- Gifts and bequests to Orcas Island Community Foundation, a 501 (C) (3) IRS approved foundation, typically receive the greatest income, gift, and estate tax benefits. Integrating a charitable giving program through OICF with your overall financial plan can further these benefits.
- Maximum tax deductions are available for charitable contributions without substantial or material restrictions on the use of the gifts.
- OICF welcomes donors other than individuals, including private foundations, corporations, governmental agencies, and other grant makers. Because of our public foundation status, certain tax advantages, reporting requirements, and grant making procedures may be made easier for these types of entities.
Because OICF manages many individual gifts, it can service and administer each of them at a fraction of the cost of a private foundation or other, smaller nonprofit organization.
- Directing charitable dollars via OICF is more economical than establishing an individual charitable trust or private foundation.
- The impact of the gift is maximized because it is exempt from state and federal transfer taxes.
- Commingling of assets draws on centralized investment knowledge and experience, thereby obtaining economy of scale, larger return, lower fees, a diversified portfolio, and professional management.
- A ready-made administrative structure providing for grantee assessment, grant making, grant monitoring and evaluation, and tax reporting.
- Marginal management costs ensure that 99% of the charitable dollars remain at work for the community.
- Giving through OICF allows you to put your charitable dollars directly to work in your own community.
- There is satisfaction in contributing to a healthy financial base for Orcas Island.
- Gifts made to OICF will be useful to the community for generations to come.
- A Community Foundation, consisting of philanthropic-minded citizens like yourself, can assess community needs and help donors put dollars where they really count.
- OICF can accept nearly any kind of gift: cash, appreciated stock, life insurance, etc.
- The foundation has the flexibility of a private foundation without the accompanying complexity and high cost of administration.
- Peace of mind that gifts will be directed to the most pressing and reasonable needs as time goes on if the donor’s original purpose has become obsolete.
- A donor may designate specific organizational recipients or establish named funds.
- Endowing a fund at OICF is a fitting way to memorialize or honor a loved one and create a permanent legacy that will be remembered for generations. Conversely, a donor may remain anonymous if desired.
- A donor may select a specific fund type from a broad menu which satisfies his or her particular philanthropic objectives, including the establishment of a fund in an individual or family name.