Foundation Receives Final Endorsement On Merger Completion

Dubois County, November 11, 2013:  At the November 7th Board of Director’s meeting, the auditing firm of Buechlein & Associates, P.C. reported that the independent audit of Dubois County Community Foundation, Inc., has been completed.    The audit of the period, which included the merger of Huntingburg Foundation, Inc., resulted in a clean opinion.   Furthermore, Mark Buechlein, C.P.A., managing shareholder, noted that the tax filings with the Internal Revenue Service and Indiana Department of Revenue for the period including the merger have been made.

In addition, a letter from the Council on Foundations indicated the Community Foundation remains in compliance as previously accredited by the Community Foundation National Standards Board and its reciprocal compliance with the Indiana Standards process.

National and Indiana Standards guide the sound policies and practices for community foundations.  Intended as a blueprint for internal organizational development and as a tangible set of benchmarks for external assessment of performance, the National Standards address accountability, transparency and continuous self-improvement by community foundations across the nation.

“We are so pleased that through the vision and dedication of two groups coming together, we’ve opened the door on numerous opportunities in our community,” said Bill Kaiser, Board President of the Foundation. “We’re spending more time with our donors and nonprofits, really extending our reach in Dubois County,” he said.

The Board of Directors heard reports about current activities, which included continued growth to its $21.7 million in charitable endowments with contributions exceeding $1.2 million since January 1, 2013.

The Foundation continues to sharpen its ability to serve as a partner with local nonprofits and community development thru the certification of three staff in Fund Raising Management, through the Indiana University Fund Raising School, training that came underwritten by Lilly. In addition, a recent grant of $40,000 was provided by Smithville Charitable Foundation to endow the Community Foundation’s BetterTogether Initiative, which focuses on sound board governance and local nonprofit development.

“Not only is our grantmaking having county wide impact, but we’ve revised our investment strategy which will allow us to work more closely with our local banking institutions, including Springs Valley Bank & Trust, Old National Bank and German American,” Kaiser said. “We feel very positive about how our role in the community is evolving and are confident in the growth of our organization,” he said.

The Community Foundation is wrapping up nearly $500,000 in grant distributions from its endowments for the year, bringing its historic grant totals to over $8.5 million invested back in Dubois County.