United Way Creates Endowment Fund
Posted on November 27, 2007
The United Way of St. Clair County recently created a permanent endowment fund at the Community Foundation. “Our goal is to ensure an independent, perpetual base of financial stability for the United Way of St. Clair County,” said Rick Garcia, the executive director of the United Way. “This permanent fund is distinct from the United Way’s annual fund raising efforts since it is held as a permanent asset,” he added.
By creating an endowment fund at the Community Foundation, the United Way joins more than a dozen other nonprofit organizations with endowment funds, including East China Schools, the Peoples’ Clinic, Boy Scouts, Port Huron Museum, Studio 1219, American Red Cross, St. Clair County Library and the Foundation’s Youth Home (Wings).
Endowment Funds for nonprofit organizations provide donors with additional options for supporting their favorite causes through gifts of life insurance, appreciated stock, trusts and annuities, or other “legacy” type gifts through estate plans. Gifts to endowed funds at the Foundation are also eligible for the special 50% Michigan Community Foundation Tax Credit (more info). To learn more about the United Way visit their website at www.uwsccmi.org.
