This video will enable you to see how other people have used the Skagit Community Foundation to further their charitable goals. Hopefully you will feel inspired to join them and share in the joy and reward of seeing your gifts make a difference.
The First Step
THE COMMUNITY FOUNDATION DIFFERENCE
Determining where one's money can have the most direct and lasting impact is a confusing and time-consuming process. That's why thousands of Americans have chosen community foundations, the fastest growing instrument of planned giving in the United States, as their preferred vehicle for philanthropy.
What is the difference between a community foundation and other types of foundations?
Community foundations are supported by a broad group of individuals and anyone may participate. They truly belong to the community they serve: the money comes from the community, the board of directors represents the community, the money goes back into the community.
A community foundation is a collection of resources given by local citizens to enhance and support the quality of life in their community. It is a tax-exempt public charity that allows many individuals, through gifts and bequests, to establish permanent endowment funds within one large foundation. A portion of the income is granted to the community through grant requests from local 501(c)(3) organizations.
WHAT WE OFFER YOU
Giving is personal. We are here to support your ideas for the community.
We provide fund investment and accounting management and ensure that tax and audit requirements are met. We award grants based on your recommendations, and audit grant recipients to ensure that your donations are doing the most good and are in alignment with your philanthropic goals.
What is the first step?
Call the Foundation office at 360-419-3181 to begin the conversation. We work closely with professional advisors to create the supporting documents you will need. There is no cost on our end to facilitate a gift.
TYPES OF GIFTS
Ask yourself the following questions:
These kinds of questions constitute the exercise known as Planned Giving.
Planned gifts enable you to give to your favorite charity during or after your lifetime while meeting your current income needs, providing for your heirs and receiving the maximum allowable tax benefits. The Skagit Community Foundation accepts a variety of assets that can be used for charitable giving. Contact us if you have any questions. As always , we encourage you to work with an attorney or your C.P.A. to determine which option is best for you.
Cash, stocks, real estate.
Insurance or Retirement Plans
Life insurance or retirement plans can be used as gifts by naming The Skagit Community Foundation as a beneficiary.
Bequests By Will
List a charitable contribution of your estate in your will.
Charitable Remainder Trust
This is a permanent transfer of cash or assets that is managed by a trustee who pays income to you or other beneficiaries.
Charitable Lead Trust
You can choose to give to charity while living and transfer your wealth to your heirs upon your death. There is a substantial tax benefit.
Stocks and Bonds
HOW TO CONTRIBUTE
What kinds of giving options are available to donors?
Donors can establish funds in their name, family’s name or the name of any person or organization(s) they wish to honor. Once that fund is established, grants can then be distributed from that fund and awarded to local organizations. Named funds can be created in any of these categories:
What are the Financial Benefits & Tax Advantages?
The Federal tax code provides significant incentives for contributions to a community foundation. Consult your professional advisors for details.
Donations can be made
Mount Vernon, WA 98273
IF YOU WANT TO CONTRIBUTE TO THE ENDOWMENT OF ONE OF YOUR FAVORITE CHARITIES, WRITE THEIR NAME IN THE MEMO LINE ON THE DONATE NOW PAGE OR CONTACT MARY MCGOFFIN DIRECTLY.