2023 Summit Foundation, Spring Newsletter

The Spring 2023 Newsletter is here! Get the stats on how our economy affects our nonprofits. Learn about our exciting new special initiative, Project Thrive. Understand the powerful impact of "Giving while Living" and the 5 tax savvy strategies that make it financially advantageous. Check out all the good your support provides for the future of Summit County youth and meet our new Director of Development. All that and a calendar of events so you can make summer plans in the latest edition of the Summit Foundation Newsletter.

The Spring 2023 Newsletter is here! Get the stats on how our economy affects our nonprofits. Learn about our exciting new special initiative, Project Thrive. Understand the powerful impact of "Giving while Living" and the 5 tax savvy strategies that make it financially advantageous. Check out all the good your support provides for the future of Summit County youth and meet our new Director of Development. All that and a calendar of events so you can make summer plans in the latest edition of the Summit Foundation Newsletter.


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Food for Thought | Project Thrive<br />

Giving While Living | Meet Owen Dodd<br />

Doing Good Doing Well | First Tracks<br />

Scholarships | Bright Future<br />

Photo Credits: Joe Kusumoto Photography

FOOD<br />


Do you worry about running out of food before your<br />

next paycheck? Or make tough decisions like whether<br />

to pay your rent or get groceries for your family?<br />

A 2020 national study indicated that for one in ten<br />

<strong>Summit</strong> County residents, hunger is a normal part of<br />

life (Feeding America, 2020). With the impact of the<br />

pandemic and recent inflation, that number is likely<br />

even higher today.<br />

Cost of living and rising inflation impacts not only our<br />

workforce and their families, but also the non-profits<br />

that help people make ends meet. The Family &<br />

Intercultural Resource Center (FIRC), for example,<br />

reports a 116% increase in the number of people<br />

visiting the food market this year over last, and they<br />

are typically serving almost 500 households per week.<br />

FIRC has made an effort to provide more healthy and<br />

fresh food, which is so critical for the health of<br />

children. They also leverage resources to purchase<br />

food in the least expensive manner, however, their<br />

annual costs for food alone have increased by over<br />

$100,000. This year, people are now taking home an<br />

average of $200 worth of groceries per week from the<br />

food market. That savings can then be applied to rent<br />

or other critical expenses.<br />

The <strong>Summit</strong> <strong>Foundation</strong> supports the FIRC and many<br />

other organizations helping with food insecurity such<br />

as Smart Bellies and the Rotary’s weekly Community<br />

Dinner. Organizations like Café Food Rescue help<br />

local businesses donate extra food by providing<br />

volunteers to pick it up and make sure it gets to the<br />



people that need it so that we have minimal waste in<br />

our community.<br />

The <strong>Summit</strong> <strong>Foundation</strong> continues to work with<br />

and support our local community partners doing<br />

this critical work. We also make sure there is no<br />

duplication of efforts from the nonprofits and that<br />

everyone is working together for the good of the<br />

community. Our community works together in support<br />

of the people who love living here and are such an<br />

important piece of the fabric of our community.<br />

Thanks to each and every one of our donors and the<br />

many volunteers who are doing their part to make an<br />

impact and address this critical national issue that has<br />

hit our local community as well.<br />

LOCAL<br />





Breckenridge Ski Resort<br />

Colorado Mountain College<br />

Family Intercultural<br />

Resource Center<br />

Keystone Science School<br />

Keystone Resort<br />

Lake Dillon Theatre/SilCo<br />

<strong>Summit</strong> County<br />

<strong>Summit</strong> <strong>Foundation</strong><br />

<strong>Summit</strong> School District<br />

Town of Breckenridge<br />

Town of Frisco<br />

Town of Silverthorne<br />


Altitude Performing Arts<br />

Breckenridge Outdoor<br />

Education Center<br />

Breckenridge<br />

Backstage Theatre<br />

Breckenridge Creative Arts<br />

Colorado Learning<br />

Connections<br />

Friends of the<br />

Dillon Ranger District<br />

Girls on the Run<br />

High Country Soccer<br />

Keystone Science School<br />

Lake Dillon Theatre/SilCo<br />

Mountain Top Explorium<br />

National Repertory<br />

Orchestra<br />

SOS Outreach<br />

Mountain Mentors<br />

<strong>Summit</strong> County Libraries<br />

Town of Breckenridge<br />

Town of Frisco<br />

Town of Silverthorne<br />


THRIVE<br />

A partnership poised to help kids prosper<br />

The <strong>Summit</strong> <strong>Foundation</strong>, in collaboration with local community partners,<br />

