Ways to Give & Types of Funds

There are a variety of ways you can make a gift to the Parke County Community Foundation, and our staff will work with you to make the process as smooth as possible. 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

The most common type of gift made to most organizations is the gift of cash. This includes cash, checks, and credit cards. A donation of cash is a simple and easy way for you to make a gift.

Benefits of Gifts of Cash

• You can make an immediate impact on our mission
• You can earn a charitable income tax deduction

How 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 payment system.

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 by including a letter with your gift.

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!

Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way 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.

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.
• Receive 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 estate 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 estate 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.  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 may have.

For more information click here.

A gift of a 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 to 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.

A business owner can donate stock to a charitable organization, after which the corporation may choose to repurchase the same stock. The donor may be eligible to claim a charitable deduction based on the fair market value of the stock at the time of the gift—while also potentially avoiding capital gains tax.

When you donate property to a charitable organization, you may be eligible for an income tax deduction equal to the property’s full fair market value—provided the property is used to further the charity’s exempt purpose. If not, the deduction is generally limited to the property’s adjusted cost basis. A qualified appraisal is typically required to substantiate the value of the donation.

How to Make a Gift of Grain or Livestock

1. Contact the Parke County Community Foundation and let us 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 transfers the gift to the Foundation, allowing the producer to not have the grain or livestock classified as income.

3. Let the Foundation know where you want the proceeds of the gift and any 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 Funds are unrestricted funds that permit the Parke County Community Foundation the greatest flexibility in responding to present and future local charitable needs.  Donors can start a Legacy Fund with a gift of $500 or more.  Once a Legacy fund reaches $10,000 it becomes a Heritage Fund, and grants can be issued in the fund’s name to meet the ever-changing needs in our community for generations to come.

Click here to learn more.

A Donor Advised Fund (DAF) established with the Parke County Community Foundation provides ongoing support for charitable and other qualifying exempt purposes. The donor, or a designated advisor, recommend annually how the fund is distributed.

When a donor contributes to a DAF, it is an irrevocable gift to a charitable organization, eligible for an immediate income tax deduction equal to the full amount of the contribution. While donors can advise on how the funds are used, they cannot impose material restrictions on the fund.

Click here to learn more.

The Parke County Community 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 scholarship fund (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.

Click here to learn more.​

Designated Funds (also known as Designated Agency Funds) established with the Parke County Community Foundation are created to provide ongoing support to a specific public charity—such as a local art museum, theater, church, or similar organization. Once established, these funds require no further input or recommendations from the original donor or any other designated individual.

Each year, the designated beneficiary organization determines whether to withdraw the fund’s annual earnings for immediate use or reinvest them to grow the fund’s principal and future earning potential.

Click here to learn more.

Field of Interest Funds enable donors to choose a particular field of interest, such as youth, education, senior citizen needs, the arts, etc.  The Parke County Community Foundation evaluates needs within the specified field and responds to those needs in the name of the fund.

Click here to learn more.

Administrative Funds assist the Parke County Community Foundation in its work and 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.

If you wish to support several charitable causes, it is possible to design a fund with the Parke County Community Foundation 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.

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.

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