News & Event
January 2018 ushered in the most comprehensive tax law change in more than 30 years, and this law has important implications if you plan to make charitable contributions this year or in the future. Here’s a brief rundown to help you give wisely (unless Congress acts before December 31, 2025, these rules will revert back to those in effect in 2017):
If you are unable to itemize your deductions, including charitable contributions, there are several attractive giving options and techniques to consider. Some may let you itemize periodically, keep income off your tax returns or return income to you.
Giving options and techniques to consider include:
DISCLAIMER: This information is compiled from many sources and is not intended as tax, investment, financial planning or legal advice and should not be relied upon as such. For tax, investment, financial planning or legal advice you are encouraged to consult with your personal advisers.
Citation: Avenue, N. (2018). What The New Tax Law Means For Your Charitable Giving. [online] Forbes. Available at: https://www.forbes.com/sites/nextavenue/2018/03/15/what-the-new-tax-law-means-for-your-charitable-giving/#637b4ce14034 [Accessed 1 Jun. 2018].
George Penn was affectionately known throughout the community for his volunteering and commitment for many local organizations. Born in Alexandria, VA, George moved to the Parkersburg area in 1992 where he worked for UPS and Dover Products. A devout Christian, Penn was a United States Marine, a disabled Army veteran, and a member of the Bethel African Methodist Episcopal Church and the Menelik Lodge #74 Free and Accepted Masons. In 2010, George Penn and his wife, Josepha “Chris” Penn, opened the doors to Voices of the Streets – Essentially Yours.
“Essentially Yours was created to fulfill a basic human need that George and I identified in our community,” said Mrs. Chris Penn. “The need to provide the essential home good items required to improve the quality of life for referred families and individuals transitioning from homelessness into a dwelling. Currently, the referring organizations that provide housing and furniture vouchers to homeless individuals do not provide the basic living essentials necessary for establishing a ‘home’.”
After George Penn died on March 1, 2017, an anonymous donor established the Voices of the Streets Endowment Fund in his memory. This permanent support fund becomes one of more than 350 component funds of Parkersburg Area Community Foundation (PACF) and will forever provide monetary support to allow Voices of the Streets – Essentially Yours to continue to serve its mission.
“Through Essentially Yours, we raise our clients’ self-esteem and their desire to do better for themselves,” said Penn. “We are so thankful for this anonymous donor who thinks so highly of what we are doing that he or she has established a permanent source of funding for our cause. We are extremely dependent on charitable donations to continue to provide this important service for our community.”
Persons who wish to honor George Penn and to support the long-term efforts of Voices of the Streets – Essentially Yours are encouraged to make a donation to the Voices of the Streets Endowment Fund online or to mail a gift by check to PACF, PO Box 1762, Parkersburg, WV 26102-1762 (made payable to PACF, memo Essentially Yours).
Auburn, once a bustling community, is a historic town which was first settled in 1834, before West Virginia seceded from Virginia during the American Civil War. Like many other communities throughout the state, Auburn is experiencing a population decline which has affected the monetary support available to the Auburn Community Cemetery Committee. This Cemetery is the final resting place of some of Auburn’s first settlers including the family names of Sommerville, Tharp, Hall and Watson with the earliest known grave being that of a young child, Robert Collins, who died in August, 1842. The Auburn Community Cemetery Committee provides maintenance and upkeep of the Cemetery located within the town limits.
Concerned and forward-thinking individuals with loved ones interred in the Cemetery recently established a permanent charitable fund, the Friends of Auburn Community Cemetery Fund, with the Ritchie County Community Foundation (RCCF), an affiliate of the Parkersburg Area Community Foundation (PACF). The Friends of Auburn Community Cemetery Fund will forever provide an annual monetary distribution to the Cemetery Committee to support the public maintenance and upkeep of the Cemetery. Current members of the Auburn Community Cemetery Committee include Jim Lowther, Dave Crouch and Robert Lowther.
“It is not our intention for this new fund to hinder annual contributions to the Cemetery Committee,” said Bob Sommerville. “My family and some friends started this fund to encourage others to plan for the future of our Cemetery and to provide a long-term option for other concerned citizens to include a donation to the fund through their estate plans and wills, or to use qualified retirement plans and IRA benefits to make a donation. By doing so, they are ensuring that this Cemetery is taken care of long after we have passed.”
“The fund is permanent in nature so that the fund’s principal, which includes all donations to the fund, is never invaded,” said Julie Boyce, PACF’s Development and Communications Officer. “This means the fund will forever invest and issue an annual distribution for the benefit of the Cemetery. PACF’s prudent spending-policy helps to ensure that the fund continues to grow. Annually, the Cemetery Committee spends between $3,000 and $5,000 on upkeep of the Auburn Community Cemetery. A fund valued at $100,000 could potentially issue about $3,000 each year! The fund is off to a great start to that goal. The early supporters have pledged to help raise at least $100,000 in the next ten years to help grow this fund. They are already a tenth of the way to their goal with $10,000 in gifts to date. If others in the community likewise come forward, I’m sure their goal will be met.”
