Door Community Auditorium Fund

920.868.2728
www.dcauditorium.org

Consider the hypothetical example of John and Jane Smith. The Smiths have done well in life and typically donate $10,000 each year to the charities they love, including John’s alma mater in Illinois, their church in Florida, and several small charities Jane loves here in Door County.

On their 2017 tax return, the Smiths claimed itemized deductions of $23,000. They deducted $6,000 in mortgage interest, $7,000 in state and property taxes, and $10,000 in charitable gifts. Unfortunately in 2018, under the new tax law, the higher standard deduction of $24,000 means the Smiths will no longer be able to itemize their deductions. Hence, they are not entitled to any tax deduction for the $10,000 they contribute to charity every year.

For a couple like the Smiths, bunching several years of charitable gifts into a single year through the Door County Community Foundation is the perfect tax planning tool. They can combine multiple years of charitable donations into this tax year to exceed the standard deduction.

So the Smiths visit the Door County Community Foundation and create the John and Jane Smith Donor Advised Fund. After conferring with their advisors, the Smiths decide to bunch five years of future charitable gifts into this tax year and thus contribute $50,000 into their Donor Advised Fund today. As a result, the Smiths claim $63,000 in itemized deductions on their 2018 tax return. It’s the same $6,000 in mortgage interest and $7,000 in state and property taxes, but it now includes a single $50,000 gift to their Donor Advised Fund.

Then the Smiths use their Donor Advised Fund to pay out $10,000 in contributions every year over the next five years, including to John’s alma mater in Illinois, their church in Florida, and several small charities Jane loves here in Door County. If the Smiths prefer, the money in their Donor Advised Fund can even be invested during those five years so they’ll have even more money to give away to charity. Regardless, neither the distributions from their Donor Advised Fund, nor any earning on it, have any tax implications for the Smiths. They claimed their $63,000 in itemized deductions in 2018.

In the following four tax years of 2019 to 2022, the Smiths then claim the standard deduction on their tax return. Finally, in 2023, the Smiths might decide to do it all over again and replenish their Donor Advised Fund by bunching the next five years of contributions into 2023, thereby repeating the cycle. This simple tax strategy gives the Smiths an additional $78,000 in tax deductions over 10 years.

The savings can be magnified if their gift is made with highly appreciated stock. In that case, they’d also avoid the capital gains taxes.

A Powerful Tax Strategy

Bunching charitable gifts through a Donor Advised Fund at the Door County Community Foundation is an incredibly powerful tax planning tool for generous families.

Donor Advised Funds are convenient, flexible tools for those who want to be personally involved in suggesting grant awards made possible by their gifts. If you have a range of community interests, you may find that it’s an ideal vehicle for fulfilling your charitable wishes. Donor Advised Funds are typically less costly and easier to administer than other forms of philanthropic giving (such as family or corporate foundations).

Your gift can be combined with others to increase its impact, and you can add to the Fund you establish at any time, receiving tax benefits with each new gift. You can establish a Fund today and make grant recommendations now or in the future. And if you endow your gift, it becomes a permanent community funding resource.

Talk with your professional wealth or tax advisor to determine whether bunching charitable gifts through a Donor Advised Fund might be a good tax planning tool for your unique situation.

The Community Foundation administers hundreds of separate charitable Funds, each with a different purpose.  Please select from the list below:

Discretionary Endowment Funds

Your gift is used to award grants to charities and projects serving Door County.

• For Good Forever Fund – The Community Foundation is here for good, and we’re here forever.  The For Good Forever Fund is the general unrestricted fund for all of Door County.   We simply cannot know what issues or opportunities the future will bring, but we can be confident that the Community Foundation will be here to address it.
• Arts Fund –  Through the Arts Fund, the Community Foundation supports creative charitable activities in Door County that use the arts to enrich the community and touch the lives of the people of Door County.
• Children and Youth Fund – The Community Foundation supports charities that are working to ensure a brighter future for the community’s children – whether it be alleviating their burdens today or helping them realize the opportunities of tomorrow.
• Crime Prevention Foundation – Promotes innovative programs and equipment that will enhance the Sheriff’s Department in establishing strategies to prevent crime and strengthen relationships with the community.
• Door County Green Fund – The Green Fund supports land acquisition projects in our community and also invests in environmental education, funds land preservation, eradicates invasive species, and supports other types of “green” projects.
• Door County Growing Older Fund – The Growing Older Fund invests in initiatives that work to address the diverse issues and opportunities associated with aging, foster intergenerational connections, and help build a supportive community where we can all enjoy growing older together.
• Education Fund – The Community Foundation believes that learning is a lifelong pursuit – and nurtures its incorporation into the many aspects of life in Door County.
• Health and Human Needs Fund – The Community Foundation supports charities that are working to aid those who live in the shadows of society – those whose health or human service needs are not being adequately addressed.
• Healthy Water Door County – Door County’s unique geography makes our water vulnerable. The mission of Healthy Water Door County is to protect our community’s human, environmental, and economic health by guarding against threats to our water.
• Historic Preservation Fund – Working in partnership with the Clifford and Clara Herlache Heritage Foundation, the Community Foundation’s Historic Preservation Fund supports the appreciation, enhancement, and preservation of historical landmarks and the cultural heritage of Door County.
• Women’s Fund of Door County – The Women’s Fund of Door County builds, enriches, and nurtures the lives of women and girls through collective wisdom and philanthropy. Because when she thrives, we all prosper.

