The Community Foundation of Crawford County (CFCC) is a non-profit organization that accepts gifts of money and other assets from individuals and organizations to hold in trust in the form of endowments forever.

The principal gift from an endowment is never utilized; only portions from annual investment earnings are distributed in the form of grants. These grants are typically scholarships and grants to non-profit charitable organizations. Money donated to the CFCC is considered an investment in the community.

Founded in 1998, with a generous grant from the Lilly Endowment, Inc., the CFCC has provided almost $2 Million in grant funding to Crawford County organizations and more than 100 partial and full scholarships to individuals. (Additionally, a $4 million grant from Lilly Endowment has provided numerous educational attainment programs here in Crawford County.)

An endowment fund is normally understood as a perpetual fund from which only a portion of the earnings (profits/income) are distributed. Donors may name their endowment in memory or in honor of a loved one or a favorite organization.

For example, a $10,000 gift to a CFCC endowment fund is permanently invested in an endowed fund. Only a portion of the interest/income is used for the purpose designated by the donor, (currently the CFCC’s investment policy designates up to 4% of the earning annually, after 12 months of investing).

Outright gifts may be given to the CFCC via cash, securities, assignment of life insurance policies or real estate. Bequests may also designate the CFCC with:

• Specific bequests of a percentage of one’s estate, a dollar amount, or a specific piece of property;
  Contingent bequests, which designate the CFCC Endowment Fund as the beneficiary if other beneficiaries do not survive;
• Residual bequests, which designate the CFCC Endowment Fund to receive the remainder of one’s estate after all specific bequests, have been made.

ENDOWMENT FUND TYPES with Definitions

Discretionary Fund (Unrestricted):
A Discretionary Fund (endowment or pass-through) typically is established to provide support for general, unspecified charitable purposes at the discretion of the Community Foundation, with no advice or recommendation from the Donor (or any persons designated by the Donor.)

Designated Fund:

A Designated Fund (endowment or pass-through) typically is established to provide support for a specified public charity (e.g., the local art museum, symphony, or hospital), with no future or advice or recommendations from the Donor (or any person designated by the Donor).

Field of Interest Fund:

A Field of Interest Fund (endowment or pass-through) typically is establish to provide support for a specified charitable purpose (e.g., cancer research, the arts, public schools, impoverished children), with no future advice or recommendations from the Donor (or any persons designated by the Donor).

Advised Fund:

An Advised Fund (endowment or pass-through) typically is established at the request of a Donor to the Community foundation to provide support for charitable and similar exempt expenditures or recipients recommended by the Donor or persons designated by the Donor to advise the Community Foundation. The recommendations must be advisory only, and the Community Foundation must be free to reject any or all recommendations.

Discretionary Scholarship Fund:

A Discretionary Scholarship Fund (endowment or pass-through) typically is established to provide educational scholarships to individuals, with no advice or recommendations from the Donor (or persons designed by the Donor). If the Donor wishes to be involved in the selection of scholarship recipients (or wishes one or more persons to be involved in the selection of scholarship recipients), the Advised Scholarship Fund should be used.

Committee Advised Scholarship Fund:

A Committee Advised Scholarship Fund (endowment or pass-through) typically is established to provide education scholarships to individuals, where the Donor or persons designated by the Donor are to be involved in the selection of scholarship recipients. Under new Code provisions added by the Pension Act, the Donor (or his or her designee) may only participate in such selection as a member of a larger advisory committee, and the following additional requirements must be met:

1. Each and every member of the committee must be appointed by the Community Foundation (rather than by the Donor);

2. The Donor and his/her designees may not control or constitute a majority of the committee, and

3. All scholarship grants must be awarded pursuant to objective and nondiscriminatory procedures, approved in the advance by the Community Foundation’s Board of Directors, that are designated to satisfy Code section 4945(g)(1), (2), or (3).

Advised Charitable Organization (Agency) Fund:

An Advised Charitable Organization Fund (endowment or pass-through) typically is established at the request of a charitable organization (the “Agency”), utilizing assets of the Agency, to provide support for Agency’s exempt purposes, as recommended by the Agency. The Agency’s recommendations must be advisory only, and theCommunity Foundation must be free to reject any recommendations.