is thrilled to launch a new initiative that will bring long-term, county-wide<br />

afterschool programming to elementary-age children and their families.<br />

This initiative will help address <strong>Summit</strong> County’s afterschool and summer<br />

childcare crisis by providing consistent and affordable afterschool and<br />

summer care, as well as more accessible academic and enrichment<br />

opportunities for children of working families throughout the county.<br />

Project Thrive will begin as a pilot program on the north end of the County,<br />

with a long-term goal of having a coordinated effort to provide consistent,<br />

equitable and affordable opportunities for working families throughout the<br />

county that parents can easily and consistently utilize. The <strong>Summit</strong> School<br />

District is a key partner in these efforts and has long offered its facilities<br />

free of charge for afterschool and summer care. Project Thrive hopes to<br />

expand the offerings and make sure they are available to all children,<br />

especially for those parents who don’t have flexibility to drive their children<br />

to various programs after school.<br />

The new initiative will be housed at the <strong>Summit</strong> School District, and a<br />

Program Manager at the district will be responsible for identifying enriching<br />

programs, collaborating with local providers, and developing a long-term<br />

plan. The <strong>Summit</strong> <strong>Foundation</strong> will oversee the initiative in conjunction with<br />

a Community Task Force consisting of community leaders, nonprofit<br />

providers, and experts from the school district.<br />

COMMUNITY FEEDBACK To create an enriching after afterschool<br />

program. Email your input to Danielle@summitfoundation.org.<br />

Next steps include hiring the Program Manager, conducting focus groups of<br />

parents and program providers, and determining the design of the program.<br />

The initiative is made possible through a $750,000 directed grant to the<br />

<strong>Summit</strong> School District restricted to this project. Funds are from The <strong>Summit</strong><br />

<strong>Foundation</strong> and in conjunction with Breckenridge and Keystone Ski Resorts,<br />

as a portion of the <strong>Foundation</strong>’s revenue from the ski medallion program.<br />

SPRING <strong>2023</strong> NEWSLETTER

GIVING<br />


Paul Finkel<br />

You may have heard of the “Giving Pledge” started by Bill Gates and Warren Buffett<br />

to inspire billionaires to give to charity during their lifetime. However, the “Giving While<br />

Living” idea isn’t just for billionaires. In <strong>Summit</strong> County, we see a trend of people who<br />

want to see the impact of their donations while they are alive, perhaps in addition to<br />

leaving a legacy bequest after they are gone.<br />

A case in point is local philanthropist Paul Finkel. Paul makes it very clear that he<br />

prefers to donate to innovative projects now while he is alive, and he is willing to take<br />

risks as well. Recently Paul asked The <strong>Summit</strong> <strong>Foundation</strong> to lead a collaboration<br />

of trusted community partners to explore ideas to assist working families. It was<br />

determined that the service resources were available, families just needed to access<br />

the information more easily. The result was the One Degree <strong>Summit</strong> County program,<br />

a community resource platform that offers an innovative and dynamic directory of<br />

support services — from childcare to mental health support to housing assistance.<br />

