New Bremen Foundation | Frequently Asked Questions

The New Bremen Foundation is a publicly supported, tax exempt charitable organization established in 1996 for the benefit of New Bremen and the immediate area. Donated funds may be designated to provide support to local scientific, literary, educational, religious, governmental and other organizations matching the wishes of the individual donor.

What is the purpose of the New Bremen Foundation?

The major purpose of the New Bremen Foundation is reflected in the foundation’s mission statement below:
“The New Bremen Foundation is dedicated to attracting and investing in a permanent endowment for the betterment of the community and enhancing the quality of life of its citizens.”

Who governs the New Bremen Foundation?

The New Bremen Foundation Board of Trustees consists of five knowledgeable and dedicated New Bremen citizens. The trustee members represent a diverse group of individuals, who have extensive business experience, expertise with charitable giving and a broad understanding of the New Bremen community. The Board of Trustees oversees the operations and policies of the New Bremen Foundation.

Why donate to the New Bremen Foundation?

Giving to any charity and to others in need is certainly a wonderful expression of human generosity. However, giving to the New Bremen Foundation ensures ongoing support for long-term community solutions, provides the ability to respond quickly to emergencies, and provides a way to meet the ever-changing social, cultural, educational, and environmental needs in our community.

Why donate to the Unrestricted Fund?

Donating to the New Bremen Foundation Unrestricted Fund today is a way of ensuring that essential resources will be available for future generations to use for long-term community improvement. The value of this type of fund is perpetual and will be managed by a skilled group of community leaders. The flexibility of your unrestricted gift enables the New Bremen Foundation Trustees to respond to the community’s most pressing needs, today and tomorrow.

How does the New Bremen Foundation invest fund dollars for growth?

The New Bremen Foundation utilizes the U.S. Bank of Troy in Troy, Ohio and its investment specialists to invest donor’s funds.

What is the advantage of the New Bremen Foundation over a private foundation?

The New Bremen Foundation provides an array of services to donors who wish to establish endowed giving without incurring the administrative and legal costs of starting and operating a private foundation.
In addition to being highly-regulated by the Internal Revenue Service, private foundations are subject to numerous special restrictions, including administrative and reporting burdens, excise taxes and a required minimum payout every year. By affiliating with the New Bremen Foundation, a family foundation may avoid being subjected to these rules and compliance requirements and better utilize the family foundation’s resources for greater charitable purposes.

What are the financial benefits and tax advantages of gifting through the New Bremen Foundation?

The New Bremen Foundation is a public charity. Donations qualify for the maximum available deduction for charitable contributions in the year the gift is made. The New Bremen Foundation can also offer solutions to help reduce your estate tax liability. When donating appreciated stock, for example, you can receive a tax deduction for the full fair-market value of the stock on the date of the gift, and avoid paying capital gains tax on the increased value.

Can other people contribute to my fund?

Yes. Some donors suggest to their friends and family that they give to their fund in honor of a special event, such as a birthday or anniversary, instead of purchasing a gift.

I would like to give something to my favorite charity, but I’m not rich. Don’t I have to be wealthy to establish a fund through the New Bremen Foundation?

No. Anyone can be a philanthropist. It does not require great wealth, just a concern or willingness to help others or a particular cause. It also does not have to be complicated. We offer a variety of flexible, tax-advantaged giving tools and options to accommodate your philanthropic objectives. You can open a donor advised account with just a $1000 donation. Any dollar amount can be donated to an account that has already been established.

Is there a fee to establish a fund?

No. There is no cost to establish a fund with the New Bremen Foundation.

Can I give anonymously?

Yes. You can decide whether you want to be recognized for your giving or to remain anonymous. You can feel secure in knowing that your personal information will be kept in confidence.

How often can I get a copy of my fund statement?

Your personal fund statements are made available each quarter.

How can non-profit organizations apply for discretionary grants?

Grant applications can be requested from Brad Smith at P.O. Box 97, New Bremen, Ohio 45869.

Who is eligible for a grant?

We welcome grant applications from local not-for-profit organizations that benefit citizens of New Bremen and the surrounding areas. To be eligible for a grant, your organization must:

be recognized as tax-exempt under Section 501(c) (3) of the Internal Revenue Code,
benefit the citizens of New Bremen or the surrounding area,
have a diversity/inclusion policy and
address needs that are not met fully by existing organizational or community resources.

Who decides which organizations are awarded grants?

The New Bremen Foundation Board of Trustees reviews grant applications twice a year. The Grant Committee will make recommendations to the trustees, who will then make the final grant decisions.

Where does the New Bremen Foundation get the resources to fund discretionary community grants?

Money donated to the New Bremen Foundation Unrestricted Fund provides the Foundation with vital capital for discretionary community grants. This Fund enables the Foundation to address the greatest community needs and take advantage of emerging opportunities. These donations are important for the support of many local non-profit organizations.

I’m not a member of a non-profit organization; I’m just a person who needs some extra help. Can I apply for a grant?

The Foundation makes discretionary grants to qualified 501(c) (3) non-profit organizations within the New Bremen and the surrounding area. The New Bremen Foundation is unable to award grants to individuals, except in the case of scholarships, which are awarded directly to the educational institution on behalf of a student.

What is a 501(c) (3) designation?

501(c)(3) refers to the specific section of the Internal Revenue Code that defines a non-profit organization. For more information on the Code and how to obtain a 501(c)(3) designation, contact the Internal Revenue Service.