Persons who wish to make a charitable gift to the Friends of Auburn Community Cemetery Fund can mail a check (payable to the PACF with fund name on memo line) to PACF, PO Box 1762, Parkersburg, WV 26101-1762 or give online by clicking here. Other forms of donation may be made by calling the Foundation’s office at 304.428.4438. The “Friends of Auburn (WV) Community Cemetery” has its own Facebook page; more details may be found on it. Annual gifts to the Auburn Community Cemetery Committee (for ongoing maintenance, rather than investment for the future) can be mailed to PO Box 92, Auburn, WV 26325.
The PARS Brain and Spine Institute was founded in 2005 with a vision of increasing the access to highly specialized neurological and neurosurgical care for the Mid-Ohio Valley’s citizens. While PARS has grown tremendously, its core values remain focused on promoting comprehensive, compassionate and patient-centered care. To celebrate more than ten years of service to the region, PARS established the PARS Brain and Spine Institute Charitable Fund with the Parkersburg Area Community Foundation (PACF).
Originally founded by Houman Khosrovi, M.D., Rammy Gold, M.D., and Abdi Ghodsi, M.D., PARS has grown to include five board-certified physicians, nine mid-level practitioners, and over seventy highly trained medical professionals. Each year, over 3500 new patients are referred to PARS with a variety of neurological disorders. With multiple locations, most patients travel less than twenty-five miles for specialized care typically only offered in major metropolitan areas.
“Our community has been very supportive of PARS and we are so appreciative,” said Dr. Khosrovi. “Because of this support, we feel it is imperative to give back to the place we have called ‘home’ for many years. We are excited to launch this charitable giving partnership with the PACF so that as the fund grows, we can address important needs/causes in the region through grantmaking and community engagement.”
Established in 1963, the PACF is a single 501(c)(3) public charity that manages more than 350 charitable funds established by individuals, families, businesses, and civic or nonprofit organizations with the goal of making a positive and permanent commitment to a better future for our community. The new PARS Brain and Spine Institute Charitable Fund of the PACF allows PARS to address key community issues while gaining the community grantmaking expertise, administrative management and investment services offered by the Parkersburg Area Community Foundation.
“One of our first endeavors is to assist in engaging the region’s unserved youth, primarily elementary students, with art and music and connecting them to educational opportunities,” said Lynn McCormick, Director of Community Outreach and Charitable Giving at PARS. “We are currently working to establish a free after-school program at Jefferson Elementary in Parkersburg that will begin in September. At PARS, we fully believe that music education is an integral part of development of a child’s mind and we want to take a proactive step to ensure music and art education is available to all elementary students. This is a grassroots effort to help battle drugs, improve attendance at school, grow children’s talent, improve self-esteem, expand higher-cognitive creative thinking skills, and help children find their personal voice through creative expression.”
To learn more about the PARS Brain and Spine Institute’s charitable giving program, please contact McCormick at (304)865-3602. To learn more about the Parkersburg Area Community Foundation, please contact Julie Boyce at (304)428-4438.
The Little Kanawha Area Community Foundation (LKACF), an affiliate of the Parkersburg Area Community Foundation (PACF), announced $2,750 in grants to support charitable projects benefitting Calhoun, Gilmer, and Wirt counties.
Founded in 2000, the LKACF works to build permanent charitable funds to benefit the residents of Calhoun, Gilmer, and Wirt counties. The LKACF family of funds includes 8 named funds, representing $650,000 assets. Each fall, the LKACF awards grants to benefit community projects. Grants awarded this fall are made possible through the LKACF Community Support Fund, which supports charitable projects that benefit the residents of Calhoun and Wirt counties; the Gilmer County Community Grantmaking Fund, which provides funds to address the needs of Gilmer County; and the Larry D. and Margaret D. Brown Advised Fund, which supports charitable projects in the region.
The following agencies received grants from the LKACF:
“These grants are all focused on the children in our communities,” said Ron Blankenship, LKACF Advisory Board Chair. “We loved that the Normantown Christian project involved children in a project that will give back to others in need. We also know that CASA plays an important role in helping to protect the most vulnerable children in our community, and the role of our local schools and teachers in educating our children is critical to our future. We are pleased to be able to provide support for these three child-focused grants.”
Current LKACF Advisory Board members, in addition to Blankenship, include Martha Haymaker, Bob Radabaugh, Kyle Pierson, Jean Simers, Andrew Matheny, and Leslie Maze.
