|LCCF accumulates, manages, and disburses charitable donations. Learn more about how you can make a tax-deductible donation.
How can you contribute?
The Board realizes that the success of growing the Latah County Community Foundation will depend upon the participation of many individuals in the process of strengthening the Foundation’s resource base. The Foundation is not supported by tax dollars. Here are ways that you can make a significant difference:
Your Benefits as a Donor
Civic Responsiveness – A Catalyst For Change
The needs of society and a community change over time. The Board of Directors of the Community Foundation will also change over time and will seek to identify the most promising opportunities for use of available resources. We seek to fill the needs of our community that are unmet, and to reward and inspire creative and imaginative ways to fill those needs.
Perpetuity-We’re Here Forever
One of the primary goals in creating the Foundation is for the pooling of your donation with those of past donors and those yet to come. We seek to form a lasting endowment. You can be assured that your contributions are safeguarded and will generate income forever.
The Community Foundation awards grants in areas such as civic improvement, health, the arts education, youth services and the environment. We believe our grants are most helpful when used to build on potential, to fund imagination and to fulfil unmet needs of our citizens and the community. We look for sound approaches to issues, collaborative efforts among groups, and volunteer citizen involvement.
Tax Benefits – A Gift to You
Charitable gifts to the Community Foundation enjoy generous advantages under income and estate tax laws. For significant amounts, you may want to seek the advice of a certified public accountant, trust officer, financial advisor, or attorney.
Quality Investment Management
The Foundation understands that the endowment exists to provide a perpetual source of funds to the community for charitable purposes. Our investments are managed by a financial specialist who meets regularly with the Foundation Board to help us select managers, to monitor investment performance against industry benchmarks, and to recommend actions to the Board for sound management of your investment in the Foundation.
The Community Foundation will seek to provide comprehensive information on its programs and activities to the public. The Foundation will be audited annually. Grant lists and other current information are available upon request.
Ways to Give to the Foundation
Cash and Securities
You may contribute cash in any amount to the Foundation by making a check payable to the Latah County Community Foundation. Gifts of securities are attractive, especially if they have appreciated over the years. Capital gains to the donor are generally avoided and a significantly larger gift to the Community Foundation may be realized.
Other assets, including real estate, interests in limited partnerships, works of art, and intellectual property (copyrights and patents), may also be used to establish a trust with the Community Foundation as beneficiary. Trusts may be created with life insurance policies naming the Community Foundation as beneficiary. You will receive an immediate tax deduction equal to the cash surrender value of the policy, and all premium payments thereafter are deductible.
The Community Foundation offers an excellent vehicle for charitable giving by corporations. The fund carries the corporate identity with each grant given, and assures that charitable dollars are being put to good use for a broad range of community purposes.
Gifts in your Will
You may include the Community Foundation in your Will and Estate plans. Gifts may be in the form of cash, securities, IRA’s, insurance policies, and real or personal property. The following is suggested language you may use:
“I give and bequeath____________(describe bequest) to the Latah County Community Foundation for its charitable purposes….”