Gifts of Cash
The most popular way of contributing to the Foundation is to make a cash gift - check, money order, or credit card. Check or money order donations should be mailed to: Evansville Education Foundation, Inc. 1 S Madison St, Evansville WI 53536. Credit card donations are accepted through PayPal.
Payroll deduction is an easy way to give an amount that fits your budget. Each pay period the amount you specify is withheld from your pay and forwarded to the Foundation. Over time, this can accumulate to become the significant gift you may not be able to make in a lump sum payment.
Employer Matching Gifts
Many corporations provide charitable matching gift programs to their employees. This is an easy way to double or even triple the impact of your annual gift. The Evansville Education Foundation, Inc. is a 501 (c) (3) charitable educational foundation and is eligible for many corporate giving programs. Please contact your company's personnel or payroll office to see if they will match your gift.
If your employer has a charitable matching gift program, but it does not include the Foundation, please contact us. We will work with your employer to have the Foundation included.
Memorials and Honorary Gifts
One of the most thoughtful contributions an individual can make is a gift in honor or in memory of a teacher, advisor, relative, or friend. An honorary or memorial gift is an appropriate way to recognize someone's life and accomplishments. There are opportunities for donors who, through the Foundation, wish to associate the name of a family or individual with a project or program.
The outright contribution of all rights of ownership in a life insurance policy creates for the donor an immediate deduction for income tax purposes.
The naming of a charitable organization as the beneficiary of a life insurance policy will not provide an immediate income tax deduction. However, while the proceeds of the policy must be included in the donor's estate, there will be an offsetting charitable deduction.
Bequest Through a Will
A bequest through a will is the most frequent form of deferred gift. It can be a means of making a substantial gift to the Foundation without diminishing the assets available to the donor during their lifetime. Important estate tax savings can result from this type of giving, as bequests to the Foundation may be deducted from the total estate in determining estate taxes.
The drafting of your will should be arranged through your attorney. The simplest way to provide support for the Foundation through a will is a bequest of a fixed amount or a percentage of dollars.
If you decide to, or have already included the Foundation in your will, let us know so that we may acknowledge your generosity.
Individuals, who wish to give to the Foundation, yet wish to retain life income payments from the assets being donated, can choose to do so through a life income trust. Gifts in the form of living charitable remainder trusts provide the same estate tax benefits as bequests. Many forms of agreements provide substantial lifetime income tax benefits. Two basic types are the Charitable Remainder Annuity Trust and the Charitable Remainder Unitrust.
The individual transfers either cash or property to the Trustee of the Charitable Remainder Trust (for example, a bank trust department). The trustee agrees to pay a specified amount to the individual or their designated beneficiary for life. Income payments may be based on a fixed dollar amount or a specified percentage of the total trust assets. The principal of the trust, when it becomes available to the Foundation following the death of the life-income beneficiary, will be used on behalf of the Foundation in an area of greatest need or as specified by the donor.
Many people acquire a large part of their estate through contributions to their retirement plan, whether it is a 401(k) plan at work, contributions to an Individual Retirement Account (IRA), or through other retirement plans. Like life insurance, all of these ask you to name a beneficiary. This is an opportunity for you to support the Foundation by naming it as a first or second beneficiary.
Giving Through Your Estate Plan
There are many other instruments available to donors for gifting the Foundation. As noted above, many forms of agreements provide substantial lifetime income tax benefits. Due to the complexities of, and continual changes in tax law, your attorney and financial advisor should be consulted as to what is appropriate for your financial situation.