Mark and Mary Waldman, Summit Mountain Rentals
When Mark and Mary Waldman came to Summit County in early 2002, they sought a new direction in life. In establishing their business, Summit Mountain Rentals (SMR) — a full-service property management company with vacation rentals in Breckenridge and Frisco — they followed two underlying tenants: work hard and be the best.
“After 14 years, I am proud to say we have and continue to adhere to this basic philosophy,” Mark noted. “It seems to work for us.”
In their mission to be the best, charitable contributions and community involvement became a significant component of their business philosophy.
“We are the primary lodging sponsor for the Breckenridge Music Festival, a driving force in the fantastic growth of the arts in Breckenridge and Summit County,” Mark shared. “We are an ongoing sponsor of the National Repertory Orchestra, offering lodging to help young musicians learn and grow. We recently became sponsors to the Backstage Theatre, helping to bring world-class theatre to our mountain town. We are regular contributors to the Family and Intercultural Resource Center and Habitat for Humanity, helping families face the economic challenges of living in Summit County. We have also continuously sponsored the World Snow Sculpture competition, bringing the most amazing winter art show to Breckenridge.”
Mary and Mark Waldman with their office managers Buddha and Bella.
This past year, as Mark and Mary reflected on their success, they endeavored to give back even more to the community. In doing so, the Waldmans sought a partnership with The Summit Foundation to launch a charitable “donor-advised fund” — named the SMR Foundation — through which they could support four areas that they feel strong about supporting in Summit County:
· Outdoor maintenance
· Adult education
· Affordable housing
· Animal well-being
In establishing the donor advised fund with The Summit Foundation, Mark and Mary took a unique approach in engaging their vacation property owners in the program. Each of their owners has been encouraged to donate a percentage of their rental income towards the fund. In turn, the company is matching the amount each owner decides to contribute, up to 3 percent. Thus far, 12 owners have signed on to support the program.
“The Summit Foundation is an incredible asset to the community, and we’re excited that our property owners are joining us in this effort,” Mark noted. “We’re also proud that our first year of donations will create an adult education scholarship at Colorado Mountain College.”
A million dollar gift established the first donor advised fund with The Summit Foundation in 1999. Since that year, more than 50 donor advised, scholarship, designated, field of interest, memorial, and agency endowment funds have been established with The Summit Foundation.
A collective group of donors, a business, an individual or a couple may establish a donor advised fund with The Summit Foundation. Established with a minimum contribution of $25,000, donor advised funds are invested with The Foundation’s endowment assets (currently totaling nearly $10 million), and the donor(s) may designate contributions from the fund to nonprofit organizations in our community. By creating a donor advised fund, a donor receives many benefits similar to those of a private charitable foundation, but without the costs, administrative responsibilities and government reporting requirements.
To learn more about establishing a fund with The Summit Foundation, contact Kasey Provorse or Jeanne Bistranin at The Summit Foundation.