Category Archives: Charitable Organizations

More than $8 million to be Distributed to Area Charities

During October, the Oklahoma City Community Foundation will distribute more than $8 million in endowment earnings to nearly 360 charitable organizations through the largest program of its kind in the nation.

“Our charitable organization endowment program offers area charities with the opportunity to create a permanent, sustainable source of funding,” said Nancy B. Anthony, President. “These funds also offer a simple way for donors to make a lasting contribution to support organizations they care about.”

The Community Foundation’s administers nearly 360 permanent endowments through the program that benefit a wide range of charitable organizations serving the community in areas such as education, health care, social services, arts and culture and animal welfare. The endowment funds are invested for growth and a percentage of the fund is distributed back to the organization each year.

“Establishing an endowment fund at the Oklahoma City Community Foundation is a simple way for us to receive dependable financial support for our program,” said Sara Jacobson, executive director for Children’s Hospital Volunteers. “In addition, we now have so many giving options at our disposal, allowing us to offer our donors more ways for them to help and leave their legacy.”

To learn how you can make a gift to a charitable organization endowment, visit occf.org/coegift. For a list of all endowment funds, click here.

A Higher Degree of Giving

Endowment gifts provide lasting support for local charities

Steve Kamm with students
Retired professor Steve Kamm used an IRA Charitable Rollover gift to create an endowment for Oklahoma City Community College international students.

After living and studying abroad during his own college years, Steve Kamm understands the unique challenges faced by international students. During his 39 years teaching at Oklahoma City Community College (OCCC), Steve’s experiences traveling the world helped him connect with students from other countries and they naturally gravitated toward his classes. Although Steve retired in 2011, he continues to help international students through an endowment fund he established at the Oklahoma City Community Foundation.

“When I learned that most financial aid programs are not available to international students, I wanted to find a way to help,” Steve said. “My financial advisor suggested the Oklahoma City Community Foundation.”

By working together with our development director, Joe Carter, Steve is achieving his goal of supporting students now and well beyond his lifetime. Steve established a charitable gift annuity that yields annual payments to him. After his death, the remaining value in the annuity would establish the Kamm International Student Fund to support awards for international students attending OCCC.

While Steve liked the idea of receiving an annual income from his gift, he also wanted to help students during his lifetime. Once Steve turned 70 ½, his tax situation changed and he was able to utilize the IRA charitable rollover provision to create the Kamm International Student Fund now, instead of after his death.

“Everyone my age realizes when you turn 70 ½, you are required to take a minimum distribution from your retirement account,” Steve said. “By making an IRA charitable rollover gift with those funds, I didn’t have to pay taxes on the distribution and I could begin helping international students now through the endowment fund.”

The Kamm International Student Fund distributes annual funding to OCCC, enabling the college to present the first award for international students this spring.

“International students add so much to the OCCC community,” said Randy Cassimus, OCCC acting director of development. “Their experiences and willingness to share their perspectives help broaden vistas for classmates who, quite literally, may have never traveled beyond the state line. We are so grateful to Mr. Kamm for the philanthropic action he has taken to further enrich life experiences for all of our students.”

Learn how you provide lasting support to any of the 360 charities with endowment funds at the Oklahoma City Community Foundation in our recent Charitable Organization Endowment Program Review below. To learn more about our tax-wise giving options like an IRA Charitable Rollover gift, contact Joe Carter at 405/606-2914.