Funding Longmont Today and into the Future
Live & Give Longmont is a permanent fund that not only generates much-needed revenue for existing nonprofits, but also grows over time to ensure funding well into the future. Since its founding in 2002, the Fund has been able to leverage individual gifts into a larger pool to make the most meaningful impact. The Longmont Community Foundation is relaunching the Fund as Live & Give Longmont to emphasize the critical importance of charitable giving in supporting our neighbors and local community.
The St. Vrain Valley is rapidly growing, and Longmont is poised to become the largest city in Boulder County. As a result of this tremendous growth, our community needs to be ready to assist those nonprofits that support residents with their health, basic needs, and education needs, as well as those that work to improve the aesthetics of the community and overall quality of life through investment in the arts and the environment. Each year, we receive $400,000 of requests for grants from nonprofit organizations, and are only able to fund a fraction of the needs. Check out more at the Live & Give Longmont website. www.LiveAndGiveLongmont.org
How does Live & Give Longmont work?
Live & Give Longmont will grow for future generations while providing immediate benefit to the community today. The annual granting allocation of 5% is less than long-term investment returns, and therefore the fund will grow while it gives back.
The chart below uses actual investment results to show how a gift of $100,000 in 2003 would have funded grants totaling $86,009 by the end of 2014. At the same time, the original endowment would have continued to grow, and would still have a significant balance of $160,133 to fund our community’s future needs.
How are funds distributed?
Every year, almost 100 nonprofits apply for funding from Live & Give Longmont. A dedicated grants committee made up of 15 volunteers, representing diverse backgrounds and interests, spends three months visiting each nonprofit and thoroughly reviewing each application. Each application is reviewed independently by two different committee members. Based on the assessment, the committee determines which nonprofits will be awarded funding, and the dollar amount that they will receive.
Who does Live & Give Longmont support?
Live & Give Longmont benefits four main areas of interest: Arts and Culture, Education, Animals and Environment, and Human Services. Past recipients have included a diverse group of organizations including nonprofits such as the OUR Center, TLC Learning Center, Longmont Museum, and Longmont Meals on Wheels.
How can I support Live & Give Longmont?
There are many ways you can support the fund and help to improve our community:
- Make a cash donation to Live & Give Longmont – online or by mail.
- Set up a recurring monthly or quarterly gift to the Fund, and your credit card will automatically be charged for your contribution.
- Gifts of stock – You may avoid capital gains tax, plus realize a tax deduction, with your gift of appreciated securities.
- IRA gifts – If you are over 70½ years old and need to take your required minimum distribution (RMD) from your IRA, you may contribute your RMD to Live & Give Longmont and may receive a tax deduction. (check with your advisor to see if congress extended the tax provision that allowed Qualified IRA Charitable Distributions (QCD)
- Create a Live & Give Longmont Legacy by including the fund in your will or estate plans.
- Create a named fund that is distributed from each year. Just let us know your area(s) of interest, and the grants committee will determine the appropriate nonprofits to fund. Each year, grants will be distributed using the name of your family or business fund, and you will create a legacy for our community for generations to come.