Aug. 14, 2013 — The Carter County Community Fund was officially unveiled during last Friday's Community Partners’ Summit at the Grayson Conference Center.
Functioning as a component fund of the Foundation for the Tri-State Community, this fund will allow philanthropists to donate money that is specifically earmarked for local charities.
Teresa Brown has been one of the primary proponents of the community fund initiative since the idea was first introduced more than a year ago.
In addition to announcing the formation of the fund, Brown also outlined an opportunity for additional support if enough funds are donated.
“If we are able to raise $10,000 by the end of the year, we will be eligible to receive up to $5,000 in additional matching grant funds,” said Brown.
Commercial Bank gave the fund a hefty push toward that mark by making a $1,000 donation shortly after the announcement was made.
An additional $1,000 was donated by other summit attendees, knocking out 20 percent of the goal right from the start.
“We weren't expecting money to come in during the conference. We were surprised when people came up and started handing us checks,” said Brown.
Establishment of the community fund comes with extra tax incentives for those who choose to focus their charitable giving on local initiatives.
In addition to the state and federal tax deductions that are available to individuals who donate to non-profit organizations, Kentucky taxpayers also receive a 20 percent state income tax credit up to $50,000 for monies donated to qualified community foundations.
Once the application guidelines are formalized, non-profit organizations in Carter County will have the opportunity to request various types of grant assistance from the community fund.
An advisory board will determine how those funds are dispersed.
Along with Brown, the members of the advisory board include Linda Lowe, Mark Strother, Keith Kappes, Mindy Woods-Click, Dan Click, Jackie Clevenger, Idabelle Case and Bill Bondurant.
“It's a good thing for Carter County. It shows that people are willing to help themselves and give back to their community in a positive way,” said Brown.
Joe Lewis can be reached at firstname.lastname@example.org or by telephone at 286-4201.