Giving to local community foundation
offers easy options for year-end giving
By Sunny Ramsay
Gwinnett Community Foundation
Special to GwinnettForum.com

DEC. 11, 2001 - - As the year-end giving season approaches, community foundations throughout the country are providing a variety of opportunities for donors to give to their favorite causes, on their own timetables and in their own unique-and effective-ways. Donor-advised and donor-designated funds allow everyday citizens to become philanthropists without establishing a private foundation. The Gwinnett Community Foundation has been offering these funds since 1985.

The Cody Fund was established with the Gwinnett Community Foundation to fund the training and care of the K-9's used for law enforcement purposes in Gwinnett County. The fund has purchased bulletproof K-9 vests and special equipment needed to protect the canine officers while performing their duties. Lt. Brett West, Gwinnett County Police Department, said, "We are extremely gratified to the civic minded individual who has recognized the value or our work and has contributed to its continuation. God bless her."

Duluth's Community Legacy, the Parsons Ladies, Kathryn Parsons Willis, Anne Parsons Odum and Margaret Parsons Andrews, have each created a donor advised fund at the Gwinnett Community Foundation to benefit charities of their choosing. Each sister has had a life-long practice of civic involvement and philanthropy. Kathryn Parsons Willis says, "Working with the Foundation has been wonderful. Anyone who is the least bit philanthropic should take advantage of this service. I also include the Foundation in my giving by donating towards to the operations budget every year."

This October, a memorial fund was established to honor the memory of Madeline M. Estafen. A teacher, scholar, friend, mother and wife to Joe Estafen, Executive Director of this Foundation, Madeline's family wants to continue her legacy of teaching through scholarships to needy students seeking higher education.

"The foundations offer donors a reliable and professional network for giving locally or nationally," says Dorothy S. Ridings, president and CEO of the Council on Foundations. "The biggest advantage of donating through community foundations is that they grow and live in the communities they serve."

Creating a fund is simple: an individual or a corporation makes an irrevocable contribution to the Foundation. An immediate tax deduction is received if the fund is established before December 31. The donor can take the tax deduction-up to 50 percent of adjusted gross income for cash gifts and 30 percent for appreciated property, such as stock-on the current year's tax return. The money in the fund is then invested and managed by the Foundation. Donations from the fund are disbursed to charitable organizations over a period of months or years, based on the recommendations from the donors. Once your accounts are set up, you can make additional contributions to the fund.

Community foundations are one of the fastest growing sectors of philanthropy today. More than 500 community foundations in the United States build and strengthen communities by making it possible for a wide range of donors to create permanent, named funds to meet a range of local needs. Contact the Gwinnett Community Foundation at 770-813-3380 for more information.

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