Making a difference with a Planned Gift
Legacy Giving through your will or trust allows you to make a lasting impact in Mendocino County. Through the Community Foundation of Mendocino County we now have the Ukiah Valley Trail Group Endowment Fund.
The Community Foundation can work with you to create a fund agreement
. Your fund agreement provides the details of your planned Legacy Gift. Your will or trust refers to the fund agreement, but does not include the specific details of the agreement. Your planned Legacy Gift:
- can be endowed (paying out in perpetuity) or expendable (paying out over a limited time).
- is not payable until death, so it does not affect your assets or cash flow during your lifetime.
- is revocable—you can change the provisions in your fund agreement at any time.
- is private—your fund agreement is not filed or made public until your death.
In addition to bequests, gifting an insurance policy or retirement plan may help you make a difference while decreasing your estate’s tax burden. Naming the Community Foundation as beneficiary does not require an attorney or professional advisor, and you retain the ability to change the beneficiary designation at any time.
The decisions around Legacy Giving are important and can be detailed and complex. A one-on-one discussion with the professional staff at the Community Foundation of Mendocino County is the fastest and most reliable way to get answers to your questions about Legacy Giving. Call Megan Barber Allende to have all your questions answered. (707) 468 9882 http://www.communityfound.org/for-donors/legacy-giving/
The Endowment Fund
The Ukiah Valley Trail Group is pleased to announce we have set up an “Agency” fund with the Community Foundation of Mendocino County. The newly created Ukiah Valley Trail Group Endowment Fund
was created with an initial deposit of $15,000 for the purpose of establishing an endowment from which interest returns will be used to support the mission of the UVTG. The UVTG Board of Directors have established a policy of contributing 10 percent of annual donations or two thousand dollars per year, which ever is greater, to the fund. Although the funds are available at any time at the boards request, the board has set a goal to build the fund to at least $100,000 before tapping into any of the interest or capital.
“We know of at least three people who are planning on leaving part of the their estate to the trail group, so we feel this is a good and realistic investment in future trail projects,” said board member and Treasurer Tim Pletcher.” The board believes the presence of this fund will encourage others to consider the trail group in their estate planning as well.
“When you think about it, you realize that with $100,000 in the fund we’d likely make about five thousand in interest each year which would be really significant for us. And,” Pletcher continued “if one person made a really significant contribution, it could be a complete game changer for us.”
Donations to the fund can be of any size and can be made directly to the Community Foundation or to the UVTG with a note stating the donation is specified for this fund.