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 Giving
- Credit Cards via PayPal or Telephone
- Charitable Gift Annuities
- IRA Charitable Rollovers
- Life Insurance Policies
- Closely Held Stock
- Planned/Deferred Gifts
- Public Traded Securities & Mutual Funds
- Tangible Personal Property
- Real Estate
Types of Funds
1. Unrestricted Named Endowment Funds: Provides LCCF 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.
2. Field of Interest Endowment Funds: Fund income provides support to a broad topic or subject area as indicated by the donor. For example, homelessness, women’s issues, the arts, or the environment. The Foundation will narrow the broad topics for specific grant making activities.
3. 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.
4. 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.
5. Donor Advised Endowment Funds: Donors consult with the Foundation’s Board of Trustees regarding the distribution of fund income.
6. Donor Advised Non-permanent Funds: Grants are made periodically as requested by the donor who makes recommendations to the Foundation. Non-permanent funds must be spent in two years.