2023 Summit Foundation, Spring Newsletter

WHAT’S INSIDE
Food for Thought | Project Thrive
Giving While Living | Meet Owen Dodd
Doing Good Doing Well | First Tracks
Scholarships | Bright Future
Photo Credits: Joe Kusumoto Photography

FOOD
FOR THOUGHT
Do you worry about running out of food before your
next paycheck? Or make tough decisions like whether
to pay your rent or get groceries for your family?
A 2020 national study indicated that for one in ten
Summit County residents, hunger is a normal part of
life (Feeding America, 2020). With the impact of the
pandemic and recent inflation, that number is likely
even higher today.
Cost of living and rising inflation impacts not only our
workforce and their families, but also the non-profits
that help people make ends meet. The Family &
Intercultural Resource Center (FIRC), for example,
reports a 116% increase in the number of people
visiting the food market this year over last, and they
are typically serving almost 500 households per week.
FIRC has made an effort to provide more healthy and
fresh food, which is so critical for the health of
children. They also leverage resources to purchase
food in the least expensive manner, however, their
annual costs for food alone have increased by over
$100,000. This year, people are now taking home an
average of $200 worth of groceries per week from the
food market. That savings can then be applied to rent
or other critical expenses.
The Summit Foundation supports the FIRC and many
other organizations helping with food insecurity such
as Smart Bellies and the Rotary’s weekly Community
Dinner. Organizations like Café Food Rescue help
local businesses donate extra food by providing
volunteers to pick it up and make sure it gets to the
LAST YEAR, WE
SUPPORTED OVER
people that need it so that we have minimal waste in
our community.
The Summit Foundation continues to work with
and support our local community partners doing
this critical work. We also make sure there is no
duplication of efforts from the nonprofits and that
everyone is working together for the good of the
community. Our community works together in support
of the people who love living here and are such an
important piece of the fabric of our community.
Thanks to each and every one of our donors and the
many volunteers who are doing their part to make an
impact and address this critical national issue that has
hit our local community as well.
LOCAL
NONPROFITS
TOGETHER, WE MAKE AN IMPACT DONATE TODAY

COMMUNITY
TASK FORCE
Breckenridge Ski Resort
Colorado Mountain College
Family Intercultural
Resource Center
Keystone Science School
Keystone Resort
Lake Dillon Theatre/SilCo
Summit County
Summit Foundation
Summit School District
Town of Breckenridge
Town of Frisco
Town of Silverthorne
PROVIDERS
Altitude Performing Arts
Breckenridge Outdoor
Education Center
Breckenridge
Backstage Theatre
Breckenridge Creative Arts
Colorado Learning
Connections
Friends of the
Dillon Ranger District
Girls on the Run
High Country Soccer
Keystone Science School
Lake Dillon Theatre/SilCo
Mountain Top Explorium
National Repertory
Orchestra
SOS Outreach
Mountain Mentors
Summit County Libraries
Town of Breckenridge
Town of Frisco
Town of Silverthorne
PROJECT
THRIVE
A partnership poised to help kids prosper
The Summit Foundation, in collaboration with local community partners,
is thrilled to launch a new initiative that will bring long-term, county-wide
afterschool programming to elementary-age children and their families.
This initiative will help address Summit County’s afterschool and summer
childcare crisis by providing consistent and affordable afterschool and
summer care, as well as more accessible academic and enrichment
opportunities for children of working families throughout the county.
Project Thrive will begin as a pilot program on the north end of the County,
with a long-term goal of having a coordinated effort to provide consistent,
equitable and affordable opportunities for working families throughout the
county that parents can easily and consistently utilize. The Summit School
District is a key partner in these efforts and has long offered its facilities
free of charge for afterschool and summer care. Project Thrive hopes to
expand the offerings and make sure they are available to all children,
especially for those parents who don’t have flexibility to drive their children
to various programs after school.
The new initiative will be housed at the Summit School District, and a
Program Manager at the district will be responsible for identifying enriching
programs, collaborating with local providers, and developing a long-term
plan. The Summit Foundation will oversee the initiative in conjunction with
a Community Task Force consisting of community leaders, nonprofit
providers, and experts from the school district.
COMMUNITY FEEDBACK To create an enriching after afterschool
program. Email your input to Danielle@summitfoundation.org.
Next steps include hiring the Program Manager, conducting focus groups of
parents and program providers, and determining the design of the program.
The initiative is made possible through a $750,000 directed grant to the
Summit School District restricted to this project. Funds are from The Summit
Foundation and in conjunction with Breckenridge and Keystone Ski Resorts,
as a portion of the Foundation’s revenue from the ski medallion program.
SPRING 2023 NEWSLETTER

