FUND DETAILS
The Gig Harbor Land Conservation Fund Advisory Board chose to place this fund with the Greater Tacoma Community Foundation. This partnership enables all donations to be tax deductible to the fullest extent of the law. We spent a great deal of time on the decision to house the GHLCF at the Tacoma Foundation and did so for a variety of reasons, including the fact that it's been a respected entity for over 40 years, it manages over 500 funds and over $100 million dollars in assets and is an outstanding community partner throughout our area. They already manage funds for many area non-profits including the Harbor History Museum, the Key Peninsula Civic Center Association, the YMCA and they managed the fund for Gig Harbor Now (newspaper) until it was ready to mature into its own 501(c)(3). We checked references and heard only glowing reviews!
Working with a professional foundation like the Greater Tacoma Community Foundation (instead of becoming a stand-alone non-profit) made the most sense for transparency, accounting, reporting purposes and cost efficiency. It means that almost 100% of donor funds will be used in property purchases (the GHLCF has no staff or overhead costs itself). Thanks to the expertise of Foundation staff, we are also able to accept complex and planned gifts.
It was important for the Gig Harbor Land Conservation Fund to have local, community-based decision making authority. All decisions for GHLCF funding allocations, including property choices and grant amounts, will be the responsibility of the GHLCF Advisory Board. We welcome, and will solicit, input from our community and look forward to keeping the community well informed!
Our Budget
Our budget is very simple because our priority is getting dollars out the door to conserve important properties.
- 98.75% of all donations are held in the GHLCF for the sole purpose of investing in property conservation projects.
- 1.25% of all donations goes to Greater Tacoma Community Foundation, which manages our fund, provides accounting services, donor acknowledgement with 501(c)(3) information for tax purposes, etc.
- Any operational funds required to promote the fund (logo creation, this website, printed materials, supplies, event supplies/costs, etc.) are donated by the Advisory Board. We welcome anyone willing to donate (not tax-deductible) to assist us in our efforts.
How Our Fund IS Invested
The Fund is invested in Short Term Investments. Priority-type open space and critical habitat properties are disappearing fast and it is our goal to get funds out the door as quickly as possible to conserve what we can.
Building A future Endowment
The Advisory Board recognizes that time is of the essence with the extensive development happening in the Gig Harbor area. We have no desire to "sit on funds" and have a huge balance - we measure our success in the number and quality of properties conserved. That being said, the Advisory Board also has a long-term vision. We will be launching an endowment fund when the time is right and when funds allow. If any prospective major donors and donors intending to give planned gifts would specifically like to donate to an endowment fund, please reach out to ghlandfund@gmail.com. We are excited about the long-term future of conservation in Gig Harbor.
Greater Tacoma Community Foundation
The Gig Harbor Land Conservation Fund is established as a Donor Advised Fund in order for our community to have decision-making authority in regards to the use of the Fund. This is the standard disclaimer:
“As a fund of Greater Tacoma Community Foundation, GTCF has the authority to redirect distributions from the Gig Harbor Land Conservation Fund if it becomes necessary to protect donor intent. Greater Tacoma Community Foundation (Tax ID #91-1007459) is located in Tacoma, WA and is registered with Washington State’s Charities Program. Additional information about GTCF’s status is available by calling 800-332-4483 or visiting www.sos.wa.gov/charities.”