children who have become doctors and lawyers,” Somers said. “Each and every one of them made a difference in my life.” Making Room for the Disenfranchised in Her Will When Somers began drafting her will, she made a deliberate choice to allocate a portion of her estate to the Omaha Community Foundation, so she can continue contributing to the community and its children long after she’s gone. She collaborated with the foundation team to establish a Field of Interest Fund geared towards providing grants to nonprofit organizations that offer experiential learning opportunities. This will enable children, particularly those with disadvantages or special needs, to engage in programs that encompass art, nature, and animals. “The goal is to empower children to become extraordinary people,” Somers said. A Field of Interest Fund empowers donors like Somers to direct their gifts toward specific needs within the community. Donors identify their areas of interest. Then, the fund sponsor (in this case, the Omaha Community Foundation) identifies nonprofit organizations making an impact in that chosen area and issues grants from the fund accordingly. Establishing a Field of Interest Fund When your client opens a Field of Interest Fund within a community foundation, the foundation’s team will collaborate with you and your client to create a fund agreement that reflects the client’s personal values and long-term goals. Your client can name the fund and define the target cause, geographical scope, and timeline. Field of Interest Funds may be used to support causes during a person’s lifetime and in perpetuity. Moreover, they offer the opportunity for individuals to participate in the decision-making process by becoming part of the committee that selects which nonprofits receive support. Over time, these funds may evolve to serve the community as nonprofits grow and change to respond to future needs. To learn more about Field of Interest Funds, contact the Donor Services team at the Omaha Community Foundation at (402) 342-3458 or giving@omahafoundation.org. CLASSIFIED AD Nebraska Practices for Sale: Gross Shown • Lincoln, NE CPA $500K • Columbus, NE CPA $525K • Central Nebraska Tax and Accounting $1.05M New listings coming soon! For more information, call (800) 397-0249 or visit www.APS.net. THINKING OF SELLING? Accounting Practice Sales is the leading marketer of accounting and tax practices in North America. To learn more about our risk-free & confidential services, call Trent Holmes at (800) 397-0249 or email trent@apsholmesgroup.com. IPE 1031 | 888.226.0400 | WWW.IPE1031.COM | INFO@IPE1031.COM EXPERTISE From a Respected Industry Leader THE PREMIER SPECIALIST FOR SECTION 1031 EXCHANGES SECTION 1031 EXCHANGE 29 www.nescpa.org
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