One Degree can be accessed through the One Degree <strong>Summit</strong> app, online on the<br />

website, or through text message. FIRC has been managing One Degree, and plans<br />

are to expand visibility for the program and increase usage. Eventually, One Degree<br />

will make it easier for local nonprofits to connect with community members seeking<br />

their services and facilitate warm handoffs to local partners.<br />

We are grateful that we have donors who are willing to “Give While Living” and try<br />

new projects. We are also fortunate that our nonprofit partners, the backbone of our<br />

community, are willing to work together to put community needs above their own for<br />

the collective benefit of all.<br />





LED BY<br />



Paul Finkel<br />

Education<br />

<strong>Foundation</strong><br />

of the <strong>Summit</strong><br />

FIRC (Family<br />

Intercultural<br />

Resource Center)<br />

Keystone Science<br />

School<br />

St. Anthony<br />

<strong>Summit</strong> Medical<br />

Center<br />

<strong>Summit</strong> Community<br />

Care Clinic<br />

LEAVING A LEGACY If you would like to make an impact in the community now, or if you prefer to establish<br />

a legacy bequest to The <strong>Summit</strong> <strong>Foundation</strong> in your will, please contact Jeanne@summitfoundation.org.<br />


MEET<br />


The <strong>Summit</strong> <strong>Foundation</strong>’s<br />

new Director of Development<br />

Owen brings extensive fundraising and donor<br />

relations knowledge through his campaign<br />

experience working with Congressman John Larson<br />

of Connecticut. He worked in dual capacities as<br />

his campaign and legislative staff on Capitol Hill in<br />

Washington D.C. Owen also served in the Peace<br />

Corps as a Health Extension Agent in the countries<br />

Burkina Faso and Guyana, demonstrating his<br />

strong commitment to local community’s needs<br />

and public service.<br />

As Director of Development at the <strong>Summit</strong><br />

<strong>Foundation</strong>, Owen’s experience and skills will be<br />

invaluable in fundraising and connecting donors<br />

and new residents with the community. His broad<br />

range of knowledge and expertise will also bring<br />

new perspectives and ideas to our work.<br />

Owen and his wife, Molly, live in Silverthorne and<br />

enjoy hiking, biking, and skiing.<br />

Feel free to reach out to owen@summitfoundation.org<br />

and share your passion for our community so we can<br />

continue to enrich the lives of the people we serve.<br />

SPRING <strong>2023</strong> NEWSLETTER



The standardized deduction adjusts each year for<br />

inflation, so knowing your numbers is essential in<br />

deciding whether to itemize. For example, in 2022,<br />

the standard deduction is $12,950 for individual<br />

taxpayers or $25,900 for married couples filing jointly.<br />

In <strong>2023</strong> those deductions will be $13,850<br />

and $27,700, respectively.<br />

Suppose this year you add up the amount of your<br />

allowable itemized deductions, including your home<br />

mortgage interest, property/state/local income taxes,<br />

and other common deductions, and the number is<br />

just shy. One way to be able to itemize would be to<br />

make a charitable donation to bring you up to the<br />

itemization deduction amount.<br />


Donating stocks, bonds, or other appreciated<br />

securities directly to a charity is a win-win proposition.<br />

