BEAM to meet with community

BEAM, Building Excellence Advancing Marshall, is planning a meeting with the community in October.

The Marshall County affiliate of CREATE Foundation, BEAM, has set its board, already given two small grants, and is building momentum to enlarge its foundation and its special fund.

The special fund is used to provide small grants to nonprofits and sometimes public groups such as local governments.

The full board of directors met Aug. 12 with P.K. Thomas, director of development at CREATE, to discuss how counties organize their affiliates and their giving.

BEAM is solidifying its organizational foundation and elected William Scott as vice-president. He will preside when Steve Gresham is unable to attend meetings.

Several meeting places were discussed for the October community meeting which will also serve to attract donors.

A community presentation will be part of the gathering that will include individuals and local businesses in Marshall County.

The board of directors will invite up to as many as 100 individuals to gather to learn more about how BEAM operates to accept donations that can be used to both increase the wealth of the affiliate's foundation and also provide seed money for small grants that can be applied for.

BEAM expects to take applications for small grants in the fall and fund a few in the new year.

The community meeting is by invitation only. A 30 minute networking will be held prior to the program.

"This is not about CREATE, but what you are doing," said Thomas.

CREATE will help send out invitations.

CREATE lets affiliates draw down a 4 percent spending allocation from the BEAM Endowment to fund small grants. If the affiliate does not choose to fund small special projects, it can put the money back in its foundation fund.

Scott asked if someone can specify how they want their endowment spent.

"The simple answer is no," Thomas said. "If the board would like to give the donor a say in where the money goes, the gift from the donor should be put into the special project fund.

Thomas said the state allows tax credits to donors, a tool used to build endowments. There are a limited number of tax credits. If a person applies for the tax credit, they are not committed to gift the foundation if a tax credit is not available.

The state sets aside tax credits to be given donors up to $500,000 a year to a minimum of $1,000, Thomas said.

For every $25,000 deposited into BEAM's account, $1,000 can be spent on grants.

"The endowment should never decrease in value with the 4 percent policy," Thomas said.

Board member Gemma Beckley asked to make it clear who can apply for grants, would it be restricted to 501c3 non-profits or could other groups apply.

Thomas said if it is not a non-profit, the individual or group can apply through CREATE.

Beckley said requiring a 501c3 status narrows the field of applicants.

Municipalities can apply for grants to buy something like playground equipment, Thomas said.

"You are loosening the reins when you do that," said board member Larry Hall.

Sawyer suggested BEAM join the Chambers of Commerce to promote the affiliate.