The Parkersburg Area Community Foundation & Regional Affiliates (PACF) announced that $324,175 was raised through Give Local MOV, the May 1st fundraising event hosted by the PACF.
Nonprofit partners in Give Local MOV 2018 included 47 groups with missions supporting animals; arts and culture; community improvement; education; environment; health; human services; and youth development. Organizations invited to participate were those with a charitable fund associated with PACF’s family of funds.
Nonprofits raising the most funds included: FaithLink, Parkersburg High School Foundation, Parkersburg Art Center, YMCA of Parkersburg, and the United Way Alliance of the MOV.
A key benefit of giving to the participating nonprofits on May 1st was the availability of 1:1 matching funds and incentive prizes. Several regional sponsors, led by Superior Toyota, supplied matching funds that made the day even more exciting. In addition, several individuals/businesses offered private challenges to specific organizations and $7,000 in hourly prize incentives encouraged giving.
The PACF takes no fee to organize and host the Give Local MOV campaign. The PACF supplies the secure online giving platform and also covers credit card processing fees, allowing 100% of each donor’s gift to go to its intended agency. This year, some donors that gave on May 1st opted to help cover the credit card processing and transaction fees with their donation and the Foundation is very grateful for their support.
“Our event sponsors and the local donors who contribute are the critical factors in the success of Give Local MOV,” said Julie Posey, PACF’s Development and Communications Officer. “Our local businesses once again stepped up and enabled us to make an incredible impact region-wide. And, local businesses are only able to support positive initiatives, such as Give Local MOV, if they themselves have support from local residents. By supporting local businesses and shopping local, you can help provide for the greater good of our community. We urge everyone to give local and to shop local!”
“Since the founding of Give Local MOV in 2014, more than $1.26 million has been raised for the region’s charitable groups,” said Posey. “It’s amazing how much can be achieved when we work together. The Foundation’s Board and Staff are proud to be part of such a giving community.”
The Foundation plans to host Give Local MOV again. Businesses, nonprofits or individuals interested in having a significant impact for their investment and want to get involved in Give Local MOV 2019 should contact Posey at 304-428-4438 to learn more.
Doddridge County, WV – EQT Corporation is providing support for charitable projects in Doddridge County through a contribution to the Doddridge County Community Foundation (DCCF), an affiliate of Parkersburg Area Community Foundation (PACF). Funds will be used to help build the Doddridge County Community Support Fund, providing an ongoing source of support for charitable needs in the county, and to make grants in fall 2016 in response to the current needs of Doddridge County and its residents.
“EQT plays an important role in developing the region’s abundant source of natural gas – and Doddridge County is an essential part of that,” said Linda Robertson, EQT Spokeswoman. “But for us, it’s not about ‘just doing business.’ Many of our employees live here or grew up here. And we all have great respect for our neighbors here. Supporting the Community Foundation is just one way we’re making a positive investment in the wellbeing of Doddridge County.”
“These funds will make a difference in Doddridge County both in the present, through grants made to support important projects that meet the immediate needs of residents, and in the future, by building a permanent fund that will perpetually support Doddridge County. We are grateful to EQT for this gift, which we know will make a difference here in our county,” said Tom Whaling, DCCF Advisory Board Chairman.
Organizations interested in applying for grant support through DCCF can complete the Foundation’s online Community Action Grants Program application, available beginning July 15 through PACF’s web site, www.pacfwv.com. The grant application deadline is September 15. For questions about grants, contact Marian Clowes at 304-428-4438 or firstname.lastname@example.org
Photo Caption: Ellen Rossi, with EQT, presents the EQT donation to DCCF Advisory Board members. Pictured, from left to right, Matt Alexander, Marian Clowes (PACF), Zona Huston, Ellen Rossi (EQT), Tom Whaling, Brad Wilt, and Rick Oyler.
About EQT Corporation: EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, and transmission. With more than 125 years of experience, EQT continues to be a leader in the use of advanced horizontal drilling technology – designed to minimize the potential impact of drilling-related activities and reduce the overall environmental footprint. Through safe and responsible operations, the Company is committed to meeting the country’s growing demand for clean-burning energy, while continuing to provide a rewarding workplace and enrich the communities where its employees live and work.
About Doddridge County Community Foundation: The Doddridge County Community Foundation (DCCF) works with individuals, families, businesses, and civic or non-profit organizations to make a positive and permanent commitment for the future of Doddridge County, West Virginia. DCCF is an affiliate of the Parkersburg Area Community Foundation (PACF), which is a single 501(c)(3) public charity. PACF works in partnership with its local affiliates to provide leadership and develop philanthropic resources to meet the needs of an 11-county service area. Since 1999, DCCF has helped local citizens support charitable needs and touch every aspect of life in the community in a variety of lasting ways. For more information about PACF and its affiliate, DCCF, visit www.pacfwv.com or call 304-428-4438.
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