Giving to the Tucker Community Foundation makes an impact now and forever

People give to charities for many reasons. Some want to help others. Some want to leave a personal legacy. Some want to be part of something bigger than themselves.

For nearly 30 years the Tucker Community Foundation has strengthened communities by helping residents and nonprofit organizations realize their dreams. The Foundation helps donors connect with causes they are passionate about and serves as a resource and support system for area charities.

“People do not give to the foundation, they give through the foundation,” said Robert Burns, executive director for the Tucker Community Foundation. “Generous and caring people are able to support their favorite charities today and beyond their lifetimes through the Foundation. At the same time the Foundation provides an opportunity for local nonprofits to build endowments to sustain their work into the future.”

Nonprofits often think only about the current year, but establishing an endowed fund allows the organization to manage its resources into the future, plan and, if necessary, survive a crisis. “Donors love the option of giving a gift that keeps on giving,” Burns said.

The Tucker Community Foundation manages more than 115 endowed funds that provide scholarship, grants and financial support to nonprofits and charitable causes in eight counties, Barbour, Grant, Mineral, Pocahontas, Preston, Randolph and Tucker counties, W.Va. and Garrett County, Md. These funds support a variety of causes, from animal welfare and youth to arts and culture, education, community and economic development, recreation, preservation of history and emergency services. A complete list of endowed funds can be viewed at tuckerfoundation.net/engage.

“Whether a donor wants to create a charitable fund to meet community needs, provide a steady income stream or ready assets for particular organization, we are ready to work with them,” Burns said. “An unrestricted endowed fund can be initiated with as little as $1,000.”

The Foundation offers the following type of funds for donors:

• Unrestricted – offers the broadest giving option. Unrestricted funds may be used for grant or scholarship awards.
• Field of Interest – allows individuals to target an area of need in a particular field (health, youth, senior citizens, education, environment, arts and cultural programs, animal welfare, historic preservation, etc.). The geographic area can also be identified.
• Donor Advised – allows individuals to enjoy ongoing involvement in the distribution of their gifts from the fund.
• Designated – names a specific organization to benefit from a gift.
• Agency Endowed – allows non-profits to create long-term endowments that will benefit their mission and purpose.
• Cemetery Preservation – used for the maintenance, historical preservation, and beautification of cemeteries that are governed by a board of trustees.
• Scholarship funds help students advance their education.

“Gifts of all types and sizes make a huge difference in our rural communities,” Burns said. “It can have an immediate impact or a lasting impact, it’s up to the donor and the type of gift. We work with donors to determine if we currently have a fund that supports their cause or if a new endowed fund needs to be created.”

The foundation accepts the following types of gifts

• Cash
• Appreciated Securities – Gifts of appreciated securities (stocks and bonds) can offer a double tax advantage.
• Life Insurance – Life insurance provides several options for giving. Individuals may donate an existing, paid-up policy and in turn they will get an immediate tax deduction for the gift, usually equal to the policy’s cash surrender value.
• Bequests – Individuals may designate the Foundation as a beneficiary of their estate to receive certain dollar amount or to be the residuary or contingent beneficiary.
• Other assets – Gifts of other appreciated assets (real estate, jewelry, coins, etc.) may be accepted subject to review.
• Charitable Remainder Trusts – This option is for individuals who need to maximize their income but would still like to make a charitable gift with their assets.
• Gifts from Retirement Accounts – If people have accumulated significant assets in a retirement account, they may want to consider designating the Foundation as a beneficiary of the account. Their estate will receive a deduction for estate taxes and the Foundation will not incur taxable income.

To learn about creating an endowed fund or how to support an existing one, visit www.tuckerfoundation.net or contact the TCF Administrative Office at 304-478-2930 or the TCF Development Office at 304-259-5008.