Building Your Legacy
The Legacy Endowment Community Foundation makes it easy for individuals and charities to accomplish their goals and leave their positive mark on the community today and into the future.
Types of Funds:
Endowment Fund – Endowment funds allow individuals and families to ensure lasting impact by preserving the principle into perpetuity and making grants from the income generated by the fund. The Legacy Foundation has paid out more than $7 million in grants while maintaining and growing the principle. At Legacy, the funds are professionally managed and any investment growth is tax-free.
- Donor Advised Funds for Individuals: Donor advised funds help you to be actively involved in the granting process. Donors secure the maximum tax benefits and are not responsible for the tax filings while Legacy manages and administers the funds.
- Legacy Estate Funds: Legacy funds allow you to give part of your estate to continue your vision of providing equity, opportunity and prosperity to future generations and the causes you care about. The Legacy Endowment team manage the funds and grant processes to ensure your wishes continue into perpetuity.
- Scholarship Funds – You can play a part in developing our future leaders by establishing an academic scholarship in the name of a family member, coach, mentor or other significant person. You set the selection criteria and appoint an advisory committee to oversee the application process.
- Community Impact Funds – Together with many donors, The Legacy Endowment Community Foundation currently supports local charities and causes. You can help us continue to make a significant impact in our communities by contributing to our Leaders of Tomorrow Fund or Community Services Fund.
Charitable Remainder Trust (CRT) – An arrangement in which property or money is donated to a charity, but the donor (called the grantor) continues to use the property and/or receive income from it while living. The beneficiaries receive the income and the charity receives the principal after a specified period of time. The grantor avoids any capital gains tax on the donated assets, and also gets an income tax deduction for the fair market value of the remainder interest that the trust earned. In addition, the asset is removed from the estate, reducing subsequent estate taxes.