Why give to a community foundation? Community foundations are able to put your gifts, small and large, to work for local needs and programs.
Personalized service, helping individuals, families, businesses, and nonprofit agencies achieve their charitable and financial goals with maximum tax advantages. You shape and design your fund's giving focus, and even help recommend grant awards.
Community leadership, working with local leaders to build endowment, ensuring that grants are always available to support the community. That means your gifts build and strengthen your community; today, tomorrow, and forever.
Gifts to Greater Glendive Community Foundation positively affect your hometown's economic development and quality of life.
…BACK TO THE COMMUNITY
Tax deductible donations give back to the community as donations are invested and your legacy lives on.
Your financial gifts or assets allow the Greater Glendive Community Foundation Board to provide grants to community projects from applications across Dawson County.
A conflict of interest clause prevents board members involved with specific projects from voting or using personal influence in the grant selection. Planned gifts like charitable gift annuities can help provide financial security for you and your family, generous tax savings — plus help your community.
WHAT IS AN ENDOWMENT?
An endowment is a tax-favored charitable fund that is designed to last forever. The principal amount of the fund — your charitable gift — is prudently invested and preserved. As investment earnings accumulate, grants are made to nonprofits in Dawson County. Usually a portion of the investment earnings are retained and added to the principal, causing the balance of the endowment fund to actually grow over time.
GREAT NEWS FOR ANYONE 70 ½ OR OLDER
WITH AN IRA:
Congress has recently enacted the American Taxpayer Relief Act of 2012. The Act includes a one year resurrection (for 2013) of the IRA "charitable rollover." The IRA charitable rollover permits people who have IRAs to have the IRA trustee or custodian directly distribute up to $100,000 to a qualified charitable organization like the Greater Glendive Community Foundation without having to first take the distribution as personal income.
There are two special, very limited opportunities in the Act for making charitable contributions of IRA funds during January 2013.
The first opportunity is for IRA account holders to make a rollover to a qualified charity in the month of January 2013 and treats it as having been made in 2012. This opportunity effectively allows IRA account holders to make two qualified charitable rollovers in 2013, because you can also make another charitable rollover for 2013. (You have until 12/31/13 to take your distribution for 2013.)
The second opportunity is for people who took distributions from their IRAs after November 30, 2012 and before January 1, 2013. These people can treat their distributions as having been made to charity if they give that money to a qualified charity before February 1.
In other words, you could avoid having your IRA distribution counted as income (for up to $100,000) even though the distribution occurred in December 2012. This will help you avoid the income tax penalty as long as you pay that money to a qualified charity before February 1, 2013.
It is imperative that you act soon in order to take advantage of these opportunities. If you want help- contact Nicole with the MT Community Foundation, 406-443-8313 or Nicole@mtcf.org. Your distribution could go the MTCF designated for the Greater Glendive Community Foundation which grants out to nonprofits in Dawson County or you could specify it for the Toepke Fund to help Glendive baseball/softball.