For years, the Anderson family’s farm in rural DeWitt helped feed the community. Today, the farm and the family are making an impact in a different way, through charitable gifts to local organizations building strong communities in rural Clinton County.
Siblings Barbara and John Anderson, along with John’s wife, Wilma, created the Anderson Family Trust to minimize the tax burden on their family farm and generate charitable dollars for area students and nonprofits.
Local financial advisor Roger Hill helped establish the trust with the LincolnWay Community Foundation, an affiliate of the Community Foundation of Greater Dubuque. Since 2001, the trust has grown by $1.8 million as the value of their land increased. To date, the trust has provided about $700,000 in scholarships to approximately 400 Central DeWitt seniors.
The Anderson family farm was sold this year, and $2.7 million was distributed to local nonprofits named as beneficiaries by Barbara, John and Wilma before their deaths. Churches in Calamus, Ground Mound and DeWitt, the DeWitt Community Hospital, the City of DeWitt, the DeWitt Volunteer Fire Department, the DeWitt Referral Center, the Central Community Historical Society, and others received meaningful gifts as part of the lasting legacy of the Anderson family.
“The members of the First Congregational United Church of Christ are extremely grateful for the generous donations we received from the Anderson family,” says Steve Thayer, Vice Chair of the UCC Stewardship Committee. “We thank the LincolnWay Foundation and the Community Foundation of Greater Dubuque for their wise management of the funds while entrusted to them.”
Through 2029, $1.7 billion is expected to transfer from one generation to the next through Clinton County probate estates. That number rises to $9.3 billion by 2050.
“The Foundation offers a unique way to give back to the community you love,” says Pat Henricksen, executive director of the foundation. “This is a great example of how together, we can support many aspects of the communities we all love. This gift is such a blessing.”
An affiliate of the Community Foundation of Greater Dubuque, LincolnWay Community Foundation assists in charitable projects and programs that contribute to the quality of life in rural Clinton County, Iowa. The foundation provides grants, scholarships, tax benefits and administration services to organizations, churches, schools and individuals with charitable intent in Calamus, Charlotte, Delmar, DeWitt, Goose Lake, Grand Mound, Lost Nation, Low Moor, Welton and Wheatland. To learn more, visit dbqfoundation.org/lincolnway.