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![](3D"slide0001_background.gif")
The
need for a new
Tierrasanta
Foundation=
Tierrasanta
Foundation=
25 May 2008
![](3D"master03_image001.gif")
2
Why a
Foundation?
•Foundations are tax-fr=
ee
entities that raise money as charities for public uses&#=
13;
–Foundations are 501(c)=
(3)
corporations
•The TCC is a 501(c)(4)
corporation
–Contributions are not =
tax
deductible
•Foundations benefits in
fundraising because donations are tax free to the
donors
–More likely for corpor=
ate
donations
–More likely for
high-dollar donations
–More likely for
name-sponsor donations
3
Tierrasanta Fundraising Summary
•<=
/span>The Kiwanis Foundation:
–<=
/span>Active; rai=
ses
funds to benefit children
•<=
/span>The Serra Foundation:
–<=
/span>Active; raises
funds to benefit Serra High
•<=
/span>The Recreation Council:
–<=
/span>Brand new; raises
funds to benefit the R=
ec
Center
4
Tierrasanta Fundraising Summary
•<=
/span>The TCC as a Corporation:
–<=
/span>Active but not a charity, not tax deductible, fundraising ability is limited
=
•<=
/span>The TJWC:
–<=
/span>Active but not incorporated, fundraising <=
/span>ability is limited
•<=
/span>The Missing Foundation:
–<=
/span>Who raises funds for the library and the
fire station<= /u>, for ad= ults and sen= iors, for skateboarders and dog= lovers?
fire station<= /u>, for ad= ults and sen= iors, for skateboarders and dog= lovers?
5
Who Needs a New Foundation?
•<=
/span>The Taste of Tierrasanta
=
–Largest and most successful single-day fundraiser =
in recent Tierrasanta history
–<=
/span>But the first Taste’s effort was limited: it
failed to attract the l=
arge
corporate donor because donations were not tax-deductible
–
•<=
/span>Tierrasanta Village of S.D. (Beacon Hill Project)
–<=
/span>Needs a 501(c)(3) financial agent to permit signif=
icant fundraising for the TVSD project
–
•<=
/span>Friends of Tierrasanta Canyons
<=
/span>
–<=
/span>Probably could use a 501(c)(3) financial agent
–
•<=
/span>Tierrasanta FireSafe Council
–<=
/span>Probably could use a 501(c)(3) financial agent
6
OK, so=
what
do we need all this money =
for
anyway?
=
•=
The
community has many sign=
ificant
infrastructure needs:
–A new fire station
–A new library
–A community center
–A seniors center
–A skate board park
–A dog park
7
Approved
Projects in the Tierrasanta Public
Facilities Finance Plan (PFFP)
•Priority 1:
Community Center and/or Senior Center, Skate Board Park,=
De
Portola joint use improvements, Road Runner picnic shelter,
a new Fire Station
•Priority 2:
Tierrasanta Library Expansion
•Priority 3:
Community Park and Neighbor-hood park upgrades: ADA, lighting,
shelters
•Priority Last: boulevard extensions
•Tierrasanta’s
PFFP
–Updated last year with
considerable community input
–Lists $ millions of projects
for which there is no funding
•Most projects we want,
some we don’t
–The PFFP will be updated
as the community plan is updated (should happen
fairly soon)
![](3D"slide0013_image003.jpg")
•=
F1:
fire station
•=
L1:
library
•=
Diamonds
(parks):
<=
span
style=3D'font-size:71%'>–4: Camp E=
lliott
park
<=
span
style=3D'font-size:71%'>–6: Skate =
board
park
<=
span
style=3D'font-size:71%'>–12: Commu=
nity
Ctr
<=
span
style=3D'font-size:71%'>–13: DeP J=
oint
Use
<=
span
style=3D'font-size:71%'>–17: Picnic
shelter
<=
span
style=3D'font-size:71%'>–ADA
improvements
<=
span
style=3D'font-size:75%'>•15: Villa
Monserate
•=
Circles
(roads):
=
–These are=
the
blvd extensions that we=
don’t want
![](3D"slide0014_image005.jpg")
![](3D"slide0014_image006.gif")
•Many of th=
ese
projects are already comple=
ted
10
Approved Projects in the PFFP
•Many of these projects are already completed
![](3D"slide0015_image008.jpg")