Establish a New Fund
When you create a fund, you have the ability to name the fund and suggest disbursements to charitable organizations or to worthwhile projects in the community. Legally, our board of directors makes the final decision whether to approve any donor recommended grants.
As part of its donor services, The Shelby Foundation can help donors sort through the charitable organizations or local projects requesting funds and identify which projects meet the donor’s interests. As an added safeguard, the Foundation oversees grants from donor-advised funds to ensure that all recommended recipients are legitimate charities.
With a gift of $10,000 or more, you can establish a new fund with its own charitable purposes. The $10,000 can be reached over a five year period but the fund will not start making grants until it reaches $10,000.
Make A Bequest In Your Will
You can designate the Foundation as a beneficiary of your estate, to receive a certain dollar amount or as a residuary or contingent beneficiary. Such bequests are free of estate and inheritance taxes. Your attorney may want to consult us regarding the proper wording of your will in order to carry out your charitable purposes.
Designate the Foundation as a Beneficiary of Your IRA
Naming the Foundation as the beneficiary of your IRA or other qualified plan can save both estate and income taxes, while benefiting the charity of your choice.