How to Leave a

LOCAL
Legacy By Victoria Mullen
Photos by Daniel E . Johnson

YY ou can’t take it with you. So, why

not take some time to take stock
of your estate? It doesn’t matter
how many or few assets you have.
Just ask yourself this: Do you
value your community?

Marilyn Zack, Grand Rapids Community Foundation’s

vice-president of development, continues the dialogue.
“Do you want control over where your money goes?
Or do you want the government to decide?” she says.

Planned giving offers many ways to increase control

of your money, including bequests of cash, equity or
property. The Community Foundation welcomes gifts
of various sizes and types from private citizens,
corporations, government agencies and other
foundations. Nearly every type of gift, including real
estate, closely held stock and artwork, can be
contributed to the Community Foundation.

“Don’t get hung up on not having enough money to

make a difference,” says Zack. “Collective giving
helps over generations, so no matter what size the gift,
you will join the group of givers. Gifts of any size are
helpful.”

Depending on a person’s means and wishes, gifts are

directed into one of two types of funds: personal
endowments or community endowments. An
endowment speaks to the future of a community and
the desire of people in the present to make sure that
generations are ensured the same or better quality
of life.

Personal endowments require a minimum gift of

$50,000 and a consultation to determine the name and
purpose of the fund. Gifts to a community endowment
are combined with others, creating a great pool for
grant-making that has a much larger impact.

“We realize that to care for and enrich the surrounding

community, it is most efficient to pool together the
resources of those who would like to help,” says Zack.

Planned giving makes good sense on many levels.

Frustrated with the way your tax dollars are being
spent? See a need that the federal or state government
is neglecting? The Community Foundation lets you
select where your money goes. It has funds that
support each of six community goals: Academic
Achievement; Arts and Social Enrichment; Economic
Prosperity; Healthy Ecosystems; Healthy People;
Vibrant Neighborhoods; and Community Good, which
supports all six goals.

with Marilyn Zack and Kate Luckert Schmid Community foundations comprise one of the fastest
growing sectors of philanthropy in the United States
of the Grand Rapids Community Foundation
16 www.GoWLM • December 2010
 “Don’t get hung up on not having enough
money to make a difference,” says Zack.
“Collective giving helps over generations, so
Turn Back
no matter what size the gift, you will join the the Years
group of givers. Gifts of any size are helpful.”
December

today. These organizations build and
strengthen communities by making it
possible for a wide range of donors to
participate in creating permanent funds
to meet present and future needs. Such
organizations have become catalysts for
improvement within urban centers and
in rural settings through philanthropy
that is visionary, diverse and inclusive.
Since 1922, gifts to the Grand Rapids
Community Foundation have totaled
$168 million (93 percent of which have
been received since 1980). Through
investing, these gifts have been
preserved and grown to $315 million.
From this collective pool, $125 million
in grants have been awarded to
local nonprofits.
“Needs change over time, so the organi-
zation is flexible enough to meet the
current needs of the community,” says
Kate Luckert Schmid, the Community
Foundation’s program director. Schmid
also has been with the organization for
10 years.
For example, in the 1940s, wartime
conditions caused a shortage of local
nurses. The Community Foundation
responded by initiating a post-graduate
scholarship program for nurses and
faculty from area hospitals, awarding
scholarships of up to $1,000 per person
per year.
More recently, in 2008, the Community
Foundation awarded grants to such
organizations as the Dwelling Place of
Grand Rapids, to help renovate a
residence for women who have fled
domestic violence; Health Intervention
Services, to add an urgent care clinic
two and a half days a week for non-
insured patients with immediate
medical needs; and Family Outreach
Center, to place children at risk of abuse
Specials
and neglect with relatives, thus avoiding
traditional foster care placement. $95 Per Treatment
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Community foundations provide
leadership and problem-solving in the Bikini Line, Chin,
present as well as preparing for the Lip or Underarm
future with a permanent endowment.
The Grand Rapids Community $50 off
Foundation’s role has grown from Perfectly Applied
simple grant-maker to a community Permanent Make-up
leader seeking long-term solutions to
diverse community challenges.
$10 off
“From the Foundation’s vantage point, Glycolic or Salicylic
we can see emerging problems,” says Acid & Alpha Beta
Zack. “Our donors depend on us to be facial peels
leaders in problem-solving, and we can
help convene the appropriate people to
determine solutions.”
“We are a community resource,” adds www.agentletouch.net
Schmid. “Whether or not you donate to
the Community Foundation, you can 3427 Salerno Dr. NE • Grand Rapids
come to us with questions about
planned giving.” Call for your appointment: (616) 447-9393
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The Community Foundation, located at
185 Oakes St, SW, serves all of Kent
County and is Michigan’s oldest
A C C E P T I N G N E W PAT I E N T S
community foundation. It has assets of
more than $215 million and makes
grants for several different charitable Michigan Obstetrics & Gynecology, P.C.
purposes. Its mission is broad, so you W e l l n e s s f o r W o m e n
can support any area of community
need. When you make your gift, be
specific as to how you want it to be
spent. The donor’s intent is always
followed, unless legally impossible.
If you don’t have a defined charitable
organization, the Community
Foundation can refer you to profes-
sional advisors who help donors make
good choices for planned giving. You
may contact GRCF at 454-1751.

How to make a planned gift

• Bequests are easy to make without taking away your current income
stream. Consider designating the Community Foundation as the
beneficiary of your IRA or charitable gift annuities. You don’t need an Steven J. Lown, D.O. • Peter Kaczkofsky, D.O.
attorney to set these up. Kelly Hansul, D.O. • Mary Beth Grey, D.O. • Judy A. Florido, D.O.
• When planning your gift, be as specific as possible. Don’t be afraid
to discuss what your wishes are with the Community Foundation. Grand Rapids Wyoming
They won’t hound you. The Foundation works with attorneys to
create bequest language that can be easily interpreted and can
247-3800 532-5025
help you personalize the way you want to be recognized. The staff 4300 Cascade Road 2221 Health Drive SW • Suite 2100
(Near Byron Center Ave. & 56th Street)
has decades of experience in making connections to follow the
donor’s intent. Offices also located in: Caledonia and Wayland: 532-5025
• Visit the Community Foundation’s website at www.grfoundation.org Belmont, Comstock Park and Cedar Springs: 247-3800
to learn more about the organization and to see where the money
goes. You can further explore planned giving, read donor stories and www.michiganobgyn.com
review fund options. OBSTETRIC & GYNECOLOGICAL CARE • INFERTILITY • SURGERY • ULTRASOUND

www.GoWLM • December 2010 17