Annual Report
A Dynamic Year of Growth in Our Community
As of January 1, 2011 the Monmouth-Independence Community Foundation had $384,068.38 in its endowment and non-endowment accounts. This is up from $306,964.34 from January 1, 2010.
Since its founding in 2000, the Monmouth-Independence Community Foundation has distributed more than $244,000 for charitable purposes in the Monmouth-Independence community. Part of this money came from contributions of citizens and businesses in our community. And part came from outside of our community because of the Monmouth-Independence community foundation's unique status as a federally recognized charitable foundation.
Funds distributed include:
Central School District for its multicultural literacy program, Project Adelante: $112,300. Central School District for its Classroom Enrichment Program: $27,850 College and Vocational Education scholarships for graduates of Central High School: $17,000. Independence Public Library: $7,800. City of Independence, Amphitheatre restoration: $1000. City of Monmouth Sesquicentennial: $2500. City of Monmouth/Monmouth-Independence Rotary Club Main Street Park Foundation Project: $6,500 City of Independence, John Pfaff Park, $9500 Ash Creek Shelters, $5600. We received these funds by personal solicitation through payroll deduction plans of area employers, through the city of Independence Utilities Rounding Program which allows Independence utilities customers to overpay their utility bills with the surplus going to the Foundation and by grants from charitable organizations within and without the community.
The Monmouth-Independence Community Foundation maintains an ongoing perpetual Endowment Fund for its principal beneficiaries. The beneficiaries and the balance (as of Jan 1, 11) in each fund are:
Central High School College and Vocational Education Scholarship fund: $68,578.23. Central School District Classroom Enrichment Program: $115,810.12. Independence Public Library: $67,550.28. Monmouth Public Library: $5,439.38. Independence American Legion Charitable Activities Fund: $2,050.48. Polk County Historical Society, $16,782.59. Monmouth Bicentennial 2056, $2,629.23. Independence Police Benevolent Fund, $13,996.21
Monmouth Independence Rotary Endowment Fund $3,150.00
The foundation has also a partnership arrangement for management of funds for the charitable activities of Independence American Legion Post and the Polk County Cultural Coalition.
The Foundation is a partner with the Oregon Cultural Trust. Those who contribute both to the Monmouth-Independence Community Foundation and the Oregon Cultural Trust may claim a deduction for tax purposes of the gift to the Community Foundation and a total Oregon income tax write-off (maximum $500 for individual, $1000 for married tax-payers) for contributions to the Oregon Cultural Trust.
Further information is available from the foundation. Click here to contact us .