Community Project Fund:

An individual or a group that do not have 501(c)(3) status who would like to raise money for a charitable community program or project. The charitable work can be a one-time project or a start-up program. Expenditure responsibility is required.

Choices – we all like them. The Community Foundation of Crawford County offers a variety of giving options and methods that you can use to establish your own named fund, or add to an existing fund that serves your area of passion. You can give now, over a long period of time, or include the Community Foundation of Crawford County in your Estate Plan.

The basic appeal of the community foundation to donors is flexibility. There are a variety of tax effective ways to give gifts and donors can choose how their charitable gifts will be used. The foundation can be a shield of anonymity or the spotlight that shines on a special cause. Each method of giving benefits from the most favorable tax treatment the law allows for contributions.

Cash is the easiest way to contribute and may qualify for maximum allowable income tax deductions.

Marketable or Closely-Held Securities if securities are highly appreciated, they may be given so the donor can deduct the full fair market value as a charitable contribution and thus avoid capital gains tax on the appreciation.

Real Estate may also be given at appraised value so the donor can receive a full charitable deduction and avoid capital gains taxes.

Life Insurance can be used to create a major gift at relatively low cost to the donor. If the Community Foundation of Crawford County is named owner or beneficiary of a new or existing policy, the donor receives a tax deduction. Additional premiums paid through the foundation are tax deductible, and proceeds pass to charity, free of estate tax.

Qualifying Trust allows donors to specify the local cooperating bank or trust company that will be used to invest their gift.

Bequests include the Community Foundation of Crawford County of your choice in your will through a bequest of cash, securities or real property can significantly reduce the taxes otherwise payable by your estate. Your heirs benefit and the fund continues your good work in your name permanently, a living symbol of your care and concern for others.

Transfer of an Existing Private Foundation Administering a private foundation under IRS rules can be burdensome and expensive. Many community foundations provide professional and cost effective ways of administering these funds well into the future.

Retain Income from a Charitable Gift - There are many ways to make a charitable gift and still receive income for life or a specified time. Through these methods, donors may be able to increase annual income for themselves and/or their spouse, while reducing taxes on current income, estates and gifts. Two examples are:

• Gift Annuities - Many community foundations offer competitive rates to residents of a particular state who give current gifts but retain a lifetime income. A portion of these gifts may be tax-deductible and income is guaranteed.
• Charitable Remainder Trusts Deferred gifts may be created so that you or someone you love can receive a lifetime income. At the death of the first beneficiary, the remainder of the trust passes to the Community Foundation of Crawford County to create a fund for whatever charitable purposes the donor has specified. These trusts provide current income tax deductions and/or estate tax deductions.

Charitable Lead Trusts pass assets to children or grandchildren. Charitable Lead Trusts, which provide income to a fund in the Community Foundation of Crawford County for whatever charitable purposes the donor has specified. After a set number of years, the remaining principal of the trust, any accumulated appreciation, can then be distributed to children, grandchildren or other named beneficiary, often with very significant estate tax savings.

Retirement Plans - A donor can use retirement plan assets [401(k), Keogh, 403(b)] to create a fund in the Community Foundation of Crawford County for purposes the donor has specified. Also, retirement assets combined with charitable remainder trusts and life insurance trusts can be a valuable way of maximizing benefits from retirement plans.

Benefits of Giving

We all support favorite causes – whether it is with our time as a volunteer, our talents with specific projects, or our financial resources. In addition to simply making our communities nicer places to live and providing for those who do not have what they need, we hope to set an example for our children and grandchildren, teaching them the value of philanthropy and leaving a legacy of community support.

The Community Foundation of Crawford County makes it easy to accomplish those goals. If you are looking for a creative and simple way to give to your favorite organizations during your lifetime and forever, creating a fund with the Community Foundation is a great way to do that. We provide the expertise and flexibility to help you donate money, securities, personal property, or other assets and create a customized charitable fund that will make your giving easier now, and can also last long beyond your lifetime with maximum tax benefits.

Why CFCC?

• We make it easy.
• Maximum tax benefits.
• Enduring support.
• Offer flexible and creative solutions.
• Support multiple causes.
• CFCC accepts a range of gifts and offers multiple ways to give.
• Professional, knowledgeable staff.
• We do the work. You enjoy the giving.