GIVING
WHILE LIVING
Paul Finkel
You may have heard of the “Giving Pledge” started by Bill Gates and Warren Buffett
to inspire billionaires to give to charity during their lifetime. However, the “Giving While
Living” idea isn’t just for billionaires. In Summit County, we see a trend of people who
want to see the impact of their donations while they are alive, perhaps in addition to
leaving a legacy bequest after they are gone.
A case in point is local philanthropist Paul Finkel. Paul makes it very clear that he
prefers to donate to innovative projects now while he is alive, and he is willing to take
risks as well. Recently Paul asked The Summit Foundation to lead a collaboration
of trusted community partners to explore ideas to assist working families. It was
determined that the service resources were available, families just needed to access
the information more easily. The result was the One Degree Summit County program,
a community resource platform that offers an innovative and dynamic directory of
support services — from childcare to mental health support to housing assistance.
One Degree can be accessed through the One Degree Summit app, online on the
website, or through text message. FIRC has been managing One Degree, and plans
are to expand visibility for the program and increase usage. Eventually, One Degree
will make it easier for local nonprofits to connect with community members seeking
their services and facilitate warm handoffs to local partners.
We are grateful that we have donors who are willing to “Give While Living” and try
new projects. We are also fortunate that our nonprofit partners, the backbone of our
community, are willing to work together to put community needs above their own for
the collective benefit of all.
COMMUNITY
PARTNERS IN
THE ONE DEGREE
PROJECT
LED BY
THE SUMMIT
FOUNDATION
Paul Finkel
Education
Foundation
of the Summit
FIRC (Family
Intercultural
Resource Center)
Keystone Science
School
St. Anthony
Summit Medical
Center
Summit Community
Care Clinic
LEAVING A LEGACY If you would like to make an impact in the community now, or if you prefer to establish
a legacy bequest to The Summit Foundation in your will, please contact Jeanne@summitfoundation.org.
TOGETHER, WE MAKE AN IMPACT DONATE TODAY

MEET
OWEN DODD
The Summit Foundation’s
new Director of Development
Owen brings extensive fundraising and donor
relations knowledge through his campaign
experience working with Congressman John Larson
of Connecticut. He worked in dual capacities as
his campaign and legislative staff on Capitol Hill in
Washington D.C. Owen also served in the Peace
Corps as a Health Extension Agent in the countries
Burkina Faso and Guyana, demonstrating his
strong commitment to local community’s needs
and public service.
As Director of Development at the Summit
Foundation, Owen’s experience and skills will be
invaluable in fundraising and connecting donors
and new residents with the community. His broad
range of knowledge and expertise will also bring
new perspectives and ideas to our work.
Owen and his wife, Molly, live in Silverthorne and
enjoy hiking, biking, and skiing.
Feel free to reach out to owen@summitfoundation.org
and share your passion for our community so we can
continue to enrich the lives of the people we serve.
SPRING 2023 NEWSLETTER