Though cash gifts are more straightforward, there are<br />

key benefits to donating appreciated assets instead.<br />





It’s tax season and chances are the review of your<br />

financial choices of 2022 has you contemplating your<br />

priorities. However, being fiscally responsible and<br />

supporting your community are not mutually exclusive,<br />

you can “Do Good and Do Well!” While every donation<br />

is significant, there are ways that you can make your<br />

money work harder to keep up with the economic<br />

changes and tax laws to benefit our community.<br />

Selling an appreciated asset may result in a capital<br />

gains tax. However, by gifting the appreciated asset<br />

to a charity, you avoid the capital gains tax. In<br />

addition, you may be eligible for a charitable income<br />

tax deduction equal to the fair market value of the<br />

security you donate, up to 30% of your Adjusted<br />

Gross Income (AGI).<br />


If you are 70 1/2 years old and taking a required<br />

minimum distribution (RMD), you can reduce your<br />

taxable income with a qualified charitable distribution<br />

(QCD). These are donations made directly from your<br />

IRA to your charity. While not a charitable deduction,<br />

the gift won’t be considered taxable income either<br />

and satisfies your RMD.<br />

Reducing your taxable income may have additional<br />

benefits, such as calculating your Medicare<br />

premiums. However, you must meet a few strict<br />

requirements to benefit from this strategy, so make<br />

sure you talk to your advisor.<br />



You may not receive the maximum tax benefit if<br />

charitable giving is a set amount of your yearly<br />

budget. Although giving is primarily based on<br />

the heart of philanthropy, it’s also fine to think<br />

about and maximize your donations for the<br />

maximum tax benefits as well. As the<br />

standardized deductions adjust for inflation<br />

each year, reaching the itemization threshold<br />

may require “bunching” or pre-funding your<br />

charitable gifts into one tax year. This strategy<br />

can be beneficial when donating appreciated<br />

securities.<br />


A donor-advised fund is another charitable<br />

vehicle that offers flexibility. The <strong>Summit</strong><br />

<strong>Foundation</strong> manages DAF’s which allows you to<br />

distribute funds to the local organizations that<br />

matter most to you, and we do not charge and<br />

administrative fee. Donations to establish a DAF<br />

are entirely tax deductible and may be beneficial<br />

if you are facing a major tax event. The funds in<br />

your DAF are invested in the market and have<br />

the potential to grow, providing sustainable<br />

support for the charities you care about most.<br />

The growth is tax-free, allowing you to give<br />

more. Funding a DAF allows you to claim an<br />

immediate charitable tax deduction. Then, you<br />

may distribute the money to your favorite charities<br />

on a schedule that fits into your giving plan.<br />

for investing in our community<br />

over<br />

3,500<br />

$4 Million<br />

Generous Donors Given Back in 2022<br />

Together, we make an impact!<br />

These tax strategies are just a few ways to<br />

support The <strong>Summit</strong> <strong>Foundation</strong> or other<br />

community partners.<br />

We would be happy to discuss potential ways<br />

you can support The <strong>Summit</strong> <strong>Foundation</strong>. As<br />

