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News :: Vinton Community Foundation accepting grant applications
· 12:10pm March 27th, 2014
The Vinton Community Foundation board members are pleased to announce they are now accepting grant applications from non-profit Vinton area groups, for the 2014-grant program. The following grant applications may be applied for: the Vinton Community Foundation, the L.J. Kirkland Trust, and the City of Vinton Local Option Sales Tax (LOST) Fund. Board members include David Wessling, chairman, represents Vinton Unlimited; Mary Jo Hainstock, vice-chairman, represents the Vinton-Shellsburg Community School; Dottie Anderson, represents Farmers Savings Bank & Trust; Phil Borleske, represents the Vinton Area Ministerial Association; and Lisa Vermedahl, represents the Vinton City Council.
Application forms may be picked up at the Farmers Savings Bank & Trust or from Foundation board members.
Recipients of last year’s grants from the Foundation are reminded that before any further grant applications will be considered, documentation must be provided to the Foundation Board, on how past grants were used.
Grant applications must be turned in at the Farmers Savings Bank & Trust by 4:00 p.m. on Friday, April 25, 2014. Applicants must provide eight copies of the application.
The Vinton Community Foundation has been actively contributing to the Vinton community since 1997. Since that time, the Foundation has provided more than $314,000.00 to non-profit organizations, community projects and scholarships.
How to donate to the Foundation
The Vinton Community Foundation is constantly in search of contributions, as these contributions provide most of funds available to worthy grant projects. One hundred percent of your tax-deductible contribution is used for the betterment of the Vinton community.
There are many ways to donate a tax exempt gift including:
Cash or check payable to the Vinton Community Foundation in care of Farmers Savings Bank & Trust, PO Box 112, Vinton, IA 52349.
Appreciated securities, which carry two benefits cash gifts do not. You eliminate capital gains tax when you contribute the securities and you are allowed an income tax deduction based on the securities’ fair market value on the date of the gift. Securities may be delivered to Farmers Savings Bank & Trust.
Real estate, which holds tax advantages if it is a long term appreciated holding. The board recommends consulting with an attorney when considering a real estate gift.
If you wish to extend your gift over time, you might want to consider multi-year pledges.
Among the benefits:
Extended over a period of several years, a pledge helps you to make a larger foundation gift than you might have thought possible. You may make your pledge payments with cash, check or appreciated securities.
Deferred gifts for making a future donation might include:
* Life insurance policy can be purchased and the foundation is named the beneficiary. The annual life insurance premiums are tax-deductible.
* Specific or contingent bequests in your will.
* Charitable remainder trusts, which let you enjoy income from the gift during your lifetime.
The gift can be made publicly or anonymously and the contributor may designate how the gift can be spent.
Your tax-deductible contribution to the Vinton Community Foundation can be made by contacting Farmers Savings Bank & Trust.
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