~Strengthening the foundation of our community by connecting people, resources and needs~

What is the Boyden Community Foundation?

The Boyden Community Foundation (BCF) is a 501(c)(3) qualified tax-exempt entity formed to help benefit the community and its citizens.

BCF provides an opportunity for individuals to target their gifts and make a lasting difference in our community. Donations can be made with a specific designated purpose in mind or can simply be given for the BCF Board to distribute at their discretion. Funds can also be set up bearing the donor’s name, or any other name, for things such as scholarships or endowment funds. Your donation can be publicized or kept confidential, it’s your choice.

Cash, Stocks, Property and other Investments may also be donated.

WHAT ARE THESE DONATIONS USED FOR?

•Help provide seed money for various community projects. •Help provide facilities for public recreation. •Help promote health care facilities.

•Help encourage further educational opportunities for our youth. •Help promote other needs of the community.

WHAT ARE SOME OF THE THINGS THE FOUNDATION HAS BEEN PART OF SO FAR?

•Assumed Boyden Charities operations •Otter Valley Golf course •Boyden Economic Development Corporation •Boyden Library Fund

•New Concession Stand in Centennial Park •Scholarship Fund •Veteran’s War Memorial in Centennial Park

•New Sanford Health Medical Clinic • New wireless scoreboard for Centennial Park

•Splashpad Water Park

WHO HAS USED THE FOUNDATION ALREADY?

•Several confidential donors •Demco •Sig International Iowa, Inc. •Jim Koerselman •Wendell & Caroline Rensink

•Sudenga Industries, Inc. •Sparboe Foods, LLC.

WHO CAN I CONTACT FOR MAKING A CONTRIBUTION?

Any of our Board Members listed below can help you:

Wendell Rensink – President

Ken Hoogendoorn – Vice President

Lori Wolkow – Secretary / Treasurer

Betty Winter - Board Member

Doug Beukelman – Board Member

Bob Koerselman – Board Member

Troy Enger – Board Member

boyden@hickorytech.net or 712-725-2371

WHAT IS A 501(c)(3)?

1. What is a 501(c)(3) organization?
For charities, this means that they can accept contributions and offer donors a tax deduction for their gifts. For donors like you, this means your contributions are fully tax-deductible to the amount allowed by law

2. What is my tax benefit for charitable contributions?
The instructions for the 1040 Form will help determine the exact amount of your deduction, which will vary depending on your tax bracket and whether you file as a single person or jointly. Check with your tax advisor for details.

3. What is the definition of a charitable organization? A charitable organization is generally defined as any nonprofit organization that is incorporated and identified by the IRS as a 501(c)(3) organization. These organizations have been given tax-exempt status and can accept contributions.
NOTE: Not all donations to nonprofits can be claimed as charitable deductions, even if the organization is registered as a nonprofit. Check with the IRS on whether or not an organization can receive tax deductible contributions.

4. How can I take a tax deduction for my donation? To claim a deduction, you will need to fill out a 1040 Form, which is available through the IRS, and itemize your deductions on Schedule A. If you fill out the short form or take standard deductions, you cannot claim your contributions.

5. Do I need a receipt for donations I make? The IRS currently doesn't require receipts for donations under $250, but you do need some documentation, such as a cancelled check. Cash contributions of $250 and over require a receipt which the Boyden Community Foundation will send to you. Contributions of stocks or other property may require an appraisal or other documentation. You should consult your tax advisor for details.

6. Can I take a deduction for volunteering my time and services?
You cannot deduct the value of time or services given to a charitable organization, but you can deduct any hard costs associated with that volunteering, such as the gas or bus fare it costs to get there. For example, if you volunteer in a charitable hospital and have to wear a uniform, you can deduct the cost of buying and cleaning the uniform. Your friends at the IRS will let you deduct any out-of-pocket expenses you incur in the course of volunteering.