An affiliate fund is a fund that is recognized publicly as a separate community foundation in an outlying community. It is structured under the umbrella of a larger community foundation that does the back-office work and provides support to make it possible for smaller communities to have their own community foundation in a cost effective and efficient manner.
At the Community Foundation of Western Nevada, we have had conversations about affiliate funds with communities and counties across northern Nevada, Recently we have begun to reach out in an intentional and deliberate manner to be sure those communities we serve are aware they can create a community affiliate fund to increase meaningful philanthropy in their regions.
We are in a much better position to help with this than we were in the past. Over the years we have developed dozens of relationships with people in rural Nevada, including professional advisors, community elected officials, business owners, opinion leaders and donors who have set up current and legacy funds. Our staff has grown, and we are working to expand our board representation to include all of northern Nevada.
There is another very important reason to do this outreach. For many years Nevada rural communities have seen their young people move to other cities and states as they go to college and seek life’s opportunities. “Youth drain” has an adverse economic and social impact on the community. It also directly impacts the community through the loss of wealth as older family members pass away and their assets in the local communities are distributed to heirs who live outside the region. A terrific article was published link at this link: http://dakotafire.net/land/rural-wealth-makes-a-quiet-exit/5307/ This “transfer of wealth” out of rural communities exacerbates the challenges the small towns already face.
Tracy Turner, Chief Philanthropy Officer, is helping lead the charge by engaging community leaders throughout rural Nevada in a conversation about creating town affiliate funds. If this is a particular interest of yours, please give Tracy or me a call at 775-333-5499.
Chris Askin, President and CEO