Residents of Wilson County recently established an affiliate Community Foundation to enhance charitable giving in their county.
Dr. Paul Stumb, dean of the Cumberland University Labry School of Business, spearheaded the Wilson County-based effort. The foundation’s 12-member board of directors met Thursday for the first time.
While several funds within the Community Foundation already contribute to Wilson County charities, “the move to create an affiliate in Wilson County will enable us to have an independent local Community Foundation organization charged with the responsibility of procuring and establishing funds to serve needs in Wilson County,” said Stumb.
The Community Foundation of Middle Tennessee administers funds that benefit organizations in Wilson County, including Lebanon High School, Cumberland University, Brooks House and New Leash on Life, among others.
“Creating this Community Foundation Affiliate Fund is like establishing a charitable savings account for a community,” said Ellen Lehman, president of the Community Foundation of Middle Tennessee. “Funds are given by an ever-expanding group of people who love the community and who are eager to protect the quality of life they enjoy for the benefit of this and future generations.
“The funds come in, are invested, and the community continues to reap the returns for generations to come. But for creation of a fund like this dedicated to a place, fewer people would have the opportunity to have more money remain ‘at home’ and less be sent off to the IRS, now or after they die. We are honored to help Wilson Countians invest in their future. We know that when people come together to invest in their community, important things happen.”
For about 23 years, the Community Foundation of Middle Tennessee has provided personalized charitable solutions to help individual donors make a difference and enrich the communities in which they live in ways that are important to them. It currently has active affiliate funds in Cheatham, Dickson, Montgomery and Wilson counties, as well as Christian, Todd and Trigg counties in Kentucky.
Community Foundations are a resource for a community interested in protecting its future and enhancing the quality of life for its residents. In hundreds of communities across the U.S., leaders have come together to establish a community foundation, founded on the belief that a portion of wealth created by a community should accrue to its benefit. The charitable intent is fulfilled for generations.
One or more individuals, committed to making their community a better place to live, make a gift to the Community Foundation of Middle Tennessee. The gift may be cash, publicly traded or closely held securities, bequests, planned gifts, insurance, IRAs, remainder or lead trustee, real property, etc.
A fund is established with as little as $5,000. Grants from the fund may only be made to qualified charitable organizations in the defined geographic area.