1. ITEMIZE OR NOT TO ITEMIZE. THAT IS THE
QUESTION?
The standardized deduction adjusts each year for
inflation, so knowing your numbers is essential in
deciding whether to itemize. For example, in 2022,
the standard deduction is $12,950 for individual
taxpayers or $25,900 for married couples filing jointly.
In 2023 those deductions will be $13,850
and $27,700, respectively.
Suppose this year you add up the amount of your
allowable itemized deductions, including your home
mortgage interest, property/state/local income taxes,
and other common deductions, and the number is
just shy. One way to be able to itemize would be to
make a charitable donation to bring you up to the
itemization deduction amount.
2. DONATING STOCKS
Donating stocks, bonds, or other appreciated
securities directly to a charity is a win-win proposition.
Though cash gifts are more straightforward, there are
key benefits to donating appreciated assets instead.
DOING GOOD
DOING WELL
FIVE CHARITABLE GIVING STRATEGIES
TO MAXIMIZE YOUR INCOME TAX BENEFITS
It’s tax season and chances are the review of your
financial choices of 2022 has you contemplating your
priorities. However, being fiscally responsible and
supporting your community are not mutually exclusive,
you can “Do Good and Do Well!” While every donation
is significant, there are ways that you can make your
money work harder to keep up with the economic
changes and tax laws to benefit our community.
Selling an appreciated asset may result in a capital
gains tax. However, by gifting the appreciated asset
to a charity, you avoid the capital gains tax. In
addition, you may be eligible for a charitable income
tax deduction equal to the fair market value of the
security you donate, up to 30% of your Adjusted
Gross Income (AGI).
3. QUALIFIED CHARITABLE DISTRIBUTION (QCD)
If you are 70 1/2 years old and taking a required
minimum distribution (RMD), you can reduce your
taxable income with a qualified charitable distribution
(QCD). These are donations made directly from your
IRA to your charity. While not a charitable deduction,
the gift won’t be considered taxable income either
and satisfies your RMD.
Reducing your taxable income may have additional
benefits, such as calculating your Medicare
premiums. However, you must meet a few strict
requirements to benefit from this strategy, so make
sure you talk to your advisor.
TOGETHER, WE MAKE AN IMPACT DONATE TODAY

4. TIMING IS EVERYTHING!
You may not receive the maximum tax benefit if
charitable giving is a set amount of your yearly
budget. Although giving is primarily based on
the heart of philanthropy, it’s also fine to think
about and maximize your donations for the
maximum tax benefits as well. As the
standardized deductions adjust for inflation
each year, reaching the itemization threshold
may require “bunching” or pre-funding your
charitable gifts into one tax year. This strategy
can be beneficial when donating appreciated
securities.
5. DONOR-ADVISED FUND (DAF)
A donor-advised fund is another charitable
vehicle that offers flexibility. The Summit
Foundation manages DAF’s which allows you to
distribute funds to the local organizations that
matter most to you, and we do not charge and
administrative fee. Donations to establish a DAF
are entirely tax deductible and may be beneficial
if you are facing a major tax event. The funds in
your DAF are invested in the market and have
the potential to grow, providing sustainable
support for the charities you care about most.
The growth is tax-free, allowing you to give
more. Funding a DAF allows you to claim an
immediate charitable tax deduction. Then, you
may distribute the money to your favorite charities
on a schedule that fits into your giving plan.
for investing in our community
over
3,500
$4 Million
Generous Donors Given Back in 2022
Together, we make an impact!
These tax strategies are just a few ways to
support The Summit Foundation or other
community partners.
We would be happy to discuss potential ways
you can support The Summit Foundation. As
always choosing which methods align with your
personal financial and philanthropic goals is
best discussed with your tax accountant or
financial advisor.
SPRING 2023 NEWSLETTER

FIRST
TRACKS
A memorable morning
for donors and friends.
Keystone Resort hosted an exclusive
first tracks morning as a special
thank you to the families and
businesses that purchase the
medallion. These passes are
generously provided to The Summit
Foundation by Arapahoe Basin,
Copper Mountain and Vail Resorts.
The blustery February morning
provided a few inches of snow and
fresh tracks on the Montezuma chair.
Afterwards, guests warmed up with
a private breakfast at the Mountain
House hosted by the Keystone staff.
The Summit Foundation recognized
the importance and impact of the
medallions. Each year the foundation
invests over $1.5 million dollars directly
in the community through grants,
scholarships, and special initiatives.
A big thank you to Keystone Resort’s
Chris Sorensen and his entire team
for going above and beyond in
hosting the 2023 First Tracks event,
and to our medallion holders for their
continued support.
MADE POSSIBLE THANKS TO OUR
GENEROUS SKI AREA PARTNERS
TOGETHER, WE MAKE AN IMPACT DONATE TODAY

