 Helpful Articles
from David Vollrath,
Union County Foundation Executive Director
The Foundation encourages you to work closely with your professional advisor(s)
as you develop your estate plan and consider your present and future charitable goals. |
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What is a “donor advised fund” and what can it do for me??
(Part of a series of articles on charitable giving and the Union County Foundation
by David Vollrath - Exec. Dir.)
One of the easiest ways that individuals can support charitable giving in Union County is through the many “donor
advised funds” housed within the Union County Foundation. A donor advised fund is
a specific named fund that distributes charitable dollars to specific charitable causes per the suggestions of
the Fund's advisor. For example, the United Way of Union
County Lasting Legacy Fund supports the local United Way. The Kiwanis Scholarship Funds
support annual scholarships to graduating seniors from Marysville and Fairbanks High Schools. The Law Enforcement
Memorial Fund supports the future placement of a bronze statue at our county Courthouse to memorialize Law Enforcement
Officers who have given their lives in the line of duty. These are but three examples of over
20 various donor advised funds housed within the Union County Foundation. We offer a
menu of “charitable choices” that allows you to easily select multiple charities that you want to support through
one tax-deductible contribution.
As an individual or organization you can donate to and create your own donor advised fund within the Foundation.
Through your individual fund you can essentially suggest and support charitable distributions that are important
to you. These distributions might be to your local church, local alumni association, local hospital, or any number
of other IRS qualified charitable organizations. Significantly, you can name your donor advised fund in honor of
a parent, loved one, family name, or anyone who has impacted your life in a positive way. This is a meaningful
way to honor the legacy of those who have made a difference in your life.
As you can see, the donor advised fund is a wonderful charitable tool and the story gets even better! A donor
advised fund allows the donor(s) to take a 100% charitable deduction (up to 50% of your adjusted gross income for
a cash donation) at the time of the donation. The interest and/or principal in the fund can then be disbursed over
a number of years or even into perpetuity. The Union County Foundation takes care of all the administration, accounting,
and tax reporting for each fund.
Call us at 642-9618, email us or stop by our offices at 126 N. Main St. for a complete listing of our donor
advised funds and for specific information on how you might create your own fund. Such a fund, allows you to...
preserve your footprint in time. |
