Great Falls Rotary News
The Great Falls Rotary Foundation has voted to request that Great Falls Rotary Club Board approve moving $15,000 from the Foundation account to the Montana Community Foundation as a permanent endowment. Two club members have pledged $5,000 each to create a $25,000 permanent endowment. $15,000 is about 3% of the total investments and cash held by the Great Falls Rotary Foundation today.
Placing the endowment at the Montana Community Foundation will allow donors to take advantage of the Montana Endowment Tax Credit of up to $15,000 per year per taxpayer when they make a planned gift to the Endowment. MCF handles all of the accounting and legal requirements of an endowment. The assets become the property of MCF and the Great Falls Rotary Foundation receive earnings annually, which can be left in the endowment to grow it further or can be disbursed as the Great Rotary Foundation sees fit.
If you have any questions about this request of the Board, please talk to any Club board member or any Foundation Board member.
From the MCF website
An endowment is a fund held in perpetuity for charitable benefit
As the fund grows, investment returns are used to support the designated beneficiary organization, field of interest, etc. An endowment can be funded by a variety of assets such as cash, property, or securities.
Through the power of permanently endowed funds, donors achieve their philanthropic goals and nonprofit organizations receive stable incomes to support their efforts in perpetuity.
-Sheila Rice
