WBA Foundation
A Foundation of Giving
By: Christine Shaefer, Executive Vice President, Valley Home Builders Association, and Trustee, Wisconsin Builders Foundation
Building industry professionals have a long tradition of providing community support – whether through their companies, their associations or their families. Wisconsin Builders Association® (WBA) members regularly contribute to churches, schools, the United Way, the American Red Cross, the arts, animal and housing organizations, and countless other charities. From disaster relief efforts to student scholarships, the generosity of those in the building industry is something we should all be proud of.
Nearly a decade ago, the Wisconsin Builders Foundation was formed, guided by the steady and strong vision of its first benefactor, Bryce Styza, owner of Harmony Homes in Waukesha, WI. Created as a 501(c)(3) not-for-profit charitable organization, the WBA Foundation compliments the 501(c)(6) trade organization roots utilized by WBA and local home builders associations across Wisconsin. The WBA Foundation focuses the efforts of member companies, individual members and local associations to maximize financial aid to fund education, research and charitable aid efforts.
Why a Foundation?
WBA and its affiliated local associations are not charitable organizations. Yes, they are not-for-profit companies, but they are not charities as defined by the Internal Revenue Service. As a result, contributions to a local’s scholarship program, or material donations to a local’s community service project cannot be claimed as a charitable tax deduction. While most members contribute for the good of the cause, receiving tax deductions is an added benefit that shouldn’t be ignored.
By creating the WBA Foundation, Bryce hoped that members would be even more generous with their contributions, as those gifts would go to a recognized charitable group. He understood that the cost to set up a Foundation, and the resources to successfully manage one, would not be easily borne by a local association, so it made sense to create a statewide Foundation. Through Bryce’s generous initial gift, all expenses associated with the formation of the Foundation were covered.
Through the WBA Foundation, individual members, their families, and their companies can make tax-deductible donations. Significant gifts can be used to created specific funds, and local associations have been encouraged to open Donor Advised Funds which have the positive aspects of a private foundation without the annual administrative concerns or expense.
Who Benefits from the Foundation?
At the primary level, donors to the Foundation benefit not only from a tax deduction but also by adding their contributions to others, which when combined make can make a significant and lasting impact. However, the true beneficiaries of the WBA Foundation are those who receive assistance from it.
To date, the WBA Foundation has provided scholarships, tool grants, charitable grants, funded service projects, assisted military troops with housing needs, sent relief to disaster victims and more. The WBA Foundation Education Fund targets its giving to assist members and local associations for professional education endeavors. In addition, the Foundation’s many Donor Funds focus their contributions to benefit specific local needs.
Where does the Foundation get its Money?
From you! By making memorial or holiday gifts in honor of friends and family, by donating unrestricted funds and by giving through local association funds of the Foundation. In addition, all proceeds from the American TV/Kennedy-Hahn raffle tickets go to the WBA Education Fund. Members can also include the WBA Foundation in their personal estate planning, and members’ families and companies can create their own funds within the Foundation.
For example, WBA’s Past Presidents have created a Foundation Fund, and memorial funds have been formed within the Foundation. Outright gifts (cash, stocks, bonds, real estate, personal property) are the most common, and help the Foundation carry out its mission. Deferred gifts (bequests, life insurance, charitable remainder trusts) will help the Foundation continue its mission well into the future.
Giving Back
The Wisconsin Builders Foundation Trustees salute Bryce Styza for his 50 years of WBA membership, and we thank him for giving back to the industry through his tireless efforts to promote the Foundation. We invite you to give back some of the good fortune the homebuilding industry has given to you, by contributing to the Foundation. Your generosity will help the Foundation continue to flourish, and support its education, research and charitable aid efforts.
To learn more about the WBA Foundation, and how you can contribute, visit www.wisbuild.org or contact Foundation Manager Megan Taylor at (608) 242-5155 ext. 24.
