Peabody Community Fund assists programs
Do you have a few extra dollars buring a hole in your pocket? Are you interested in contributing some of those dollars to your hometown, but are not sure how to do it? You might consider the Peabody Community Fund as a possible home for your charitable gifts.
The Peabody Community Fund is the local foundation established for the purpose of assisting and maintaining local programs in the community. It was established to increase the impact of people's investments by pooling resources.
There are several options on where the funds are directed. Donors can designate funds to one or more specific organization such as the Peabody Main Street Association, historical society, USD #398, churches, or any other community group.
They also can be designated as scholarships, to various charitable endeavors such as the arts, preservation, and education, or they can be used to respond to emerging problems or needs in the community.
Investments may be gifts of cash, real estate, or stocks, or may be set up through long-term trusts within estate plans. As a public charity, the foundation can provide substantial tax advantages and donors can avoid the high costs of setting up a private foundation by utilizing the Peabody Community Fund as the conduit for charitable giving.
Establishing a fund is simple. You may make contributions or arrange for a bequest to the foundation in your will. These gifts can be in memory of deceased people or in honor of the living.
You also may establish within the foundation a fund bearing your name or the name of someone you wish to honor. This fund can be comprised of money, securities, personal property, or real estate.
In addition, you may deem the foundation as beneficiary of a life insurance policy or transfer assets to the foundation from a private foundation and retain identity of name and purpose.
No gift is too small. The minimum to begin a named fund is $2,000. However, gifts of $25, $10, or even $1 can be made to an existing named fund, or to one or more of the foundation's general funds as memorials, scholarships, etc. Any and all funds ultimately benefit the community.
The mission of the Peabody Community Fund is to enhance quality of life, both today and in the future, by enabling donors to fulfill their charitable desires, building a permanent endowment, facilitating prudent management and care of funds, and meeting community needs through grants, awards, and scholarships.
The Peabody Community Fund is an affiliate of the Newton Community and Healthcare Foundation.
For more information, write to PO Box 131, Peabody, or contact Chuck Good, treasurer of the board, at 620-983-2181, or Tom Alstrom at 620-983-2758.
