Establishing your own named charitable
fund does not require great wealth, and it is easy and
convenient. Donors can make a contribution of any size to
one of the many funds serving the Luverne area, set up a new
fund in support of a charitable interest or consult our
staff to help address the community's most processing
challenges. Gifts of all sizes are welcome, and they can
take on many forms. Here are some options you may wish to
consider:
Type of Gift
Possible Advantages to the
Donor
Cash
Immediate tax savings.
Real estate (remainder
interest)
Immediate tax savings and the ability
to continue living in your home.
Appreciated securities; bequest of an
IRA
Income tax deduction and capital gains
tax savings.
Life insurance
A significant gift with modest
investment! Income tax deduction for current value
and/or cost of premiums.
Charitable remainder trust, or gift
annuity
Current tax benefits while providing
continuing income for you or other
beneficiaries.
Gifts to
the Foundation may be restricted or unrestricted. Unrestricted
gifts allow the Foundation to use those funds in combination
with others' gifts where they are needed most. Restricted
gifts are used for the purpose determined by the donor, within
the rules for tax-exempt gifts. All gifts to the Foundation
are tax-deductible to the extent allowed by law. The Luverne
Area Community Foundation is a charity as defined by
section 501 (c) 3 of the Internal Revenue Service
code.
The Mission of the Luverne Area Community Foundation is to
develop & allocate financial resources to support area needs.
