|
 |
|
The Coastal Bend Community Foundation is a public charity and is classified as a 501(c)(3) organization, making all gifts tax deductible. Most gifts will qualify for maximum tax deductions. Contributions of publicly traded stock and mutual funds, held longer than one year, are normally valued at market value for purposes of a charitable tax deduction to the Foundation. Donors are encouraged to consult their tax advisor to determine whether the alternative minimum tax might affect the donor's decision.
An Investment Committee, composed of various Board members who are highly knowledgeable in financial investment, supervises investments. Additionally, an independent consultant is employed to advise both the Committee and the Board on investment matters. The names of those responsible for the Foundation's investment program are available on request.
A donor may establish exactly the type of permanent or non-permanent fund desired, provided it serves charitable purposes. Many donors provide wholly undirected gifts to be used at the discretion of the Foundation Board of Directors in responding to community needs as they arise (unrestricted funds). Some donors designate specific areas of concern (field-of-interest funds). Others wish to make recommendations to the Foundation on how the funds are to be distributed (advised funds). Still others wish to provide financial assistance to students (scholarship funds).
Gifts can be in the form of cash, stocks and bonds, IRAs, mutual funds, art works, life insurance proceeds, real estate, oil and gas income or interests, bequests, collectibles and other recognized forms of charitable giving such as lead trusts, life income trusts and group memorial funds. Gifts of stock can be donated, then converted to cash and be distributed to several other charities, eliminating confusing, time-wasting paperwork.
 |
|
|
|
|
|
|
|
