; DAISY
RODRIGUEZ (NOT PICTURED)
8 6 0 W e s t F i f t h S t r e e t
W i n s t o n - S a l e m , N C 2 7 1 0 1 - 2 5 0 6
Te l e p h o n e 3 3 6 - 7 2 5 - 2 3 8 2
To l l Fr e e 8 6 6 - 2 2 7 - 1 2 0 9
Fa x 3 3 6 - 7 2 7 - 0 5 8 1
w w w . w s f o u n d a t i o n . o r g
Non-Profit Org.
U.S. Postage
PAIDWinston-Salem, NC
Permit No. 406
FAMILY PHILANTHROPY, CONTINUED FROM PAGE 5
support causes that are important to them. Their two adult
children each receive $50,000 to support their own interests
through separate vehicles. The family collectively decides where
to grant the remaining $50,000.
There are many ways to involve younger family members
in philanthropy. Just as Gary received 25 cents to give away,
children can be given small sums of money and guided in
choosing how to donate it. Young children can also be encour-
aged to make donations of clothes, shoes, and toys, and travel
with their parents to deposit the items at a shelter. In addition,
school-age children can be encouraged to volunteer their time.
Teenagers, meanwhile, can be tasked with researching
nonprofits, either as potential grantees or as a place to volun-
teer their time. Some parents give their children an allowance
based on their volunteer hours.
USING OUTSIDE RESOURCES As the amount of charitable gifts and family size increases,
families may find it helpful to establish an advisory committee
— either formally or informally, depending on the giving vehi-
cle they employ — and decide by vote how and when to make
charitable gifts. In some cases, advisors such as lawyers,
accountants, and nonprofit specialists may participate as board
members and help guide philanthropic decision-making. These
third-party experts can provide a wealth of guidance, and keep
the peace when families disagree on giving priorities. “An out-
side facilitator can help a family decide on a mission and keep
it focused on an area where they will be most effective,” says
Gary. Community foundations, she notes, can offer expertise
on local nonprofits, where many family giving programs are
centered. Families can also benefit from the experience of their
peers. “They can speak with other families that have worked
through these issues,” says Deborah Brody Hamilton.
Family philanthropy is a rewarding way to bring change to
communities. With some careful planning, it can also tighten
family bonds, transmit family values to future generations, and
create a lasting family legacy.
— BY COLLETTE PARKER, A FREELANCE WRITER BASED IN
ATLANTA, COPYRIGHT 2003, USED WITH PERMISSION