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Making Generosity Last Forever Through Scholarship Endowments

In addition to what is required on the Universal Scholarship Application form, some fund have additional requirements. This form is used to assist applicants. These scholarships are graduating high school seniors in Crawford County, Indiana.

• Carly Marie Birkla Memorial Scholarship

• Leavenworth Elementary School Graduates

• CFCC Paul Ogle Scholarship

• Top 20% of Graduating Class
• Pursuing 4-year college degree

• CFCC Marengo High School Alumni Scholarship

• Marengo Elementary Graduate

• Crawford County Chamber of Commerce Scholarship

• Preference to son/daughter/grandchildren of active, paid, up-to-date members of the Crawford County Chamber of Commerce
• Submit a 1 page essay regarding the value of the CC Chamber and economic development in Crawford County

• Crawford/Harrison Bar Association Scholarship

• Donald and Aledia Sloan Memorial Scholarship

• Top 15% of the Graduating Class
• Will be attending Purdue University Fall 2016
• Currently involved in church activities

• Dr. Milton W. & Mrs. Ruth I. Roggenkamp Scholarship

• Milltown Elementary Graduate; Minimum GPA 3.0; Demonstrated Financial Need; Math or Science Major with a preference to Engineering, Medicine or Dentistry
• Preference to progeny of those killed in action, wounded, or served: provide names of family member(s) who serve in the military, their designation, years served and relation to Applicant.
• Preference to Boy Scouts, Girl Scouts & ROTC

• Elsia Patricia Cox Memorial Scholarship

• Preference to Applicant accepted in, and pursuing, a medical or medical-related degree and/or coursework.

• English High School Alumni Association Scholarship

• English Elementary School Graduate
• Prepare a 1-page typed essay regarding life in English, Indiana.
• Preference to one currently residing in English, Indiana area.

• Eddie Hammond & Robert Hammond, Everett Mason VFW Post6160 Memorial Scholarship

• Preference to Applicant volunteering with VFW/veterans organizations and descendants of those killed in action, wounded, and/or served/serving in military
• Include separate attachment with names of family members(s)’ military service, their designation, years serve; and relation to Applicant.

• Howard and Julia King Endowment Scholarship

• Janet Marie Carr Memorial Scholarship

• Patoka Elementary Graduate
• Include separate typed essay of no less than 500 words introducing yourself, and include no less than one paragraph describing how you have utilized your local library to advance your education and increase your literacy
• Include three letters of recommendation: two from teachers and one from a library staff member

• Kaiser Family Scholarship Fund

• Preference to one residing in Eckerty, Indiana; accepted to, and enrolled in, Purdue University

• Larry K. Eastridge Memorial Scholarship

• Preference to Patoka Elementary Graduate majoring in education or healthcare
• Preference to applicants active in church related activities: essay should include description of church related activities.

• Leavenworth High School Alumni Scholarship

• Leavenworth Elementary Graduate

• McIntosh Family Teaching Scholarship

• Education Majors
• Essay should include details of interests in teaching

• Milltown High School Alumni Scholarship

• Milltown Elementary Graduate

• Noman A. Roggenkamp Memorial Scholarship

• Milltown Elementary Graduate majoring in a math or science field
• Major with a preference to Engineering, Medicine or Dentistry
• Preference to progeny of those killed in action, wounded, or served: provide names of family member(s) who serve in the military, their designation, years served and relation to Applicant.
• Preference to Boy Scouts, Girl Scouts & ROTC

• Nova and Lulu Gobble Memorial Scholarship

• Residents of Sterling Township

• Patoka Elementary Alumni Scholarship

• Patoka Elementary Graduate

• Shawn Allen Howe Memorial Scholarship

• Preference to applicants working part-time
• Preference to applicants graduating with GPA of 3.0 to 2.5
• Applicant will attend 2-year university in the Fall Semester following graduation

• Sheri Adams Zilke IU Memorial Scholarship

• Preference to Technology/Computer Science majors
• Applicant will attend IU in the Fall Semester following graduation

• Zachary Robert Allen Baseball Memorial Scholarship

• Preference to Honor Students
• Preference to baseball or softball participants
• Preference to avid outdoors activity participants
• Essay must include separate paragraph identifying/describing baseball or softball and outdoor activities