who are the ardpi partners?
DESCRIPTION
Who are the ARDPI Partners?. Why ARDPI?. Funded by Promote wealth creation Establish community foundations or community foundation funds Transform communities from within. What is a Community Foundation?. Exists as an independent, tax-exempt public charity - PowerPoint PPT PresentationTRANSCRIPT
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Who are the ARDPI Partners?
ARDPI
The Center for Rural
Development
Brushy Fork Institute
Blue Grass Community Foundation
The Foundation
for Appalachian
Kentucky
The Foundation
for the Tri-State
Community
Kentucky Philanthropy
Initiative
Endow Kentucky
Commission
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Why ARDPI?Funded by
• Promote wealth creation• Establish community foundations or community foundation
funds• Transform communities from within
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What is a Community Foundation?
• Exists as an independent, tax-exempt public charity
• Features giving by and for local residents• Acts as a community savings account• Creates long term assets for the betterment of
the entire community
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Who Are the Pilot Counties?
Bell, Clay, Knox, Magoffin, Whitley, Knott, Letcher, Elliott
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What Does ARDPI Offer Pilot Counties?
• Community leaders from Pilot Counties can:– Explore the potential that local community
philanthropy offers as a development tool– Examine options to build local community
philanthropy– Get real help and hands-on assistance over the next
two years
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Who Are the Prospect Counties?
Adair, Bath, Breathitt, Carter, Casey, Clinton, Cumberland, Estill, Fleming, Floyd, Green, Harlan, Hart, Jackson, Johnson, Lawrence, Lee, Leslie, Lewis, Lincoln, Martin, McCreary, Menifee,
Metcalfe, Monroe, Morgan, Owsley, Perry, Powell, Robertson, Rockcastle, Russell, Wayne, Wolfe
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What Does ARDPI Offer Prospect Counties?
• Community leaders from Prospect Counties can:– Apply for mini-grants – Access online resources– Develop a plan to take rural philanthropy to the
next level
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What Are ARDPI’s Goals?• Raise awareness on rural philanthropy• Elevate the understanding of community
foundations and their benefits• Secure local assets to provide long-term resources
for Eastern Kentucky communities• Keep Eastern Kentucky’s wealth in Eastern
Kentucky• Increase charitable giving overall
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Background Information• Transfer of Wealth Kentucky Study
• http://www.kyphilanthropy.org/images/stories/reports/KSOP-ToW.pdf
• Endow Kentucky Legislation• http://dlg.ky.gov/Endow+Kentucky.htm
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What is Transfer of Wealth?• Every Kentucky county has wealth• $707 billion will transfer to the next
generation by 2060• Outmigration in Eastern Kentucky increases
the impact• The difference capturing even 5% of that
wealth could make for your county’s future
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Transfer of WealthBlue Grass Community Foundation Pilot Counties
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Transfer of WealthBlue Grass Community Foundation Pilot Counties
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Transfer of WealthThe Foundation for Appalachian Kentucky Pilot Counties
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsKnott $0.76 $0.19 $9.72 $0.49Letcher $0.88 $0.23 $11.33 $0.57
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsKnott $0.76 0.48 23.35 1.17Letcher $0.88 $0.52 $26.13 $1.31
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsKnott $0.76 $1.76 $87.77 $4.39Letcher $0.88 $1.77 $88.27 $4.41
Ten Year
Twenty Year
Fifty Year
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Transfer of WealthThe Foundation for Appalachian Kentucky Pilot Counties
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsKnott $0.76 $0.19 $9.72 $0.49Letcher $0.88 $0.23 $11.33 $0.57
Ten Year
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Transfer of WealthThe Foundation for the Tri-State Community Pilot County
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsElliott $0.17 $0.04 $2.07 $0.10
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsElliott $0.17 $0.10 $4.97 $0.25
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsElliott $0.17 $0.45 $22.41 $1.12
Ten Year
Twenty Year
Fifty Year
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Transfer of WealthThe Foundation for the Tri-State Community Pilot County
2010 Net Worth TOW 5% Capture 5% PayoutCounty $ Billions $ Billions $ Millions $ MillionsElliott $0.17 $0.04 $2.07 $0.10
Ten Year
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What is Endow Kentucky? • Allows a 20% tax credit for any endowment
up to $50,000 made to a qualified community foundation
• Allows credit to be spread over a five-year period
• State and Federal tax deductions still apply
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There’s never been a better time to give here in Kentucky!
Endow Kentucky Commission