Caroline Montgomery Clark
IT Services Director
These options allow you or your clients to establish their own funds to support charitable organizations that they recommend to the Foundation's board. Options including pooling their gifts with others, using funds designated to support public education, cultural arts, neighborhood improvement, and other fields of interest.
When you establish an unrestricted fund, your gift can address a broad range of local needs, including futureneeds that often cannot beanticipated at the time your gift is made. The flexibility of your unrestricted gift allows the community foundation’s board to respond to the community’s most pressing needs and opportunities. These permanent endowments provide an essential pool of charitable capital.
A Living Legacy. CACF founder Fred Richard was a well-respected accountant and a supporter of many of Montgomery’s cultural arts programs. Fred had no children and wanted to leave a large portion of his estate to provide a lasting gift to this community. His bequest of over five million dollars provides support to many area non profits through the grants made from the fund. It will continue to provide that support forever.
Establishing a field-of-interest fund allows you to target your gift to address an area of community life or an issue of concern, such as children, education, or senior citizens. CACF’s board awards grants to organizations and programs that are making a difference in the area you select. A fund may be open-ended to accept additional gifts from others who share similar interests.
Montgomery Public School Endowment. Supporting public education is essential to a healthy community. Hundreds of individuals have made gifts to this endowment, which makes grants to support students and teachers.
Establishing a donor advised fund allows you to make a gift to your community foundation, then remain actively involved in suggesting uses for your gift. These flexible funds for individuals and business are ideal for satisfying a range of community interest, and are typically less costly and easier to administer than other forms of giving, such as private or corporate foundations.
Matching maximum tax benefits to donors’ desires. When local businessman Todd Strange sold his successful car dealership, he wanted to put aside some of the proceeds for charitable purposes. “I knew the benefit of a tax deduction that year would be helpful, but I wanted to be able to support several different charities over a period of years. A donor advised fund allowed me the option of making a donation when I wanted to while remaining active with the fund by suggesting recipients.”
Establishing a restricted fund allows you to support the good work of a specific nonprofit organization – a senior center, museum, or social service agency. Your gift provides more than just funding – your favorite organization will benefit from your community foundation’s investment stewardship. CACF regularly reviews designated charities to ensure each continues to serve the purposes and functions the donors wish to support.
Judy Bryan’s mother was always a strong supporter of the Meals-On-Wheels program of the Montgomery Area Council on Aging. Judy herself volunteers with the program. “It was so logical to fund an endowment for the program that had been important to my mother.” The Sarah Cabot Pierce Fund provides ongoing support for Meals-On-Wheels.
Establishing a scholarship fund is an investment in the future. Your gift can help students achieve their educational goals, while honoring a parent or loved one. You may create a scholarship for students from a particular school, for those attending a specific college or enrolled in a specific area of study. The Foundation handles the application process and oversees distribution of the awards.
Mr. Roger Santee believed that deserving youth should have the means to attend college, especially youth whose family situations had been less than ideal. He established a scholarship fund for youth who had lived at the Alabama Sheriffs’ Girls and Boys Ranches. His gift has helped many of these deserving youth attend college.
Gifts of Cash
Gifts of cash are deductible up to 50% of adjusted growth income.
Gifts of Stock & Bonds
Gifts of appreciated stock offer a two-fold tax saving:
an income tax deduction for full fair market value of the stock at the time of the gift and an avoidance of any capital tax gains on the increase in the value of the stock. Appreciated stock gifts are fully deductible up to a maximum of 30% of adjusted gross income.
A gift of property may avoid capital gains tax while allowing the donor a charitable deduction for the full fair market value of the property.
Life Income Gifts
Charitable remainder trusts provide an annual income to the donor or his beneficiary. Upon the termination of the trust,
the assets of the trust are transferred to the Foundation to be used for charitable purposes. The donor receives income for life and a charitable deduction for tax purposes.
By purchasing a new policy or donating a currently owned one, the donor may receive a deduction for the value of the policy simply by designating the CACF as owner and beneficiary of the policy.