Peabody Community Fund seeks donations
You don't have to be a millionaire to donate to Peabody Community Fund (PCF) and make a big difference in the future of your hometown.
The PCF is a local foundation created to assist and maintain local programs and organizations and ensure that money given for the community stays in the community for the long term.
Here are some frequently asked questions about the fund:
Can I earmark my contribution for a certain organization or cause? Donors may designate donations for one or more specific organizations such as Peabody Main Street Association, Peabody Historical Society, or USD #398. Contributions also may be directed to a general unrestricted fund. Additional organization- or individual-specific funds can be established with an initial contribution of $2,000.
How can I contribute? You may make a contribution directly to the fund or arrange for a bequest to the foundation in your will. Investments may be gifts of cash, real estate, or stocks or may be set up through long-term trusts within estate plans. Some people like to make year-end gifts; others prefer to give on an ongoing basis. The PCF can set up a system of reminders that best meets your needs.
Is there a minimum donation? No! No gift is too small.
Is my contribution tax deductible? Yes.
Why should I donate to this fund rather than just making a contribution directly to the organization? When you make a donation to PCF, your money lives on and will provide benefits for years to come. Your money is invested and earnings are used to support the organization or cause you designate.
Why is the fund administered in Newton? When PCF was established, organizers realized they did not have the expertise or time to manage fund investments and accounting and the new fund could not afford to hire a full-time manager. After a great deal of research, the decision was made to affiliate with the Newton Community and Healthcare Foundation which has the expertise and experience to perform the required administrative duties. The fund has a local board of directors made up of your friends and neighbors who have a vested interest in seeing that the funds are used to benefit Peabody.
How do I know this fund will still be around in the future? This is a permanent endowment. Only the earnings will be distributed, so the dollars you contribute will live on forever and continue generating interest.
To find out more, join the PCF board of directors at the first "Souper Supper" fund-raiser at 6:30 p.m. Nov. 11 in the Peabody Elementary School multi-purpose room. Come sample a smorgasbord of soups, breads, and desserts. Your free will donation supports PCF.
