- Home »
- Becoming a Donor
Becoming a Donor
Give a gift
The Erie Community Foundation cannot accomplish anything without donors who support our mission. While our named funds normally begin with gifts of $10,000 or more, ECF accepts gifts of any size. Gifts can be made to our general fund or to any of nearly 500 named funds.
Additionally, we have significant experience facilitating gifts of appreciated securities, real estate, as well as with the creation of charitable gift annuities, charitable remainder and charitable lead trusts.
The vast majority of our named funds are permanently endowed. Smaller, non-endowed, gifts are distributed to our community through gift annuities, charitable remainder and charitable lead trusts.
- Charitable Endowments (345.9 KB)
Take Advantage of the Pension Protection Act
The Internal Revenue Service recently extended the special provision of the Pension Protection Act of 2006 that permits Charitable IRA Rollovers to include gifts from IRAs in 2008 and 2009. As part of the Emergency Economic Stabilization Act of 2008, the IRS included this tax-free gift option with other amended tax provisions that support higher education.
“The provision allows individuals age 70 ½ years and older to transfer up to $100,000 per year directly to a qualified charity from a traditional or Roth IRA without having to claim any increased income or pay any additional tax,” said Kevin E. Moore, MPA, vice president of Philanthropic Stewardship and Regional Affiliates. “This is a wonderful opportunity for donors to support their funds or the unrestricted fund at The Erie Community Foundation.” Note: To qualify, IRA distributions must be received by December 31, 2008. To learn more, contact Kevin Moore at 814-454-0843.
Charitable Gift Annuities May Be the Answer
During these difficult economic times, your Erie Community Foundation offers a way for you to guarantee yourself an income for the rest of your life and make a substantial gift to your favorite charity. “A Charitable Gift Annuity can accomplish both of a donor’s goals,” said Kevin Moore, MPA, vice president of Philanthropic Stewardship and Regional Affiliates. A Charitable Gift Annuity is a contract between a donor and the Foundation where a gift ($10,000 or higher) gives the donor an opportunity to make a significant financial impact on a favored charity while also securing a lifetime income.
The National Committee on Gift Annuities establishes the payment rates, which are based upon the annuitant(s) age(s) at the time the gift annuity contract is established. “Best of all, a donor can lock in a rate to avoid fluctuation during uncertain economic markets,” Moore added. “Capital gains, if there are any, are spread out over the life of the annuity contract. There are no legal fees and you may receive an income tax deduction for part of the gift if you itemize.”
Donors must be 60 years of age or older to participate, and a spouse may be included as a second annuitant. Your Erie Community Foundation staff can provide an illustration for you based upon your particular situation. To learn more, contact Kevin Moore at 814-454-0843.