always choosing which methods align with your<br />

personal financial and philanthropic goals is<br />

best discussed with your tax accountant or<br />

financial advisor.<br />

SPRING <strong>2023</strong> NEWSLETTER

FIRST<br />

TRACKS<br />

A memorable morning<br />

for donors and friends.<br />

Keystone Resort hosted an exclusive<br />

first tracks morning as a special<br />

thank you to the families and<br />

businesses that purchase the<br />

medallion. These passes are<br />

generously provided to The <strong>Summit</strong><br />

<strong>Foundation</strong> by Arapahoe Basin,<br />

Copper Mountain and Vail Resorts.<br />

The blustery February morning<br />

provided a few inches of snow and<br />

fresh tracks on the Montezuma chair.<br />

Afterwards, guests warmed up with<br />

a private breakfast at the Mountain<br />

House hosted by the Keystone staff.<br />

The <strong>Summit</strong> <strong>Foundation</strong> recognized<br />

the importance and impact of the<br />

medallions. Each year the foundation<br />

invests over $1.5 million dollars directly<br />

in the community through grants,<br />

scholarships, and special initiatives.<br />

A big thank you to Keystone Resort’s<br />

Chris Sorensen and his entire team<br />

for going above and beyond in<br />

hosting the <strong>2023</strong> First Tracks event,<br />

and to our medallion holders for their<br />

continued support.<br />





Congratulations to our <strong>2023</strong> scholarship recipients!<br />

The <strong>Summit</strong> <strong>Foundation</strong> is the largest<br />

scholarship provider in the community, and<br />

this year a total of $300,000 was awarded<br />

to 125 local high school seniors, 30% of<br />

which are first-generation college students.<br />

“We are so impressed with the tenacity of<br />

our students to overcome the challenges<br />

of the last few years and set forth a plan<br />

for a positive future,” said Kelly Renoux,<br />

Scholarship Committee Chair. “We are<br />

proud to not only provide financial support,<br />

but also reminder to them of the community<br />

cheering them on.”<br />

Each year the <strong>Summit</strong> <strong>Foundation</strong> awards<br />

scholarships as part of its mission to<br />

support working families. Students are<br />

selected based on financial need, academic<br />

excellence, and community service. All<br />

recipients are also eligible to re-apply for<br />

a scholarship for their sophomore year.<br />

Thanks to our generous donors, the<br />

<strong>Summit</strong> <strong>Foundation</strong> can create bright<br />

futures for students from diverse<br />

backgrounds and career interests. In<br />

addition to our 28 named scholarships,<br />

the <strong>Summit</strong> <strong>Foundation</strong> funds programs<br />

that go beyond the traditional 4-year<br />

institutions, knowing that every path<br />

forward is a journey worth supporting.<br />

A full list of scholarship recipients will be<br />

available after April 3rd on our website.<br />

The brilliant minds of tomorrow are in need<br />

of your support today. Donate to the<br />

<strong>Summit</strong> <strong>Foundation</strong>.<br />


The brilliant minds of tomorrow are in need of your support today.<br />

SPRING <strong>2023</strong> NEWSLETTER



Closing out 2022 with a bang, the <strong>Foundation</strong> awarded<br />

$1,065,000 in grants to 57 local nonprofits through its<br />

end-of-year grants cycle. Grants are awarded to<br />

organizations making a difference in one of our four<br />

impact areas: Healthy & Safe Communities, Bright<br />

Futures, Arts & Culture, and Environmental Stewardship.<br />

Our Bright Futures area of interest focuses on improving<br />

the quality, diversity, and access to educational<br />

opportunities and sports for children of all ages. The<br />

fall cycle introduced two new programs, Careers in<br />

Construction and Ski and Snowboard Manufacturing,<br />

offered through <strong>Summit</strong> High School. These programs<br />

recognize not all pathways forward require a four-year<br />

degree and allow students to explore a future in the<br />

community where they grew up.<br />

The <strong>Foundation</strong> solidified its commitment to our<br />

youngest community members through sustained<br />

support of the Early Childhood education centers.<br />

We strengthened our new initiative to improve access<br />

and affordability of our afterschool and summer camp<br />

programs through grants for local nonprofits to expand<br />

their services. Finally, we support youth sports<br />

organizations so they can lower the barriers to entry<br />

so that everyone can play.<br />

From cradle to career, we invest in <strong>Summit</strong> County youth<br />

through sustainable funding for nonprofits, scholarships,<br />

and special initiatives. Thanks to the generous support<br />

of over 3,500 businesses and individuals that donated<br />

including our ski area partners: Arapahoe Basin,<br />

Breckenridge, Keystone, and Copper Mountain Resorts.<br />

In challenging times, the <strong>Summit</strong> <strong>Foundation</strong> and our<br />

donors recognize that the need is great and rise to the<br />

challenge to make a positive impact.<br />

YOU CAN MAKE A DIFFERENCE For a full list of grantees visit our website.<br />




The <strong>Summit</strong> <strong>Foundation</strong> Golf Tournament<br />

Presented by: Breckenridge Grand Vacations<br />

JUN 10–11, <strong>2023</strong><br />

36th Annual Rubber Duck Race<br />

SEP 2, <strong>2023</strong><br />

ALL NEW Wine in the Mine<br />

SEP 7, <strong>2023</strong><br />

Parade of Homes<br />

SEP 23–24, & SEP 30–OCT 1<br />

<strong>2023</strong> Philanthropy Award<br />

NOV 9, <strong>2023</strong><br />

Colorado Gives Day<br />

DEC 5, <strong>2023</strong><br />



STAFF<br />

Jeanne Bistranin<br />

Executive Director<br />

Sandy Nelson<br />

Director of Finance<br />

Owen Dodd<br />

Director of Development<br />

Kate Cowdery<br />

Development Specialist<br />

Danielle McQueen<br />

Community Programs Manager<br />

Suzanne Lifgren<br />

Marketing Manager<br />

Ashley Zimmerman<br />

Events Manager<br />

Fran Blumenfeld<br />

Operations Coordinator<br />

SPRING <strong>2023</strong> NEWSLETTER

The needs of the<br />

community are greater<br />

now than ever before.<br />

Together, we make<br />

a difference.

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