How Does the Foundation Increase Its Assets?
The Foundation encourages friends and members of First Community Church to make immediate and/or deferred gifts to the Foundation, which are invested. Funds may be established in honor or memory of a loved one, or to further a project or ministry of particular interest to the donor. Cindy Sue Gepfert, First Community Foundation, works with donors to help them maximize their gifts, as well as provide information on the various ways donors can give.
Why Is it Important to Consider First Community Foundation in Your Estate Plans?
First Community Foundation provides a meaningful way of demonstrating appreciation for the church’s work in the greater community, allowing it to continue long into the future. It is a way of leaving our own legacy of faith for future generations. Your generosity is vital to the lifeblood of the Foundation, allowing it to perpetually fund needs of the church and its worthwhile programs and ministries.
When considering a gift you may find that you can have an even greater impact by carefully planning the specific type and timing of the gift. Although you will always want to consult your attorney or financial adviser regarding your personal financial situation and goals, the suggestions found in these pages may be of interest to you when considering or planning a gift to First Community Foundation.
What Are the Benefits of Giving?
In addition to the satisfaction that comes with knowing your gift makes a positive impact on your church and community, there are many benefits to giving to the Foundation. Cash gifts may be deductible from your federal and/or state income tax return. Charitable gifts included in your estate plans can result in significant tax savings, as well.
Consider making larger gifts in years when you have more income and will be in higher tax bracket. When appreciated securities are donated, for example, you may be entitled to a deduction for full value, not just the original cost. This could result in a tax savings on “paper profits” you have not yet realized. Many employers match their employees’ charitable gifts, effectively doubling the gift. Check with your employer regarding your company’s policy.
What Categories Are There for Giving?
- Gifts may be made in “memory of” or “in honor of” a family member or friend.
- Gifts may be made to already existing Foundation funds.
- Gifts may be made to establish a “named fund.” A minimum gift of $5,000 is required to open a fund bearing a name.
- Gifts may be given to establish a name endowed fund. A minimum gift of $25,000 is necessary to open a named endowed fund.
- A fund may be established to support a particular ministry or program of interest to the donor.