Recent News

2018 Scholarship Recipients

Martinsville Area Community Foundation held its Annual Scholarship Dinner at New College Institute on Tuesday, May 15, 2018. Over $240,000 in scholarships were awarded to many deserving young men and women from our area.

Click here for the list of scholarship recipients.

Special Interest Grant Cycle

Now accepting applications for the Special Interest Grants 
 DEADLINE FRIDAY, August 10, 2018 BY 4:00 PM

Types of Gifts

The Foundation has lots of flexibility in serving the needs of donors. We enable you to create an endowment fund using a wide variety of gift techniques, such as those shown. We always encourage you to discuss these ideas with your attorney, accountant or other professional advisor, as this information is not intended as legal advice.

Cash - You may establish a fund through an outright gift of cash. This is a simple and convenient way to give and receive tax advantages.

Appreciated Securities - Gifts of appreciated securities are particularly attractive to donors. When you transfer ownership of the securities to the Foundation, you avoid capital gain on the appreciation. The Foundation is a public charity, meaning that it qualifies for the best available treatment under current tax laws and offers full market value deductions.

Property - Some donors may also choose to contribute real or tangible property as the initial assets of the fund.

You may start a fund through a bequest in your will. Some donors designate a specific dollar amount or a percentage of their estate. Others simply leave the residue of their estate to the Foundation to create their named fund. Bequests are usually fully-deductible for federal and state tax purposes.

If you have a paid-up life insurance policy that you no longer need for your family's protection, you could consider giving it to the Foundation to establish a fund. Such a gift would qualify for an income tax deduction. If the policy is not fully paid-up, you may continue to pay the premiums and receive tax deductions for the amount of the premiums.

A CRT enables you to provide a lifetime income to yourself, your spouse, or other beneficiary and provide the trust principal to the Foundation at your death. This principal is then used by the Foundation to create a permanent fund named for you or a loved one to forever carry out your charitable wishes.

A CLT enables you to provide current support to the Foundation through annual payments from the trust's income for a period of years. These payments could flow into a permanent endowed fund named for you. Upon the termination of the trust, the principal would go to beneficiaries such as your grandchildren or others.

The Foundation does offer charitable gift annuities. The minimum is $10,000. Please contact us for more information on these life-income vehicles.

For some trustees of private foundations, the demands of administering and making grants from their foundation become burdensome. The assets of the private foundation can be transferred to the public community foundation, and a fund carrying the same name as the private foundation would be set up. The trustee could continue to be involved with the fund as an advisor but without any of the administrative headaches. The fund would also be relieved of excise taxes and most other regulations.