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Lapeer County
Community Foundation
220 West Nepessing Street
Suite 202
Lapeer , Michigan 48446
Office: 810-664-0691
Email: lccf@charterinternet.com
Types of Gifts
Types of Funds
Legacy Society
Michigan Tax Credit
How You Can Give
Giving Opportunities
Ways of Giving:
The Foundation accepts the following forms of gifts. Donors must provide a legal name and complete address so that the Foundation is in compliance with the Internal Revenue Service and State of Michigan gift substantiation requirements. Gifts are receipted and/or completed on the date received in the Foundation office.
Types of Gifts:
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Cash
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Checks
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Credit Cards via PayPal or Telephone
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Public Traded Securities & Mutual Funds
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Closely Held Stock
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IRA Charitable Rollovers
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Real Estate
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Tangible Personal Property
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Life Insurance Policies
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Pledges
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Planned/Deferred Gifts
Types of Funds:
- Unrestricted Named Endowment Funds: Unrestricted funds provide the Foundation with the greatest flexibility in meeting community needs. Fund income is directed to support current and emerging programs to benefit Lapeer County identified by the Board of Trustees in coordination with the Grant Committee.
- Field of Interest Endowment Funds: Fund income provides support to a broad topic or subject area as indicated by the donor. For example, homelessness, hunger, women's issues, arts and culture, environment, health, etc. The Foundation will narrow the broad topics for specific grant making activities.
- Scholarship Endowment Funds: Fund income provides support to a student in his/her academic pursuit. This includes tuition, books, room/board, or professional development. The grants are made to institutions in the name of the students. Donors may define the advisory committee, guidelines for candidate selection and award use.
- Designated/Agency Endowment Funds: This fund is established by a donor or organization for the direct support of the specified organization or program of the organization. Additional gifts to the fund can be made from the organization's operational budget or from individual donors. Grants from the fund income are made on a regular schedule to the agency designated.
- Donor Advised Endowment Funds: Donors consult with the Foundation's Board of Trustees regarding the distribution of fund income.
- Donor Advised Non-permanent Funds: Grants are made periodically as requested by the donor who makes recommendations to the Foundation. Non-permanent status indicates that the fund can be liquidated.
Join our Legacy Society today!
The Legacy Society recognizes individuals who have included the Lapeer County Community Foundation in their estate plans during the donor's lifetime. Members include caring people who believe they have a responsibility to give something back to the Lapeer community and have the foresight to create a charitable gift through provisions in their wills or trusts.
There are many ways to leave a lasting legacy to your community. One of the most common and effective means of ensuring that the charitable organizations and causes you’ve loved during your lifetime will continue to be supported long after you’re gone is to name the Lapeer County Community Foundation in your will. The tax benefits are significant. Gifts to qualified charities such as the Community Foundation are completely exempt from estate taxes.
The purpose of the Legacy Society is to recognize individuals who have included the Community Foundation in their estate plans, during the donor’s lifetime. Members include caring people who believe they have a responsibility to give something back to their community and have the foresight to create a charitable gift through provisions in their wills or trusts. In the past the Community Foundation was often unaware of a person’s intended gift until after the individual is no longer alive. We wish to recognize members of the Legacy Society, noting our appreciation for their generosity and providing an example of leadership to other potential donors in the community.
How does it work?
1. You include the Lapeer County Community Foundation in your will as a bequest, and specify
a) The purpose of the fund you would like to establish or
b) Name the fund to which you would like to contribute.
2. You notify us, and we will immediately recognize you for your gift. You will then qualify for membership in our Legacy Society and, unless you request anonymity, your name will be published
a) In the Legacy Society List in each issue of our annual report and
b) On our website.
3. Upon your death, we will
a) Establish a special fund in your name, in the name of your family, or in honor of any person or organization you choose.
b) Contribute your monies to the existing Community Foundation fund of your choice.
4. Your gift will be placed in the fund designated, carefully invested and will grow over time. Grant distribution from the fund will be determined by the original fund letter of transmittal.
5. Our Board of Trustees or the committee designated by the fund transmittal letter will issue grants in the name of the fund you wish to establish or to contribute.
6. The Lapeer County Community Foundation handles all the administrative details. Making a bequest to the Lapeer County Community Foundation is an easy way to transfer cash, appreciated stocks or bonds, real or personal property, or other assets. We can recommend the:
a) Most tax efficient types of assets to give through your will.
b) Language needed for your attorney.
7. Your will and bequests can be subject to changes that you determine necessary over time.
Michigan Tax Credit
The Michigan Tax Credit for Community Foundations allows taxpayers to reduce your Michigan income tax or Single Business Tax liability by a credit of 50% of the amount contributed to a community foundation endowed fund, subject to a maximum credit of:
- $100 for an individual filing singly (for a $200 donation).
- $200 for a married couple filing jointly (for a $400 donation).
- $5,000 or 5% of tax liability before claiming any credits, whichever is less, for taxpayers filing Michigan Single Business tax returns (for a $10,000 gift).
- This tax credit is in addition to those available for donations to public broadcasting stations, Michigan colleges or universities and public libraries.
- The tax credit is in addition to the deduction for Federal income tax purposes.
How You Can Give
Donations are now being accepted online via
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The following file is in Adobe .PDF format and must be opened with the Acrobat reader. You may download this software here:
To donate to the Lapeer County Community Foundation using a paper form, follow this link
Office: 810-664-0691
Email: lccf@charterinternet.com