North Valley Community Foundation Record Breaking Fundraising Efforts

Provision Allows for Tax-free Charitable Transfers from IRAs

Chico, CA – Since 1974, millions of Americans have saved billions of pre-tax dollars in individual retirement accounts (IRAs). Thanks to continued savings and investment returns, an estimated $3.6 trillion is currently invested in IRAs, and the total continues to grow. In August 2006, a federal law was enacted allowing IRA owners to share the wealth of their retirement savings by giving directly to charity—without first counting it as income and paying income tax.

Chico, California (September 12, 2007) – Local nonprofit leaders will have the opportunity to participate in a training provided by the North Valley Community Foundation’s Nonprofit Leadership Institute. On September 27, the training topic will be ‘Nonprofit Leadership; a Primer for Boards and Senior Staff.’

Chico, California (July 5, 2007) – North Valley Community Foundation (NVCF) has announced year-end figures for fiscal year 2007. These numbers demonstrate growth in all aspects of its operations. During the12 month period ending June 30, 2007, overall assets increased to $3,424,830 from $2,664,124.. In part this is due to investment returns of 15 percent. However, new contributions totaling $1,128,191have been the most significant factor in this growth. These contributions were directed to many donor-advised or agency-advised funds managed by the Community Foundation.