Gifts In Life; Gifts After Death

There are many ways in which the Foundation can assist donors in fulfilling their charitable goals. The Foundation manages more than 120 designated funds, funds that benefit specific organizations, like those Steve Robert made his gift to. Field of interest funds support specific causes, for example, youth, animals, the elderly, or specific geographic areas, like our town endowment funds that benefit Gaston, Selma, and Yorktown. Just as Steve did, donors wishing to support a specific organization or program in an organization can add to an existing fund or consider establishing a new fund.

The Foundation can accept gifts of cash or check, by credit card, gifts of appreciated assets such as stock or property, real estate, life insurance, or crops. The Foundation can even work with you on more complicated gifts such as charitable lead and remainder trusts, gift annuities, or transfers from private foundations.

Some donors even choose to name The Community Foundation in their will. A bequest left to the Foundation can be directed to any fund, or with planning, establish a new fund. When Jim and Betsy Pyle moved to Delaware County, they found the many community organizations here enriched their lives. When Cornerstone Center for the Arts was established, Betsy, who worked with children through the Muncie Public Library, was especially interested in its programs at Cornerstone that enriched arts experiences for children. To extend her support of the organization, she included a bequest to the Cornerstone Center for the Arts Fund at The Community Foundation, which was received this spring. Betsy passed away on January 13.

“The Community Foundation offers us an opportunity to support these groups,” said Jim Pyle about Betsy’s gift. “In particular, endowment funds offer a chance to support them for a long time. For those wishing to leave a legacy to the community, this is a truly fulfilling approach.”

A BEQUEST CAN LAST FOREVER

A bequest in a valid will or trust gives you and your spouse full use of your income and assets during life for personal and family needs, leaving what is left to heirs and favored charities. Most Americans die without a will or trust, even though it is the foundation of every estate plan. We strongly advise that you use an estate planning attorney for your will or trust and other estate planning like a durable power of attorney. Your advisor may advise you that a revocable beneficiary designation on a retirement plan is a better option for charity since those assets are taxed to your heirs, unlike what they inherit under a will or trust (except few subject to estate tax).

The language to include our Community Foundation in your will or trust is, “I give, devise and bequeath to The Community Foundation of Muncie and Delaware County, Inc., a nonprofit with principal offices in Muncie, IN, (the sum of/designated asset/percentage of/residue of my estate), to be used for its general charitable purposes.” This creates an unrestricted and spendable gift, highly prized for flexibility, and for our community’s unanticipated future needs. You can also restrict your gift to endowment or for a beloved local charity. To learn more about how simple it is to include The Community Foundation in your will or trust, contact Kelly K. Shrock, president, at 765-747-7181 or kshrock@cfmdin.org.