Donating to MICF

Donating to MICF




What You Get By Donating.

You get the satisfaction of serving your community with a continuing endowment to the future.

Common Types of Donations

  • Money
  • Real Estate
  • Living Trust Proceeds
  • Securities
  • Life Insurance
  • Will
  • Annuities

Memorial Gifts

Part of the Endowment funds are memorial endowments established by the families and friends of the deceased citizens of the community. Memorial endowments have been established in memory of:

Wilma Hein, Stephen Pfaff, Corrine M. Boyd, Mathew R. Thompson, Helen K. Thompson, Lucas Albert Mendazona and Mildred Kane.

HOW DO I MAKE MY DONATION?

Retirement Planning

The Foundation is now associated with the Oregon Community Foundation. It is now able to offer professional management of such forms of Deferred Gifts as Unitrusts, Deferred Annuities, Pooled Income Funds, and gifts of Life Insurance and Retirement Accounts. The Foundation and the Oregon Community Foundation experts can work with you and your attorneys or tax advisors in designing a Planned Giving program that can have favorable income tax and estate tax results.

Gifts may be restricted or unrestricted
Restricted gifts may be only used for a specific purpose, field of interest, organization or agency in the community
Unrestricted gifts allow greater flexibility to meet community needs.

Gifts may be designated for present-use or for the Endowment Fund. Gifts to the Endowment Fund mean that the principal is never spent, only the interest and earnings on that gift from investments. Gifts not designated for the Endowment Fund may be used for the designated charitable purpose during the current year. 

Are Gifts Tax Deductible?

Yes. The Internal Revenue Service has declared the Monmouth-Independence Community Foundation exempt from income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. This means that you may be able to deduct the amount of your gift to the Monmouth - Independence Community Foundation for both state and federal income tax purposes. Your tax preparer can tell you if you qualify. Your cancelled check will act as your receipt and for contributions of $100 or more a receipt will be mailed to you at the end of the year.

Oregon Income Tax Credits

The Foundation is now affiliated with the Oregon Cultural Trust. If you make matching gifts to both the Monmouth-Independence Community Foundation and the Oregon Cultural Trust, your gifts to the Oregon Cultural Trust may be treated as a complete Tax Credit against your Oregon Income tax and your contribution the Monmouth-Independence community foundation a deduction against taxable income. Your tax advisor can tell you how this works. Here is an excerpt from the Oregon Cultural Trust web site [see below] that shows the tax savings to you for matching gifts to both the Monmouth - Independence Community Foundation and the Oregon Cultural Trust

Oregon Cultural Trust ( Example of Tax Benefits)

Assumed Federal Tax Rate
25%
28%
33%
35%
Assumed Federal Tax Rate
Contribution to an Oregon non-profit cultural Organization
25%
$1000
28%
$1000
33%
$1000
35%
$1000
Assumed Federal Tax Rate
Contribution to the Oregon Cultural Trust by a couple filing jointly
25%
$1000
28%
$1000
33%
$1000
35%
$1000
Assumed Federal Tax Rate
Total Cash Outlay
25%
$2000
28%
$2000
33%
$2000
35%
$2000
Assumed Federal Tax Rate
Federal Tax Savings
25%
$500
28%
$560
33%
$660
35%
$700
Assumed Federal Tax Rate
State tax savings on gift to cultural organization
25%
$90
28%
$90
33%
$90
35%
$90
Assumed Federal Tax Rate
State savings from Cultural Tax Credit
25%
$1000
28%
$1000
33%
$1000
35%
$1000
Assumed Federal Tax Rate
Total Tax Savings
25%
$1590
28%
$1650
33%
$1750
35%
$1790
Assumed Federal Tax Rate
Net Cash Outlay
25%
$410
28%
$350
33%
$250
35%
$210
Assumed Federal Tax Rate
Benefit to Cultural Charities
25%
$2000
28%
$2000
33%
$2000
35%
$2000

For more information about the Oregon Cultural Trust (click here).

How to make a donation: Donations by check, Mail to MICF PO Box 84, Monmouth Oregon 97361. Please include your name, address, tax id number, telephone number and we will mail you a reciept for tax purposes.

Online Donations...coming soon..

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