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O C T O B E R  2 0 1 8
BCF grants $734,000 to Clemens Community Pool in Philomath
Dear friends, 

I am excited to announce that the Benton Community Foundation is making a transformational gift this month of $734,000 to the Clemens Community Pool in Philomath. This gift is made possible through the Philomath Community Pool Fund, an endowment established by the Leonard and Kitty Nitka family in 1994. 

The Nitka family’s endowment has been helping to fund annual operations at Philomath’s community pool for the past 25 years. Now, at almost 60 years old, the facility is near the end of its lifespan. After careful consideration, the BCF Board of Directors has identified this as a crucial juncture to give a large gift, which will enable the pool to stay open for ten more years while also serving as a catalyst for a long-term solution.

The pool, owned by the Philomath School District and located at their high school, was built with a donation from local philanthropists Rex and Ethel Clemens in 1960. The Clemens, and the Nitkas after them, wanted the children of rural Benton County to have a place where they could safely learn to swim. Our gift honors the intent of the original Nitka family endowment to ensure the continuation of this treasured community resource.

This transformational gift to Philomath’s community pool is a perfect example of our work at the Benton Community Foundation. The pool serves a vital role in the community, not only teaching water safety skills but also offering a place for people of all ages to exercise, socialize, and build personal connections. And this endowment model, whereby an initial donation can grow over time to both support annual needs and fund major improvements, is a great demonstration of the impact the Foundation has in Benton County. 

The Benton Community Foundation is uniquely positioned to make these kinds of connections between donors like the Nitkas and the current needs in the community. We develop, protect, and build permanent community resources, such as the pool; we partner with donors to help maximize their impact; and we collaborate with community leaders to identify positive solutions to emerging issues. 

Please let me know if you have any questions about this gift, endowments with BCF, or the Foundation’s other recent efforts. You can read more about the gift on our website.

With thanks,
Chris Quaka
Benton Community Foundation
Reminder: Training for professional advisors on October 24th

The Benton Community Foundation and Oregon Community Foundation invite you to join other professional advisors for this CE program.

"Demystifying Gifts Involving LLCs"
Bill Knox, Director of Technical Consulting, TIAA Kaspick
Wednesday, October 24, 2018

11:30 AM – 1:30 PM
Complimentary Lunch
Courtyard Marriot – Siuslaw Room
400 SW 1st St, Corvallis, OR 97333

Clients and donors are inquiring more frequently about making gifts from and/or of an LLC. Gifts of business interests and gifts directly from business entities can be challenging but they tend to be large and rewarding too. We will discuss valuation, transferability, tax pitfalls and road blocks that can arise with such gifts. Issues of giving an LLC can be complex—especially when LLCs are operating businesses, have large amounts of debt, or are owned by multiple members—but many gifts involving LLCs are straightforward. You’ll learn to evaluate gifts involving LLCs and identify opportunities that may help both the donor and the charity.

Continuing education credits may be available pending application through the Oregon State Bar and CFP Board.

There is no charge for the meal and the program, but we would appreciate your RSVP by October 18th. You may register online here or by contacting BCF at 541-753-1603. 
Copyright © 2018 Benton Community Foundation, All rights reserved.

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