Check out the SCF Update on KCSI from 12/1/20!
Stanton Announces All New Community Foundation to Benefit Residents and Community
The Stanton Community Foundation (SCF) allows anyone to leave a financial gift and a lasting legacy, and potentially receive tax benefits, according to Jenna Ramsey, the City of Stanton’s Community Development Director.
The Stanton Community Foundation’s purpose is to benefit the community’s economic vitality by identifying, developing, and then funding projects which will grow and sustain our community. Action from the SCF can be both long range and very short range – as needs become available.
“SCF establishes a manner for residents, alumni, former residents, really anyone to contribute and leave a lasting legacy that will benefit the community of Stanton for years to come,” said Ramsey.
The Stanton Community Foundation has applied to the IRS for recognition as a 501(c)(3) tax-exempt public charity. A contribution to the Stanton Community Foundation is a way you can make a difference today, tomorrow and long into the future. There are already some short-term needs in the community stemming from the Covid-19 pandemic, stated Ramsey – which contributed to the timing of the SCF announcement.
Large or small, your contribution or pledge will have a lasting impact on the community of Stanton. Stanton Community Foundation currently is accepting only cash donations but may expand to other possibilities in the future.
“Last November, a group of people in the community got together and decided we needed a place where tax-deductible donations could be made and go toward any future projects,” said Ramsey. “We have received our tax ID and submitted an application for recognition as a 501(c)(3) public charity, and are now beginning fundraising.”
While donations are accepted for projects at any time, there are two key projects going on now which were crucial for the timing of the foundation announcement. The first is the COVID-19 Relief Fund now set up through the foundation.
“Approximately $1,343 was raised for those severely affected by the Coronavirus Pandemic. More is needed. These funds will go to the Stanton Covenant Church and Mamrelund Lutheran Church food pantries as well as begin a fund for people to apply for help during this time.”
The other project now underway is the Stanton Downtown Façade Renovation. The City of Stanton has hired Curtis Architecture from Ottumwa, Iowa to begin working with building owners on this project.
“The City of Stanton received a personal donation of $20,000 last December to kick off this massive project. Fundraising efforts will continue throughout 2020.”
Donations to Stanton Community Foundation may be dropped off or mailed to Great Western Bank at 401 Broad Avenue, Stanton, Iowa 51573. For more information, contact Jenna Ramsey at (712) 829-7340 or [email protected].
DISCLAIMER: Stanton Community Foundation has applied for recognition of tax-exempt status under Section 501(c)(3) of the Internal Revenue Code; however, Stanton Community Foundation has not yet received a determination letter from the IRS recognizing its tax-exempt status. Therefore, contributions made to Stanton Community Foundation do not have advance assurance of deductibility, while Stanton Community Foundation’s exemption is pending. If Stanton Community Foundation ultimately qualifies for exemption for the period in which a contribution is made, the contribution will be tax-deductible to the donor. If you have questions concerning the deductibility of a particular contribution, please consult your tax advisor.