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FAQ's
What is the Greater Clark Area
Community Foundation?
The Greater Clark Area Community Foundation (GCACF) is a nonprofit,
public organization created to attract and distribute charitable
funds for the benefit of the Greater Clark area. These funds are
deposited in to an endowed, permanent fund.
As a community foundation, the Foundation is a collection of funds
from organizations, families, individuals and businesses that seek
to improve the quality of life in the Greater Clark area.
Together, these contributions are an effective and growing
charitable financial resource with which we can build a better
community and enhance the lives of Greater Clark Area citizens. To
that end, the Greater Clark Area Community Foundation was formed in
2007 by a committee of local citizens.
What will happen if I give the Foundation a charitable gift?
Your gift is invested by the South Dakota Community Foundation, and
distributions are made from fund income to local charitable
organizations or for scholarships within the Greater Clark Area. Most
important, the fund will continue to benefit the Greater Clark area
forever: you will create a legacy…..
What types of gifts will the foundation accept?
Gifts may be given during your lifetime or through a will or estate,
or both. Gifts of cash, stock, life insurance, real estate,
commodities are the most common.
Why give to the foundation instead of directly to a charity?
Gifts to a charity through a fund in the Foundation provide a
permanent, reliable stream of income, not a onetime gift that may be
expended in the first crisis. If the charity you value today changes
in the future, the Foundation will insure that your charitable
intent is followed…..always. The Foundation will pool your funds
with other assets for the greatest return on investment.
How are the Foundation Funds Managed?
Gifts contributed to the Greater Clark
Area Community Foundation are held within the South Dakota Community
Foundation. Grants are made in January of each year as directed by
the local Foundation Board. The South Dakota Community Foundation
returns earnings of 5% annually to the Greater Clark Area Community
Foundation for distribution locally. Hence; the larger the fund
balance, the more earnings will be available for local causes.
There is a Grant Application process for local interest to apply
for.
Are education scholarships available through the foundation?
Yes. While gifts to the Foundation when given to the general fund
are more beneficial to the area as a whole, there have been a few
gifts given with scholarships in mind. Gifts given as scholarship
resources can be used for that purpose and that purpose only unless
specific arrangements are made when the gift is given.
However; some donations to the Greater Clark Area Community
Foundation have been given for the expressed purpose of establishing
scholarships. The Foundation Board works hand in hand with the Clark
School System in the implementation and application of scholarships.
You may visit www.clark.k12.sd.us to view these and other
scholarship applications.
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