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BBB Charity Review for
The Greater Pinebelt Community Foundation

A BBB Accredited Charity since 8/12/2010

 

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The information in this report has either been provided by the charity, or has been compiled by BBB from other sources.

Charity Contact & Profile

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Business Name:
Business Address: 1507 Hardy St., Suite 208
Hattiesburg, MS 39401

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Type of Entity: Charity/NonProfit
Principal:
Phone Number:
(601) 583-6180
Email Address:
Type of Business:
CHARITY - LOCAL
Primary Email: terickson@bellsouth.net
Website Address:

Evaluation Conclusions

This organization has been evaluated in relation to the 20 Better Business Bureau Standards for Charitable Accountability. This organization meets all those standards.

Mission

Building Better Communities through Philanthropy.

Programs

The Greater Pinebelt Community Foundation "partners with donors to build better communities".  The PineBelt Community Foundation exists to strengthen communities by connecting charitably minded people to causes that matter most to them. As a driving charitable force in our region, their mission is to build better communities through philanthropy. Donors can establish charitable legacies and provide leadership to address community needs in a manner that is responsible, responsive and lasting.

Facts on Community Foundations:

•There are 700 community foundations nationwide holding roughly $35 billion in assets; they make up one of the fastest growing sectors of philanthropy in the US today.

•Community foundations share the common goal of serving donors, nonprofit organizations, and the community as a whole. They serve as a vehicle for charitable giving through which individuals, families, corporations, non-profit organizations, and private foundations meet thier charitable objectives.

•Community foundations offer donors many services and benefits. They routinely work with families, individuals, attorneys, and estate and financial planners to design gift plans that fit every economic situation, ensuring that donors receive the most benefit from their charitable contributions and that their philanthropic dollars are used to the fullest extent.

•GPCF works with their donors to make sure the Fund they establish meets their charitable wishes.

•Community foundations accept gifts of various sizes and types from private citizens, corporations, government agencies, and other foundations. Nearly every type of gift—including real estate, closely held stock, and artwork—can be contributed to a community foundation. Gifts are made from bequests and by living donors through various types of funds and deferred giving vehicles.

•Any individual can contribute any amount of money to the Community Foundation. The Foundation invests the gifts for growth and income and uses a payout amount to make grants that will strengthen the community. The donor may choose to stay actively involved with grant making or leave that function to the Foundation.

•Your local Community Foundation is governed by a local Board of Trustees comprised of community leaders. Operating expenses are paid from individuals and corporations who have partnered with them and from management fees.

Governance

Board Size:34
Paid Staff:4

Fundraising Methods

The PineBelt Foundation accepts a variety of gifts, including cash, stocks, life insurance, property, and bequests, providing donors great flexibility and maximum tax benefits. Experts assist with more complicated gifts.

The PineBelt Foundation’s investment committee has selected Vanguard, one of the world’s largest investment management companies, to provide cost-effective and efficient management of its affiliated funds’ assets.

Financial Summary

According to the IRS Form 990 for the Fiscal Year ended 12/31/2011:

Total Income $1,182,100.00
Total Expenses $1,067,290.00
Gain/Loss for the Year $114,810.00

Expense Breakdown
Item Amount % of Expenses
Programs $914,616.00 85.70%
Fund Raising $68,827.00 6.45%
Administrative $83,847.00 7.86%
Miscellaneous $0.00 0.00%

Income Breakdown
Item Amount % of Income
Contributions $1,134,389.00 95.96%
Program Service Revenue $4,163.00 0.35%
Sale of Non Inventory $9,680.00 0.82%
Dividends $33,349.00 2.82%
Other Investments $519.00 0.04%

This report is not to be used for fundraising or promotional purposes.

Additional Information

Typical Donor Profile Donors to the Greater PineBelt Community Foundation represent the full diversity of our community. The fundamental desire is to improve the quality of life now, and for future generations. The Foundation provides a mechanism to manage and distribute charitable assets. Personal Donor Benefits Donors establishing funds with the Foundation achieve a number of special and personally rewarding benefits. Establishing a fund assures permanent stewardship, efficient administration, and the opportunity for donors to remain active participants in their philanthropy. Becoming a Foundation Partner is also an effective method of enhancing your personal impact on the community through the Community Foundation. Detailed information concerning this significant opportunity is available on the Partners page. Foundation Advantages The Foundation allows charitable organizations, including churches, to develop endowments without the necessity to create their own foundations. It also provides individuals with a process to create donor-advised accounts, which is similar to establishing an individual private foundation. Once the fund is established, donors can enjoy their philanthropy without administrative concerns. The Foundation handles investments, grant paperwork, government reporting, accounting, and foundation audits. Tax Considerations There are attractive financial incentives for creating a fund at the Greater PineBelt Community Foundation. The Foundation is a not-for-profit public charity, which gives donors the maximum tax deductibility on contributed assets.

Customer Complaint History

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BBB has processed no customer complaints on this charity in its three year reporting period.

Government Action(s)

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BBB has no information regarding government actions at this time.

Advertising Review

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BBB has no information regarding advertising review at this time.

Additional Information

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Partners of the Foundation Opportunity In order to meet the annual needs of the Community Foundation's day-to-day operating budget, a new prestigious giving level for Partners of the Foundation has been established. The annual Partners commitment is $750 for Individual or Family Partners and $1,500 for Corporate Partners. The annual Partners commitment will begin on October 1 and end on September 30 of each year. Partnerships are payable annually or semi-annually. Partners support will provide the opportunity to redirect the administrative fee, currently used for day-to-day operations of the Foundation, and use these funds to award grants to nonprofit organizations in the Pine Belt Region of Mississippi. A committee, appointed by the Foundation Board of Directors, will review grant proposals and make grant awards.

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Report as of: 11/23/2014
Copyright © 2014 Better Business Bureau®, Inc. serving Mississippi

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