MAKING DREAMS COME TRUE
Congratulations to our 2023 scholarship recipients!
The Summit Foundation is the largest
scholarship provider in the community, and
this year a total of $300,000 was awarded
to 125 local high school seniors, 30% of
which are first-generation college students.
“We are so impressed with the tenacity of
our students to overcome the challenges
of the last few years and set forth a plan
for a positive future,” said Kelly Renoux,
Scholarship Committee Chair. “We are
proud to not only provide financial support,
but also reminder to them of the community
cheering them on.”
Each year the Summit Foundation awards
scholarships as part of its mission to
support working families. Students are
selected based on financial need, academic
excellence, and community service. All
recipients are also eligible to re-apply for
a scholarship for their sophomore year.
Thanks to our generous donors, the
Summit Foundation can create bright
futures for students from diverse
backgrounds and career interests. In
addition to our 28 named scholarships,
the Summit Foundation funds programs
that go beyond the traditional 4-year
institutions, knowing that every path
forward is a journey worth supporting.
A full list of scholarship recipients will be
available after April 3rd on our website.
The brilliant minds of tomorrow are in need
of your support today. Donate to the
Summit Foundation.
DONATE TO THE SUMMIT FOUNDATION SCHOLARSHIP FUND
The brilliant minds of tomorrow are in need of your support today.
SPRING 2023 NEWSLETTER

A MILLION-DOLLAR IMPACT TO SECURE A
BRIGHT FUTURE!
Closing out 2022 with a bang, the Foundation awarded
$1,065,000 in grants to 57 local nonprofits through its
end-of-year grants cycle. Grants are awarded to
organizations making a difference in one of our four
impact areas: Healthy & Safe Communities, Bright
Futures, Arts & Culture, and Environmental Stewardship.
Our Bright Futures area of interest focuses on improving
the quality, diversity, and access to educational
opportunities and sports for children of all ages. The
fall cycle introduced two new programs, Careers in
Construction and Ski and Snowboard Manufacturing,
offered through Summit High School. These programs
recognize not all pathways forward require a four-year
degree and allow students to explore a future in the
community where they grew up.
The Foundation solidified its commitment to our
youngest community members through sustained
support of the Early Childhood education centers.
We strengthened our new initiative to improve access
and affordability of our afterschool and summer camp
programs through grants for local nonprofits to expand
their services. Finally, we support youth sports
organizations so they can lower the barriers to entry
so that everyone can play.
From cradle to career, we invest in Summit County youth
through sustainable funding for nonprofits, scholarships,
and special initiatives. Thanks to the generous support
of over 3,500 businesses and individuals that donated
including our ski area partners: Arapahoe Basin,
Breckenridge, Keystone, and Copper Mountain Resorts.
In challenging times, the Summit Foundation and our
donors recognize that the need is great and rise to the
challenge to make a positive impact.
YOU CAN MAKE A DIFFERENCE For a full list of grantees visit our website.
TOGETHER, WE MAKE AN IMPACT DONATE TODAY

CALENDAR
OF EVENTS
The Summit Foundation Golf Tournament
Presented by: Breckenridge Grand Vacations
JUN 10–11, 2023
36th Annual Rubber Duck Race
SEP 2, 2023
ALL NEW Wine in the Mine
SEP 7, 2023
Parade of Homes
SEP 23–24, & SEP 30–OCT 1
2023 Philanthropy Award
NOV 9, 2023
Colorado Gives Day
DEC 5, 2023
THE SUMMIT
FOUNDATION
STAFF
Jeanne Bistranin
Executive Director
Sandy Nelson
Director of Finance
Owen Dodd
Director of Development
Kate Cowdery
Development Specialist
Danielle McQueen
Community Programs Manager
Suzanne Lifgren
Marketing Manager
Ashley Zimmerman
Events Manager
Fran Blumenfeld
Operations Coordinator
SPRING 2023 NEWSLETTER

The needs of the
community are greater
now than ever before.
Together, we make
a difference.