In addition to benefiting the community in general, there are advantages to those who choose to donate to the Foundation. They are:
Tax Benefits
The Foundation qualifies as a 501(c)(3) public charity under federal law. That means that contributions are eligible for favorable income and estate tax treatment and are eligible for income tax benefits. Additionally, state law allows a tax credit to individuals and qualified businesses who pay the single business tax whose donations are placed into permanent endowment at the Community Foundation.
Flexibility & Simplicity
Donors may determine the purpose for which gifts are to be used, or leave all or part of the decision to the Board of Trustees. Donors may establish a named fund or may give anonymously. Furthermore, one contribution to the Foundation may address a number of needs and can benefit a number of charitable organizations in the community.
Perpetuity
Contributions to the Foundation are placed in a pooled endowment, generating income forever. Only the earnings from endowed funds are used for grants, allowing the fund to grow over time. Additional gifts may be made at any time, by any donor, in any amount, thereby increasing the fund and enabling the donor to maximize their tax benefit.
Variance Power
Should restrictions placed on a gift become unnecessary, or incapable of fulfillment after the donor's death, the Board of Trustees will protect the spirit of the gift by funding those charitable endeavors that most nearly meet the donor's original intent.
