A gift to the Foundation will simplify your charitable giving. One contribution may address a number of different needs and benefit many charitable organizations in the community.
Most Funds can be established in one brief meeting with our Executive Director. Afterward, the donor retains the satisfaction of giving, while the Foundation takes care of the administration of the Fund.
Because The Shelby Foundation is a public foundation under federal tax law, your contribution qualifies for maximum deductibility for income, gift, and estate tax purposes. Subject to specific IRS rules and regulations regarding the deductibility of charitable donations, a charitable contribution to a Fund at the Foundation is ordinarily tax deductible to the donor for income tax purposes in the year such donation is made. Subject to such rules, contributions to the Foundation of appreciated stock and securities can be claimed as income tax deductions at fair market value as of the date of such contribution (as opposed to original cost basis). Stocks and securities held as part of a Fund at the Foundation are not subject to income tax since the Foundation is a tax-exempt charitable entity.
Assets of the Foundation are managed by a local investment professional at a well-respected institution. The investment policy is designed to balance equity protection with growth and income. The Finance Committee of the Board of Trustees regularly monitors all of the Foundation’s investments.
A volunteer Board of Trustees, composed of experienced community leaders, oversees Foundation management and use of funds. Annual reviews through the filing of tax returns, semi-annual reports to Fund representatives, publication of an annual report, and careful selection of Board members ensure continued use of funds for the good of the Shelby community.
A gift to the Foundation may establish, or be added to, an endowment Fund from which only the income is distributed. The principal of each endowment gift is permanently retained and invested to provide a continuing stream of charitable income for the future.
The Foundation operates economically for the benefit of all of its funds. Administrative expenses are covered by a modest charge on the income of each Fund and donations made to help meet expenses. Funds share the cost of the administration and the cost and risk of the investment of Foundation assets.