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IRA gift supports fund celebrate the arts
Martha Moore Sykes made a difference for the arts community she loves in 2006, with a gift to establish a permanent Field of Interest Fund. The Martha Moore Sykes Fund for the Arts benefits organizations that are promoting arts and culture at the grassroots level and working to provide access to the arts to all members of the community.
These goals have been part of this donor's grantmaking since 1996, when she first established an advised fund at The Community Foundation.
"I think the Community Foundation knows what I'm interested in," she said, reflecting on conversations she has had over the years with Community Foundation staff. "The arts are so versatile and so volatile, but I trust the Community Foundation to make grants where I would have liked to."
The original plan was to set up this Field of Interest fund after her death, using funds from her estate. When the 2006 Pension Protection Act provided a new way for individuals 70 and older to transfer IRA assets for charity, she decided to make the first gift to start the fund then.
"The Community Foundation has made many grants to the arts during our history, such as funding for the Cultural Master Plan," said Kate Nielsen, president of the Community Foundation."We know that the arts will always be important to the fabric of this community, so we appreciate Martha Moore Sykes initiating this effort. Changes in the tax law enabled her to fulfill this dream she has had, and to do it during her lifetime."
The Martha Moore Sykes Fund for the Arts continues to make grants, year after year, in her name. In addition to her own planned estate gifts, the fund will grow through investments, as part of the endowment of the Community Foundation, and through additional gifts in her honor. Gifts can be made on line through the DONATE NOW button on this site.
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