The Greater Round Rock Community Foundation

The Greater Round Rock Community Foundation

Written by Eric Pulsifer Friday, 06 June 2008

With 13 funds, the Greater Round Rock Community Foundation has $1.25 million in assets and has given more than $165,000 in grants. For more information on these and other funds, visit www.rrcommunityfoundation.org.

When Nyle Maxwell stepped down from his position as mayor of Round Rock last month, he stepped up to a new role in the community. On May 22, he was named the Chair of the Greater Round Rock Community Foundation, a nonprofit organization that works by helping donors establish professionally managed charitable funds.

While heading a nonprofit might seem less significant than running a city, the Community Foundation is attempting to make a huge difference around Round Rock by pooling resources from multiple donors and supporting various causes across the city. Maxwell has worked with the group since its inception – he was a founding board member in March 2004.

“There are a lot of different areas in which we can make a major impact in the lives of folks who want to leave a legacy for a community that has given them so much,” he said.

Maxwell replaces chair Nancy Rabb, a longtime Round Rock resident and Wag-A-Bag co-founder. Rabb will remain involved with the organization and said she looks forward to seeing where Maxwell takes the foundation in the future.

“He was one of the most instrumental in getting this going. He believes so strongly in the Community Foundation,” she said. “This is going to be exciting for us to have him take over the helm of the ship.”

Whatever course the foundation heads down, local projects of different shapes and sizes will be supported through the many different philanthropic funds they offer.

Some funds are endowed – these funds’ original investments remain with the Community Foundation and only money generated from the original capital is spent. Endowments stay with the Community Foundation indefinitely, helping the fledgling group build its assets and generating a steady stream of income to support the donor’s charity of choice.

Funds generated through or donated to the foundation are typically spent as the fund establisher sees fit. These funds are called donor-advised funds and are the most popular at the Community Foundation.

Executive director Kami Barron said the foundation is perfect for people who want to give back, but are not sure where to begin.

“We have expertise to offer. We work with the donor to determine what they want to accomplish through their charitable giving and we help them to do that,” Barron said. “We make it very easy, very simple.”

It’s that simplicity that Rabb cites as the reason to go with a community foundation.

“Whether you’re starting out in life, getting toward the end or in the middle, there is a vehicle somewhere that’s just right for you to give and make a big impact,” she said.” Through a community foundation, people can very easily and very effectively give to whatever their interest is. I think it’s the way for all of us to give back but know where the dollars are going and that they’ll be effectively managed.”

Maxwell Family Fund

“We’re already teaching the joy of the gift of philanthropy to our children.” — Nyle Maxwell

The Maxwell Family Fund is a donor-advised fund established in December 2007 by Nyle and Nancy Maxwell. At the time, the undisclosed amount was the largest donated to a foundation in Round Rock’s history.

Maxwell said starting a family fund is a great way to show children the importance of giving back.

What the fund supports — The fund offers broad support of various community issues: social services, arts, the environment and more.

How the fund is unique — Community Foundation Executive Director Kami Barron said expansive funds like the Maxwell family’s highlight the unique opportunities available through a community foundation.

“That’s one difference between us [and other nonprofit organizations]. They fund social services exclusively, and we fund any cause that betters our community,” Barron said.

Arts Development Fund

“Appreciation of the arts and celebration of cultures with historic ties to the heritage of our community promotes civility to our children and ourselves.” — Rufus Honeycutt

What the fund supports — A donor-advised endowment started by City Councilman Rufus Honeycutt, the Arts Development Fund was established in April to assist nonprofits in promoting the development of arts and culture in Round Rock.

“My wife Margaret and I are excited to be able to provide a seed that hopefully will flourish into arts and cultural event offerings being more available within the Round Rock community,” Honeycutt said.

People and Parks Fund

“Since the parks belong to the community, what better way to do it than to get everybody involved and to have ownership in our parks system?” — Sharon Prete

What the fund supports — An endowed fund created with an initial donation of $25,000 in January, the People and Parks Fund was created by former Parks and Recreation Director Sharon Prete to improve the quality of life for citizens in Round Rock.

“This isn’t about me. It’s about everyone getting involved and contributing that small amount of money so that we can go forward with various projects that would support the parks system,” she said.

The fund will have a minimal formal structure with no officers or boards. Contributors to the fund will vote once a year to determine which project the foundation will support. Parks and Recreation will submit several potential projects in October and in November, and an online ballot will be sent out to members.

Gaining support — Prete is currently working to spread the word to neighborhood associations and community groups to gain support.

“The ultimate goal is to support the parks system, to make sure that we are able to sustain a great quality of life here in Round Rock,” Prete said.