National Exchange Club Foundation Information
Post date: Oct 26, 2014 4:06:54 PM
By Dennis G. Koch, National Exchange Club Foundation President
Without trying to get too technical, for "tax" purposes, the National Exchange Club and all of its districts and local clubs are what is known as 501(c)(4) organizations under the Internal Revenue Code. This means that they are tax exempt organizations, but donations to them are not tax deductible. As a result, The National Exchange Club and many of the districts and local clubs have established foundations [501(c)(3) organizations] to accept charitable contributions.
What started out as two separate foundations - first the educational foundation and later the foundation for the prevention of child abuse - were later merged to create the National Exchange Club Foundation (NECF). The primary mission of the NECF was to administer Exchange's child abuse prevention efforts and raise money. In 2012, the National Board of Directors and the NECF Board of Trustees made the decision to move the child abuse prevention activities to the National Exchange Club as part of our programs of service, leaving the NECF with the primary mission of raising and providing resources for the National Exchange Club and all of its programs of service, including child abuse prevention (CAP).
The NECF raises funds by searching for corporate sponsorships, grant opportunities and new initiatives to reach out to the general public such as the MegaRaffle, Giving Tuesday and the Constructive Challenge. Our largest potential source of new revenue, however, is our membership.
Notwithstanding the portion of dues that are used to fund our CAP activities and the clubs who support the Campaign for Kids and Oceans Campaign for which we are most thankful, only 4% of our membership contributed to our Foundation last year. We are blessed with some very generous donors who have contributed to the NECF over the years, but not everyone has the resources to give at those levels, or even become a Berkey Fellow with a $1,000 endowment gift. But if each of Exchange's 19,000 or so members gave just $1 a month - the price of a Coke at McDonald's - our Foundation would have nearly a quarter million new dollars – $1 a week would generate $1 million.
With that kind of money, Exchange could afford to assist CAP centers in financial crisis, increase the amount or number of youth scholarships that we award or even start a national marketing campaign for Exchange. The options are only limited by our imaginations.
The work we do in Exchange is important to the communities we live and work in, and the funds that we raise as local clubs provide the basis for a lot of that work. What sometimes goes unnoticed, though is the importance of the work done by the National Exchange Club and the Districts in support of the clubs and our members. Whether its branding, training, insurance or just general support, every Exchangite should consider a tax deductible contribution to support our Foundation.
You can make a contribution on the website at www.exchangeclubfoundation.org/donations.htm or by mail to the National Exchange Club Foundation, 3050 Central Avenue, Toledo OH 43606. If you are interested in more information on the Berkey Fellowship program or ways that you can benefit Exchange while receiving a guaranteed annuity, please contact me at firstname.lastname@example.org, any of the other NECF Trustees or the National Exchange Club at (419) 535-3232.
Thank you in advance for your support of our Foundation!
Dennis G. Koch, President
National Exchange Club Foundation