The vision of Legacy Regional Community Foundation is to be a comprehensive foundation that is intentional and boldly proactive in embracing our donors and our community.
We believe the distinctive mission of Legacy Regional Community Foundation is to grow area philanthropic and nonprofit efforts by connecting donors with critical needs in our community, instilling informed leadership and building endowments to create a stronger, healthier and more prosperous region.
Adopted by LEGACY, A Regional Community Foundation board of directors August 8, 2019
Under our umbrella are numerous funds—endowed or expendable—set up for the benefit of the local area. Gifts that come to Legacy are from individuals, groups and businesses that want to invest in the future of this area. In addition to cash, Legacy Foundation accepts a variety of financial assets — from commodities and IRAs to insurance plans and securities — allowing donors to give in ways that are convenient for them. At the time of the gift, donors tell us about how they would like the money to be spent, what interest, cause or organization they wish to benefit. Donors can give to specific organizations such as a library, hospital or non-profit or earmark their gift for general causes like education or healthcare.
We get to know our donors and their philanthropic goals, documenting intentions and helping to identify the best solutions to ensure their charitable dreams live on forever.
Legacy Foundation establishes two types of funds—endowed or expendable. Sometimes all that is needed is a safe and secure collector for community projects. Expendable funds are a great fit for those situations! If long-term sustainability is the goal, endowed funds are desired. When a main gift is endowed, the principal is never spent, instead it is permanently invested to provide income earnings for its intended use.
Community foundations, such as Legacy Foundation, pool resources and leverage that “buying power” to earn investment income, enabling a gift to make a greater impact than it could on its own.
Investments are overseen by the Legacy Investment Committee, a committee made up of local bankers, accountants and lawyers as well as interested community members.
Distributions (also called grants) are made from the earnings off the investment through a Grants Committee consisting of Legacy Foundation board members and interested community leaders throughout the year.