You
have an opportunity to make an investment in Enid that will last forever…through
the
Enid Community Foundation.
Foundation
Mission
The
Enid Community Foundation is a non-profit philanthropic organization that serves
the charitable needs of Enid and surrounding communities through the development
and administration of endowment funds with the goal of preserving capital and
enhancing its value to benefit the Enid Community.
A
United Effort
The
foundation differs from other non-profit organizations, but works in concert with
them to improve the quality of life in our community.
It
is different in that…
- Gifts
to the ECF are never raised through payroll deductions
or yearly fund drives.
- Gifts
to the ECF are used for endowment purposes as well as other fund purposes.
- ECF
grants are available to fund projects that other organizations may not support,
such as emergency funding, research, educational, cultural, or pilot projects.
Local and Regional
non-profits are all eligible to receive ECF grants.
Contributions
The Enid
Community Foundation is a non-profit, 501(c)(3) public foundation. Tax
deductible donations are received from individuals, businesses, and other
entities that share the dream to build Enid's future. Your financial advisor can
advise you on the tax advantages of a gift to the ECF.
The vast majority of funds are managed as perpetual endowments, but there are other fund options.
The
ECF is not a place to give money, but rather a method of giving money.
Donor
Options
Donors
to the Enid Community Foundation have the following
fund options:
-
Agency Funds allow
nonprofit agencies to take advantage of the foundation's investment money
managers and still have access to their funds.
-
Gift Funds
serve the needs of donors having a longer-term distribution plan with the
option of investment growth and the flexibility to eventually distribute the
entire gift for charitable purposes.
-
Undesignated
Funds
provide money that is awarded
in grants by the Foundations Board of Directors. An undesignated donation is ideal
for those who want to leave a legacy that will benefit many concerns within our
community.
-
Field
of Interest Funds are tied to
a general area of interest and not to a specific organization. We use your suggestions
and other criteria to select grant recipients.
-
Donor
Advised Funds allow you to suggest
what charitable cause should receive money, upon approval of the Foundation's
Board of Directors ($10,000 minimum).
-
Designated
Funds allow donors to designate
payments at the time of the gift to a named charity, agency, or specific project.
An individual organization with a donation of $10,000 or more may set-up a designated
fund.
Making
A Contribution
To
make a contribution, call the Enid Community Foundation
or visit with your attorney/financial advisor for additional information. You
can make a contribution in the following ways:
-
Outright
Gifts
are a simple, convenient
way to donate and receive maximum tax advantages. Money, securities, or personal/real
property are the usual gifts.
-
Bequests
of cash or property through a will are usually fully deductible for Federal and
state tax purposes. The Foundation can also be named as the residuary beneficiary
of a donor's estate, or be named in a charitable remainder trust created by the
will.
-
Life
Insurance (with the Foundation as the irrevocable beneficiary of a life
insurance policy) allows donors an immediate tax deduction in the amount of the
cash value of the policy. Insurance premiums paid thereafter by the donor are
deductible as a charitable gift.
-
Memorials
made in memory of deceased persons, or in honor of living persons, are generous
testimonials. Creation of a memorial fund in the ECF is also a means of achieving
permanent memorialization.
-
Charitable
Lead Trusts name the Foundation
as the beneficiary of income from a trust for a specific number of years. The
corpus, or bulk of the trust, eventually passes to other named beneficiaries such
as children or grandchildren.
-
Charitable
Remainder Trusts enable the donor
to provide a lifetime income to themselves or beneficiaries and leave the remainder
of the estate to the Foundation.
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