Donor spotlight: Jim and Twila Hendrix Family Fund

    The Jim and Twila Hendrix Family Fund is part of the Eastern Colorado Community Fund portfolio, which is a grouping of all funds designated to benefit communities and charitable organizations in our region. All funds are managed by the Community Foundation of Northern Colorado, a 501(c)(3) public charity.
    The following is a Q & A with Jim Hendrix regarding the Jim and Twila Hendrix Family donor-advised fund.
    Why did you establish a donor-advised fund with the Eastern Colorado Community Fund?
    I have served on the Board of the ECCF since its earliest beginnings. There is a need to help self-fund projects in our region. Wealth has been generated by multiple generations of families in the area through stewardship of land, small business success and extraction of mineral resources. If we want to maintain viability of our towns and communities, there must be a giving back to help sustain a quality of life we have all enjoyed. We are seeing one of the greatest transfers of wealth in our country’s history, as the greatest generation and baby boomers transition to the next stage of life. Many of those assets put to productive use by the preceding generations are being sold, and the heirs often do not have ties back to the local communities.
    What services does the ECCF offer to your family and your fund?
    The establishment of our donor-advised fund allows our family to make grants to various causes in the area. Gifts can be made anonymously, and there is not the requirement of a minimum distribution each year as opposed to a private foundation. We were able to donate a universal life insurance policy to the ECCF, receive a tax deduction for our cost basis and have the proceeds invested in the fund for future growth. We will use our family fund to encourage multiple generations of our family to be involved in philanthropy.

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