CLINTON COUNTY COMMUNITY FOUNDATION OFFERS NONPROFITS SUSTAINABILITY THROUGH LEGACY SOCIETY AND MATCHING GIFT PROGRAM
United Way for Clinton County, On-Stage Foundation and Clinton County YMCA receive monetary awards
December 3, 2012 — Clinton County nonprofit organizations, board members and supporters attended a Clinton County Community Foundation 'Legacy Society' lunch on Nov. 29 at Arborwood by Shoup's in Frankfort, Ind., to learn how donors can consider their favorite charity in their estate planning and provide permanent financial stability for charitable programs that benefit the community.
Currently, 28 Clinton County nonprofit organizations are supported by endowed funds through the Foundation's Legacy Society.
The event also included a special monetary drawing for organizations that had five or more board members or supporters in attendance. Through the drawing, United Way for Clinton County received $5,000, On-Stage Foundation received $3,000 and the Clinton County YMCA received $2,000 to be placed in each organization’s endowed fund at the Foundation.
Hilda Burns, president of the Community Foundation, updated participants about the advantages of the Legacy Society and how charitable gift planning through the Foundation could benefit their organizations.
"We can help donors set up a charitable gift annuity that will provide income payments during his or her lifetime, create favorable tax savings and provide a gift to a favorite charity," said Burns. "Most nonprofits do not have a way to offer this giving option. We are able to provide this service to your donors and your organization to help ensure sustainability."
Burns also highlighted the Foundation's recently established 'Legacy Fund' program as a new way to grow an endowment fund to provide a permanent income stream to the charitable organization and/or program of a donor's choice. Funds established under the Legacy Fund program are intended to grow to the $12,500 minimum over a period of six years. A fund may be started with as little as $1,000 and additional payments can be made for any amount at any time by anyone. As the donor builds the fund, the Foundation will reinvest and credit all interest, dividends and market returns to the fund. Once the fund reaches the $12,500 minimum, the income will be used to award grants from the fund.
"We also have another great opportunity to increase fund amounts," said Burns. "To help build the capacity of any new or existing fund, the Community Foundation will match 25 percent of any endowed gift until all matching funds have been used."
The Foundation also offers a free will planning guide that is designed to help individuals as they prepare to work with their estate planning advisors. Contact the Foundation at 800-964-0508 or visit the Web site at www.cfclinton.org for a free copy of the will planning guide.
The Clinton County Community Foundation is a not-for-profit charitable organization created in 1996. The mission of the Foundation is to improve the quality of life of the community through the accumulation and stewardship of enduring charitable gifts. For details about making a charitable gift or establishing a permanent endowment fund to benefit a charitable organization or interest in Clinton County, please contact the Community Foundation.
