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By Caroline Downs
The Kenmare Area Community Foundation has the opportunity to turn $5,000 into $20,000.
All the board needs is a little help from Kenmare area residents.
KACF board president Bryan Quigley explained the Foundation received a matching grant commitment in the amount of $5,000 from the Kenmare Veteran’s Club. “This year, we’re trying to match that $5,000,” he said. “If we raise the $5,000 match, the North Dakota Community Foundation will match that $10,000 and our fund would grow by $20,000.”
Actually, nearly half the matching funds are already committed, in the amount of $2400. “Right now, we’re asking people for one dollar per day,” Quigley said. “We’d like to find 14 or 15 people around who would do that.”
The first $5,000 needs to be raised before December 31, 2012, in order to receive the $10,000 from the North Dakota Community Foundation, but Quigley was optimistic about the board’s chances for success. He noted the KACF can receive gifts in the form of monetary donations, as well as land, memorials, easement payments, mineral acres, a percentage of mineral royalties, or any combination of those. “We can work that out with the donors,” he said.
Contributions to the KACF are tax-deductible. A new law approved by the state legislature in 2011 also allows for additional tax credits to individuals who give $5,000 or more to a qualified endowment in the state, such as the KACF. The tax credit is 40 percent of the charitable deduction allowed by the IRS up to a maximum credit of $10,000 per year per taxpayer or $20,000 per year per couple filing jointly.
Further questions about the new tax credits can be directed to Quigley or to Kevin Dvorak at the North Dakota Community Foundation by calling 701-222-8349.
funds area projects
Money received by the KACF is placed into an account, with interest from that account used to fund area projects through grant awards. Quigley noted the KACF has been able to provide such grants during the past two years.
Grant applications are due each June, with the grants announced in August. Applications can be accepted from non-profit organizations.
Just over $2,000 has been awarded each year to various organizations, including the Kenmare Food Pantry, Wheels & Meals, Donnybrook Community Center, Pioneer Village, Kenmare Summer Arts Institute, Kenmare Scenic Trail and others.
Quigley admitted to a lofty long-term goal for the local fund. “I want the fund built up to a million dollars,” he said. “I hope we can build [it] up high enough to fund projects in the community for a long time to come.”
For now, he would be pleased to complete the immediate $5,000 goal in order to access the money committed from the Kenmare Veteran’s Club and the NDCF.
“Of course, if we were able to raise $25,000 this year, then the North Dakota Community Foundation would match up to $15,000 of that,” he added. “That might be a long shot, but I’d be more than happy to accept any donations!”
KACF board members Melissa Sagness, Laurie Dockter, Kathy Schumacher and Alan Scherbenske can provide additional information about the local fund and grant awards.
For further details about the KACF’s immediate goal to raise $5,000 or to make a contribution toward that effort, contact Quigley at 701-467-3444 or 701-240-4505.