Leave a Legacy
Types of Gifts:
The Shelby Community Foundation accepts monetary donations and well as non-cash gifts from supporters.
Outright Gift. Cash, stock, bonds, real estate, or personal property can be transferred to the Shelby Community Foundation. The gift may qualify for maximum charitable benefit under state and federal law.
Bequest. A gift or a portion of an estate can be designated and transferred to the Shelby Community Foundation. In some cases these bequests receive a substantial reduction in federal gift and estate taxes. Please check with your tax adviser.
Types of Funds:
Donors to the Shelby Community Foundation enjoy distinct advantages in pursuing their charitable goals. They have the following choices:
Endowment Funds. Endowment funds are established to use only the earnings for charitable needs. Therefore, the principal of the fund remains and will continue to have an impact long after the original gift is made. In addition, the fund can be established in a name chosen by the donor. All grants distributed from that fund – today and in the future – are awarded with the chosen name of the endowment. The name will always be remembered and linked to good works within the Shelby Township community. For Good; For Ever!
Non-Endowed Funds. A non-endowed fund can also be established. The principal and the earnings can be granted for charitable needs.
Whether a fund is endowed or non-endowed, both types of funds can have the following designations:
- Unrestricted Funds – Established with no particular restriction for where the money is granted. Can be used for ever-changing community needs, which often cannot be anticipated at the time a gift is made.
- Field of Interest Funds – The donor identifies a personal area of interest for a charitable cause when making the initial gift. The Shelby Community Foundation Board of Directors awards grants to that charitable cause as identified by the donor.
- Designated Funds – Grants are directed to a specific agency or purpose. The Foundation manages the distribution of funds.
- Donor Advised Funds – Provides donors with ongoing involvement in the grant making process. Working with the Shelby Community Foundation, the donor recommends grants for a charitable cause to address community needs.