Coralville Community Fund

Organized in January 2006, the Coralville Community Fund is an affiliate of Community Foundation of Johnson County. The community celebrated the launch of its Community Affiliate and fund-raising initiative with a reception at the Coralville Marriott Hotel and Conference Center in October 2006.

WHAT'S THE PURPOSE OF THE FUND? The purpose of the Fund is to build an endowment that will help to assure future financial support for a broad range of existing and future charitable needs throughout the City of Coralville. "The Fund plans to build, invest, and distribute funds for local nonprofit projects of impact to the residents of the Coralville community," according to Keith Jones, who chairs the Coralville Community Fund. "The Fund's mission is to build an endowment for the greater community good - for good . . . for ever . . . for Coralville"

In its first two years, the Fund awarded a total of $6,500 in grants to Coralville Family Resource Center, City Circle Acting Company of Coralville, Babe Ruth Baseball Organization, Johnson County Historical Society, Children's Museum, Coralville Library, Coralville Central PTO, and Safety Village. As the endowment fund grows, more and larger grants will be possible.

• WHY SHOULD I CONTRIBUTE? The primary reason to contribute to the Fund is to help meet the broad range of future charitable needs in the community. Contributions to the Coralville Community Fund may be made either to the Charitable Giving Fund or the Endowment Fund. The Charitable Giving Fund is something like the community's checkbook. Donations to the Charitable Giving Fund are fully tax deductible, and donors may direct their gifts to specific projects, such as the current Coralville Center for the Performing Arts campaign (see below).

• The Endowment Fund is more like the community's savings account. These donations are also fully tax deductible and qualify for a special bonus of a 20 percent Iowa income tax credit - a $2,000 tax credit for a $10,000 contribution! This bonus is only available for contributions to community foundations, and the Coralville Community Fund is part of the Community Foundation of Johnson County. The Endowment Fund is managed to preserve the principal and create growth over time. Most of each year's earnings are reinvested, and part of the earnings will be used to make grants to qualified nonprofit community organizations.

CORALVILLE CENTER FOR THE PERFORMING ARTS. Coralville has launched a $1.2 million fund-raising campaign to furnish, equip, and endow the new Center for the Performing Arts, the new community auditorium/theater that will be constructed at the corner of Fifth Street and 12th Avenue, right next to the expanded Coralville Library. Contributions to the Center's Charitable Giving Fund will help to furnish and equip the Center and contributions are fully deductible for income tax purposes. Later contributions to the Center's Endowment Fund will help to subsidize operating costs in the future so that affordable rental costs can be maintained. Again, contributions to the Coralville Community Affiliate Fund for the Center for the Performing Arts are fully deductible, and qualify for the 20 percent Iowa income tax credit!

CORALVILLE COMMUNITY AFFILIATE FUND FOR THEE CENTER FOR THE PERFORMING ARTS FOUNDERS. The 30 persons and organizations that contributed $1,000 or more to the Endowment Fund by March 31, 2007, are recognized as Founders of the Fund. Gifts by the Founders added more than $50,000 to the Endowment Fund, a major step in building the Fund for the future good of the Coralville community.

The Founders are: Stephen and Tanya Alford; Thomas Barbee; Rex and Michele Brandstatter; Jim and Carol Fausett; Kelly and Nancy Hayworth; Henry and Sandra Herwig; Hills Bank & Trust Company; Michael and Julie Hodge; Iowa State Bank & Trust Company; Keith and Connie Jones; Michael and Delores Kattchee; Jean Kaelber; William Laubengayer and Eve Casserly; Mark and Allison Law; John and Diana Lundell; Dean Moore; Marvin and Cheri Nicola; C. Allan Poots and Jennifer Kniebyl; David and Noreen Revier; Dell and Mary Richard; Jean Newlin Schnake; Charles and Marilyn Skaugstad; Charles and Sheryl Skaugstad, Jr.; Dolores Slade; Lynn and Robert Snyder; D. C. Spriestersbach; Stanley, Lande & Hunter; Suzanne Summerwill; Tom and Jan Vrban; Stephen and Victoria West; and Herb and Janice Wilson.

BOARD OF TRUSTEES. Coralville Community Fund Board of Trustees are: Keith Jones, chair; Rex Brandstatter, vice chair; Lynn Snyder, treasurer; Chuck Coulter, secretary; Dan Ciha, Tami Gorvin, Henry Herwig, David Revier, Chuck Skaugstad, Jr., Dolores Slade, Suzanne Summerwill and Deanna Trumbull.

For more information, contact the Community Foundation of Johnson County, at 319-337-0483.