Click here to read the press release from IDOE
Gifts can be made to the Madison County Community Foundation in honor of a special occasion such as a wedding, anniversary, birthday or memorial. You may also give to a particular fund or area of interest or to our unrestricted endowments that provide support to the ever-changing needs in our community.
A named permanent fund can be created with a gift of $5,000 and an endowed scholarship can be created with a gift of $10,000. Assets that can be gifted include cash, securities, closely held stock, mutual funds, real estate and insurance policies.
The Madison County Community Foundation also receives a portion of its principal from bequests by people who wish to continue their support of the county beyond their lifetimes. The Foundation can be an effective part of a donor's estate planning. Different options available are:
Charitable Gift Annuities - During your lifetime you receive income from your gift and after your death the remaining portion of your gift becomes a permanent fund within the Foundation supporting the charitable purposes you care about in the name you have chosen.
Life Insurance Policies - Some donors decide to make a gift by assigning a life insurance policy to the Community Foundation. You secure or transfer a policy and name the Community Foundation as owner and beneficiary. Your premiums are tax deductible and upon your death a permanent fund is established with the name you have chosen. This named fund then supports the charitable purposes you have identified.
Charitable Remainder Trust - By transferring property of some sort to a Charitable Remainder Trust, the trust provides you or another beneficiary a fixed or variable income for life or a fixed amount of time. When the trust expires, the remainder is used to establish a permanent fund in the name you have chosen and for the charitable purpose you have identified.
Retirement Plan Assets - By naming the Madison County Community Foundation as the beneficiary of all or part of the balance of a pension or retirement fund, you remove that asset from your estate. Through the Community Foundation you may distribute your retirement plan after death in a way that is tax-wise for your family and that creates a fund in the Foundation that benefits the community.
Founded by friends, family and loved ones to preserve the memory of Stephen Hamer, the Stephen Hamer Memorial Fund was established to recognize those graduating seniors in Madison County who have demonstrated a commitment to serve their community and embody the generosity, kindness, and selfless devotion that defined my brother’s life. -Scott Hamer