Types of Funds
The Parke County Community Foundation accepts a variety of gift vehicles, and our staff works with you to make the process a smooth one for your clients. We also manage a variety of types of funds to give our donors the maximum amount of flexibility in helping to fulfill their charitable dreams for our community.
Types of Gifts
Gift of Cash
Benefits of gifts of cash
You can make an immediate impact on our mission You can earn a charitable income tax deductionHow to make a gift of cash
Online gifts of cash – Just go to the top of the page and click on Donate. Your gift will be processed quickly and safely using our secure server. Mailing a gift of cash – You can send us a check or money order. Please let us know if you want your gift used for a specific purpose by indicating that purpose either in the memo line or in a letter to us.More on gifts of cash
Did you know that you can mail a check on December 31st and, even if the check is not received and cashed by The Parke County Community Foundation until after the new year, the IRS will allow you to take a deduction in the year the check was mailed? Keep this in mind for year-end tax planning!
Gifts of Stocks and Bonds (Appreciated Securities)
Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to the Parke County Community Foundation.
Benefits of gifts of stocks and bonds
Avoid paying capital gains tax on the sale of appreciated stock
Receive a charitable income tax deduction
Further our mission today
How to make a gift of stocks and bonds
By electronic transfer – Please contact us for instructions on how you can transfer stock or bonds from your brokerage or investment account to The Parke County Community Foundation.
By certified mail – If you hold securities in certificate form, you will need to mail two envelopes separately to complete your gift. In the first envelope, place the unsigned stock certificate(s). In the other envelope, include a signed stock power for each certificate. You may obtain this power from your broker or bank. Please remember to use certified mail.
More on gifts of stocks and bonds
There are special rules for valuing a gift of stock. The value of a charitable gift of stock is determined by taking the mean between the high and low stock price on the date of the gift. Mutual fund shares are valued using the closing price for the fund on the date of the gift.
For more information click here.
Gift of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to The Parke County Community Foundation.
Benefits of the gifts of Real Estate
Avoid paying capital gains tax on the sale of the real estate.
eceive a charitable income tax deduction based on the value of the gift
Leave a lasting legacy to The Parke County Community Foundation
How to make a gift of real estate
Your real property may be given to The Parke County Community Foundation by executing or signing a deed transferring ownership. You may deed part or all of your real property to The Parke County Community Foundation. Your gift will generally be based on the property’s fair market value, which must be established by an independent appraisal.Contact us If you have any questions about gifts of real estate, please contact us. We would be happy to assist you and answer any questions that you have.
For more information click here.
Gift of Life Insurance
A gift of your life insurance policy is an excellent way to make a gift to The Parke County Community Foundation. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy to the Parke County Community Foundation. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
Benefits of gifts of life insurance
Receive a charitable income tax deduction
If the Parke County Community Foundation retains the policy to maturity, you can receive additional tax deductions by making annual gifts so that we can pay the premiums
If the Parke County Community Foundation cashes in the policy, you will be able to see firsthand how your gift supports our charitable work
If we retain the policy to maturity, or you name us as a beneficiary, once the policy matures, the proceeds of your policy will be paid to our organization so that we can use the proceeds to further our charitable work
How to make a gift of life insurance
To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include The Parke County Community Foundation as the beneficiary of your policy.
For more information, please click here.
Gift of Closely Held Securities
Gift of Personal Property
Gift of Grain
What is the process for making a gift of grain or livestock?
1. Contact the Foundation and let them know of your intent to make a commodity gift. We can then contract the elevator/stockyard to arrange for the sale of the commodity after you (the producer) make the gift.
2. Fill out and present to the elevator/stockyard a form entitled “Letter from the Producer” for grain or livestock. The link can be found on the “Forms” page of the PCCF website or can be picked up from the Foundation office or can be emailed to you. This form transfer the gift to the Foundation allowing the producer not to have the grain or livestock classified as income.
3. Let the Foundation know where you want the proceeds of the gift and the match earned to be placed (ex. Legacy Fund, Designated Fund, Scholarship Fund, etc.)
Fund a gift annuity with grain and receive income for a lifetime
Producers can also make gifts of commodities to the Parke County Community Foundation and receive the annual income from the gift for up to two lifetimes. Whether for current income, deferred retirement income, or for a child or grandchild’s college education, a charitable gift annuity allows the donor a great annual rate of return (usually between 4-8%, depending on your age).
Types of Funds
Legacy Fund (Unrestricted)
Permit the Foundation the greatest flexibility in responding to present and future local charitable needs in the name of the fund. Donors establishing Legacy Funds know their gift will meet the ever-changing needs in our community for generations to come. A Legacy Fund can be started with a gift of $500 or more.
Donor Advised Funds
The Donor Advised Fund is established at the request of the Donor to the Foundation to provide support for charitable and similar exempt expenditures or recipients recommended by the Donor or person designated by the Donor to advise the Foundation.
In otherwords, The donor makes irrevocable contribution to a restricted fund maintained by charitable organization. Income tax charitable deduction for full amount of gift; donor may advise regarding fund distribution, but donor may not place material restrictions on the fund.
Scholarship Fund
The Foundation is well known for its extensive scholarship program. Many donors create Scholarship Funds as memorials to loved ones and friends. Donors have the option to define the criteria of their funds (e.g., to serve students entering a particular field of study or graduating from a specific high school, etc.). A scholarship fund can be started with a gift of $25,000 or more.
Designated Agencies or Institutions Funds
These funds are designed to benefit specific public charity (e.g, the local art museum, hospital, symphony), with no future or advice or recommendations from the Donor (or any person designated by the Donor).
Field of Interest Fund
These types of funds enable donors to choose a particular field of interest, such as youth, education, senior citizen needs, the arts, etc. the Foundation evaluates needs within the specified field and responds to those needs in the name of the fund.
Administrative Funds
Funds assisting the Foundation in its work enable our organization to maintain modest levels of fees for services to the community. Your Administrative Endowment Fund will receive ongoing recognition in the Foundation’s Report to the Community, and will ensure our ability to maximize our mission to the community.
Combination of Charitable Purposes Funds
If you wish to support several charitable causes, it is possible to design a fund which will distribute a combination of charitable grants each year. For example, a percentage of your fund’s annual income can be distributed to a specific charity and the balance can be reserved for scholarships. Or, set percentages can be awarded to specific charities with the balance earmarked for a particular field of interest, such as senior citizen needs or the environment. We welcome your participation and creativity in the design of your charitable fund.
Create a New Fund
If you’re interested in creating a new fund with the Parke County Community Foundation, click here to see the five steps on setting up a new fund or contact our office.