Community Projects and Initiatives 

The Door County Community Foundation’s Board of Directors has launched and/or endorsed several community efforts that operate as a project or initiative of the Community Foundation.

• COIN Investment Network – Encourages entrepreneurs to build their businesses in Door County by offering micro-loans to provide capital.
• Door County Granary Fund – The Sturgeon Bay Historical Society Foundation, Inc. is working in conjunction with the City of Sturgeon Bay to preserve and restore the 1901 Teweles and Brandeis Grain Elevator, now named the Door County Granary.
• Door County Civility Project – A community-based initiative with a mission to foster and incorporate the principles of civility into the fabric of everyday life in Door County.
• Door County Food Pantry Coalition – It’s our community’s coordinated, sustainable response to providing food and other supplies to people who are struggling.
• Ellie Helm Foundation – A lover of the outdoors, animals, kids and the elderly. Ellie believed in touching everyone…no matter how small that touch was.
• Go Bo Foundation –  Bringing hope to children with life-threatening medical conditions by funding research, supporting treatment, and helping their families during times of financial need.
• Service Club Coalition – Provides financial support to projects in which youth use their skills, talents, and abilities to serve or educate others and theatrical productions in which youth play a significant role in its production and/or on-stage performance.

Scholarship Funds

The Scholarship Fund of the Community Foundation are providing financial assistance to deserving students.

• Scholarship Funds of the Community Foundation –  Select the scholarship you would like to support by clicking the link.

Non-Profit Funds

Give to a Fund created by the local charities themselves.

• Non-Profit Funds of the Community Foundation –  Select the non-profit you would like to support by clicking the link, then choosing a Non-Profit Fund from the dropdown menu.

Eliminating Domestic Abuse Endowment
Domestic Abuse Transitional Living Fund
Thelma Windhauser Endowment Fund
Help of Door County, Inc. Fund Established by Connie and Bob Erickson
www.helpofdoorcounty.org
(920) 743-8818

The mission of HELP of Door County is to eliminate domestic abuse through prevention and intervention services and to advocate for social change. Domestic abuse may include emotional, sexual, physical, verbal, and/or financial abuse using the tactics of blaming, intimidation, coercion, threats, minimizing, isolation, and denial to control and manipulate victims in an intimate or dating relationship. Domestic abuse is a crime.

HELP provides intervention and prevention services to victims of domestic abuse. Services include but are not limited to: case management; legal advocacy; Women and Children’s Educational and Support Group; Transitional Living Program; Emergency Victim Assistance Fund; Visitation and Exchange Program; Alternatives to Violence Program (includes the men’s ATV and the women’s WEAV programs); community outreach, and a 24-hour domestic abuse hotline. HELP provides services at a main office in Sturgeon Bay and a satellite office in Sister Bay.

Sunshine House, Inc. Fund
www.sunshinehouseinc.org
(920) 743-7943

Sunshine Resources of Door County is a diverse community service provider with a mission to support meaningful lives and independence of our community members with physical and developmental disabilities. Since 1971 we have provided day service programming, employment services, life skill classes and socialization to promote inclusion. We also offer Senior Adult Day services for families needing support with loved ones living with Parkinson’s, Alzheimer’s and dementia. Our Sunflower Cottage is also open to seniors looking for socialization and companionship.

As a community resource, we also provide a full transportation service to all participants to ensure the barrier of transportation does not prevent participation.

SRDC also operates a full production facility and a resale store that provides job skill experience to prepare participants for the workforce. Our Employment Services program also includes resume building, interview preparation and job matching, and job placement to ensure the highest opportunity for success.