Giving to the Foundation

How To Give

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One of the goals of the Community Foundation of Whitley County is to help a wide variety of donors fulfill their philanthropic interests. We can help to provide an appropriate vehicle for giving that is easy, personally rewarding and cost effective. There are a variety of tax effective ways to give gifts; donors can contribute to our Greater Good Fund, designate their gift to one of our named funds, or create a fund to focus upon their own charitable interests. 

 

This article is a good read on why giving to the Community Foundation is particularly important during times of crisis.

10 Ways Community Foundations Are A Best-Bet For Disaster Giving

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Cash
Cash, usually in the form of a check, is the most common form for charitable gifts. Cash gifts enable donors to claim a current income tax deduction of up to 50 percent of their adjusted gross income in the year of the gift with a five year carry-forward period.

Checks
Make checks payable to “CFWC,” note the name of the fund in the memo line and mail to:

Community Foundation of Whitley County
400 N. Whitley Street
Columbia City, IN 46725

eCheck
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Make a Credit Card Gift
For your convenience, the Community Foundation of Whitley County uses Paypal to make on-line giving safe and easy for our donors. Upon receiving notice of a contribution from Paypal, The Community Foundation of Whitley County will acknowledge the tax deductible contribution with a letter to the donor.

Stocks, Bonds & Mutual Funds
Giving highly appreciated publicly-traded securities is a “tax-smart” way to accomplish charitable giving goals. Donors avoid capital gains taxes on the appreciated value and receive a charitable deduction for the full market value of the stocks or mutual funds (up to 30% of a donor’s adjusted gross income in the year of the gift, with a five-year carry-over).

Real Estate
Donating a parcel of property can yield significant tax savings. Donors avoid capital gains tax and receive a charitable deduction of the fair market value. All gifts of property must meet The Community Foundation of Whitley County’s gift acceptance guidelines.

Personal Property
The Community Foundation of Whitley County accepts gifts of tangible property (e.g. art, antiques, rare books, jewelry, gems, collections, etc.). We even accepted a house trailer once! Some restrictions apply and gifts valued at more than $5,000 require an independent appraisal.

Life Insurance
Gifts of life insurance enable donors to make a future major gift to the Foundation at a relatively modest cost. Donors may name the Foundation as the owner and beneficiary of existing policies that they no longer need. Alternatively, donors may purchase new policies and name the Community Foundation as the owner and beneficiary. Donors are entitled to a federal income tax deduction for the cash surrender value in the year the gift is made.

Gift and fund acceptance policies are available upon request. Contact September McConnell at 260-244-5224 or septemberwccf@gmail.com.

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  • Contact the Foundation at 260.244.5224.
  • We'll work with you to develop a giving plan that meets your charitable and financial goals.
  • You'll make your initial gift to your fund, or work with your advisor to create a planned gift.
  • The Foundation will complete your agreement, returning a copy to you along with a gift acknowledgement letter for your tax records.
  • You'll be in contact with a Foundation staff member, who will provide guidance as you use your fund to make a difference!
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John Lefever
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Generous donors have established many different types of funds for various causes at the Community Foundation. To see a current listing and learn a little more about each fund, click here.

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Is my gift tax deductible?

Yes!  All gifts are tax deductible to the full exempt of the law.  If you have questions, about your particular gift, please contact the your tax professional or the foundation.

Can I establish a fund for any cause?

Yes!  As long is it is charitable and helps a broad class of recipients.

How much of my gift will go to the cause the fund was established for?

100% of all gifts go to the fund and are not used for administrative fees; the 1% fee charged for administration comes directly from the earnings of the fund.

Giving a Helping Hand Fund

“The Giving a Helping Hand Fund was entirely her idea and for generations to come, it will benefit K-5 elementary school teachers new to Whitley County Consolidated Schools.”

Endowed Giving

There’s a name for charitably-minded people who choose to invest in causes they care about – they are called philanthropists. Contrary to old beliefs that it takes a Rockefeller or a Bill Gates to be philanthropic, here in Whitley County local residents have found they can make a positive difference with gifts large and small, to support causes and organizations serving to meet needs and enhance our community.

When they make gifts to an existing endowment fund or create one of their own, our donors understand that their contributions will never be spent. Ever. Instead, their gifts are saved and wisely invested to produce earnings that are used to make grants or fund scholarships. A legal Fund Agreement ensures the Community Foundation is obligated to distribute the earnings pursuant to the donor’s intent. This means a fund started to support history will always support history. A nursing scholarship will always be awarded to a student who wants to become a nurse.

Typically, only a portion of the earnings are distributed each year, allowing endowment funds to grow over time and last forever. As the years go by, grants or scholarships generated by the endowment will far exceed the amount of the donor’s original gift.

Whether donors want to create a named fund or direct their gifts to any number of causes, we’re here to assist.

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