G1K

G1K stands for “Give $1,000.” The G1K program is an opportunity for donors to act as one body to make one large impact grant to a nonprofit organizations serving Jefferson County, Indiana. Donors, also known as “charter members,” are asked to give an annual $1,000 tax-deductible donation to a pass-through fund at the Community Foundation of Madison & Jefferson County, Inc. One hundred percent (100%) of each $1,000 donation to the pass-through fund goes directly to award grants through a competitive application process thanks to the administrative fees for this fund being covered by an anonymous donor.

Charter membership in the G1K program is open to individuals, couples, groups, and businesses. Donating $1,000 equals one vote in the competitive grant award process. Votes are limited to one (1) per individual, couple, group, or business. Here are the membership categories:

• Individual – $1,000 – 1 vote
• Couple – $1,000 – 1 vote; $2,000 – 2 votes
• Business/Organization – $1,000

Yes. Charter donors/members of the G1K program will be recognized for their support unless they wish to give anonymously.

The amount of dollars raised in the pass-through fund will be the total grant amount available. An independent committee of Community Foundation volunteers who are not G1K members will review submitted applications and recommend five (5) applications to be voted on by the membership. Ballots will be emailed (or sent by mail or completed in person, if preferred,) with voting completed using a ranking system. Applications will be ranked using a 1-5 scale, with 1 being the top vote of the ranking. The application receiving the lowest cumulative score will be determined as that year’s grant recipient. 

To become a charter G1K member, you can contribute your $1,000 donation in a variety of ways:

• By Mail – send a check to the Community Foundation of Madison & Jefferson County, Inc. (P.O. Box 306, Madison, IN 47250)
• In Person – stop by the Community Foundations office to donate by cash, check, or credit card at 416 West Street, Suite B, in downtown Madison, Indiana
• Online – give with a credit card or e-check online HERE. When adding your donation, select “G1K Annual Membership ($1,000)” from the Fund drop down menu. Please note which membership option you are  how you would like the membership to be recognized in the provided Comments box.
• Investment Accounts/Stock – G1K /Community Foundation also accepts gifts of appreciated stock, which is an attractive option for some donors to avoid capital gains taxes.
• IRA Distribution – For donors over 70 1/2 years of age who have an Individual Retirement Account (IRA), you can make a tax-free gift from your account to the G1K/Community Foundation. This qualified charitable distribution (QCD) counts toward your required minimum distribution (RMD) without increasing your taxable income. At age 73, your donation can be part of your RMD. Please consult your accountant, broker, or other advisor to see which giving option is best for you and your charitable goals.

For questions about G1K program, please contact Bill Barnes at 812-265-3327 or [email protected].