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When will my gift be matched?
SCVCF will match contributions on an ongoing basis through the three-year initiative. With your permission, SCVCF will inform you in writing once we match your gift. To receive an acknowledgement, you must provide your name and address to the Foundation or to the organization on whose behalf you are making the contribution. Your signature on the organization's pledge form will ensure you receive this acknowledgement with the Foundation's expression of thanks.
Can I use my gift to honor a specific individual or family member?
Your contribution to a participating organization may be named in honor of a special person with a gift of $10,000 or more.
How will SCVCF recognize my gift and acknowledge it for tax purposes?
Gifts of $250 or more made payable to SCVCF on your chosen organization’s behalf will be acknowledged in writing for tax purposes. It will also be recognized in SCVCF’s annual report. SCVCF will send a copy of your tax acknowledgement letter to your organization for its records unless the gift is made anonymously. If you choose to make your contribution directly to the organization, they will send you a tax acknowledgement letter before placing your gift in their fund at the Foundation.
SCVCF will also recognize donors who have created a fund named in honor of a special person in its newsletters and annual report.
How much will my gift earn over time?
The Foundation will match your gift dollar for dollar. For example, you give $1,000 to an organization, SCVCF matches with $1,000, and a total of $2,000 goes to your chosen organization’s permanent fund. If that $2,000 earns 10 percent each year, and the organization received a 5 percent distribution annually, after twenty years the organization will have $4,823 in its fund while having use of $3,451 for operations. Your $1,000 initial contribution will have earned $8,274, more than a 700 percent return! That is the power of investing for the future.
Will my gift to any nonprofit fund at SCVCF be matched if the nonprofit is not listed as a partner organization?
While you can make a gift to any nonprofit fund at SCVCF at any time, the Foundation will only match gifts to those funds that were selected to participate in the Partners for the Future Initiative.
How are permanent funds managed by SCVCF?
All permanent funds benefit from being part of a larger asset portfolio and are managed by the Trust Department of First State Bank and Trust in Bayport, MN. The Foundation sets policies for these investments to protect the assets, produce a reasonable return and grow the principal.
Each year, SCVCF’s board of directors determines the amount available for distribution from all its funds. This “spending policy” is currently set at 5 percent of the average value of the fund for the prior twelve calendar quarters (a 12 quarter trailing average) and applies to funds held by nonprofits, families, businesses and other entities. A nonprofit may elect to receive the full distribution for its operations or allow this income to continue growing in its fund. At the time of this annual distribution, any other investment earnings, less the amount used for the foundation’s investment and management fees (1.5 percent), is returned to the permanent fund. This assures that the fund will continue to grow and make larger distributions over time to support the organization’s charitable purposes.
Andersen Stock Put to Good Works
SCVCF works closely with Andersen Corporation to help their retirees and employees use shares of appreciated Andersen stock for their personal charitable giving. It is easy to do. Participants can avoid all capital gains taxes and receive a charitable deduction for the full market value of the stock on the day of the gift. Many have found they can give more than they thought possible by participating in this program. Over the first seven years of this program, current and former Andersen employees awarded nearly $2 million to their favorite charities. Please contact the Foundation if you have more questions about this program. More information is also available at the Foundation’s website at http://www.scvcf.org/advisor_andersen.htm.
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