The Maury County Arts Guild Endowment Fund
The Maury County Arts Guild Endowment Fund was established by the Board of Directors in 2003. This fund is
professionally managed locally by those that believe in our Arts Center and want to ensure the future of the Maury County
Arts Guild. This fund allows an individual to donate money to a fund that will be used by the Maury County Arts Guild for
years to come.
To learn more on how to give generously to the Maury County Arts Guild, contact the Maury County Arts Guild
office at 381-9494.
Corporate Charitable Fund Program
The Maury County Arts Guild strives to promote and facilitate charitable giving in the 40 counties of Middle
Tennessee. We began the Maury County Arts Guild Endowment Fund Program to do just that: make sure that money gets to the non-profits
— and the people they serve — at the least cost possible, through the creation of the Maury County Arts Guild
Endowment Fund.
As a Corporate Leader, here is how you can benefit
from
The Maury County Arts Guild Endowment Fund:
Charitable Giving becomes comfortable, convenient, and cost-effective
once again.
In an era of ever-lengthening lines of charitable solicitors, corporate charity has become
an expensive proposition. It takes time to hear requests, it takes time to review these requests and evaluate the organizations,
and after the decisions are made, it takes time to write the checks and do the bookkeeping.
With an Advised Fund for
the Maury County Arts Guild, your fund advisor or corporate treasurer writes only one check — or makes only one gift
of stock — to The Maury County Arts Guild, not many to multiple charities. One gift takes care of the corporate tax
deduction and establishes or increases the Endowment Fund from which grants may be made for years to come.
In our community, corporations are called upon to give every year —
not just in the profitable ones.
Wouldn’t it be nice to set aside charitable funds in the "good"
years and be able to use them to continue giving in years which may be less profitable? With an Advised Fund for your firm
or company, you can set aside money when it makes sense for tax planning purposes and spread out the grants over time. The
Maury County Arts Guild and its fund advisor would own and invest the funds in a diversified portfolio from which grants may
be made based on your written recommendations.
Using the Maury County Arts Guild can increase profits. You can "Do
Well By Doing Good."
Using The Maury County Arts Guild’s Endowment Fund program can cut costs and
increase the scope and effectiveness of your giving. Instead of highly-compensated, busy corporate officers fielding and evaluating
requests, you can "outsource" the administrative aspects to The Maury County Arts Guild. "We do all our giving through The
Maury County Arts Guild" is becoming an increasingly common response. The message signals that the non-profits will be courteously
received, be given information on the corporation’s charitable priorities, experience fair and full evaluation of proposals,
and be clearly informed about grant decisions. Corporate officers recommend projects for grants, receive summary reviews of
proposals, and, if desired, solicit advice from The Maury County Arts Guild’s knowledgeable staff.
The bottom line.
The Maury County Arts Guild Endowment
Fund Program is a win-win-win opportunity: you are freed up to earn the most you can, The Maury County Arts Guild fulfills
its mission of promoting and facilitating philanthropy, and, through cost-effective administration, more money than ever gets
to the charities and individuals who need it.
Making a gift to The Maury County Arts Guild can
be as simple as writing a check or as sophisticated as creating an estate plan.
Options include:
Outright gifts – The Maury County Arts Guild accepts gifts of cash, securities,
real estate, life insurance, or tangible personal property.
Deferred gifts - The Maury County Arts Guild offers many attractive options to help
individuals accomplish specific philanthropic and personal objectives. These vehicles include charitable remainder trusts,
charitable lead trusts, life insurance or an IRA.
Special Situations - The Maury County Arts Guild also works with individuals, families
or corporations with special situations such as transferring assets of a private foundation, or liquidating a company.
The Maury County Arts Guild is happy to work with you and your attorney, trust officer, accountant, or other
financial advisor to assist you in connecting your generosity with the community that you call home.
In Memoriam - When a loved one dies, you are faced with a painful loss and a multitude
of decisions. One of these may be how to create a fitting memorial, a tribute that will herald the difference that this special
person made in the lives of those around him or her.
You may be content to ask that contributions in lieu of flowers be made to "the charity of one’s choice."
Or, you may want to create something lasting — something that can bear your loved one’s name.
The Maury County Arts Guild can help:
Did they love to cook?
Perhaps a memorial to help feed the hungry is appropriate.
Did they love the outdoors?
You may wish to consider a memorial to help children develop
that same delight.
Did they enthusiastically support a particular school or field of study?
Maybe the best legacy
would be a scholarship awarded each year in their name to a student at that school. Setting up a Scholarship Fund through
the Maury County Arts Guild that would promote and award annual memorial scholarships to those individuals that meet your
written criteria, would be would be a lasting reminder of your generosity and community involvement.
Did they love the Theater Arts?
You may wish to consider a memorial to help the Maury County Arts Guild continue to promote Live Theater and
the Arts to the Maury County community.
Creating a memorial that bears your loved one’s name takes only a few minutes — yet will create
a lasting legacy of that special person. Working through The Maury County Arts Guild can keep their name alive by continuing
to foster the causes and ideals they held dear.
Gifts of any size are welcome and are fully tax deductible. For as little as $5,000 — or $10,000 —
these gifts can create a lasting memorial that bears your loved one’s name for years to come.
If you would like to create a lasting legacy of your loved one, we’re here to help.
Memorials
The Maury County Arts Guild is grateful for contributions made in memory of friends and loved ones who have
passed away. Remembrances contributed to the Endowment Fund within The Maury County Arts Guild are a fitting tribute to those
who have enriched our lives and our community. These are truly gifts that keep on giving.
Please call us at (931) 381-9494. We’re here for good.
Cash
Let's say that when you give to charity, you like to give cash. Lots of people do. You would write a check
and that's that. It's simple and straightforward and everybody likes it. You may contact our office for more information on
how to accomplish this very simple task.
Is there another way?
Here's one. You establish Your Fund with our fund manager and request a payment made to the Maury County Arts
Guild whenever you can afford to. The Fund grows over time. Some years you can afford to add more to your Fund, some less.
You can get a full tax deduction for your contribution in the year you make it. Only the income generated by the money you
contribute to the Fund needs to be distributed. Or you can ask that the principal periodically be paid out to us. The Fund
has great flexibility and gives you immediate and maximum tax deductibility.
Securities
In this case, you have discovered how you can give more at less cost than by giving cash. That is, with appreciated securities
-- stocks or bonds that are now worth more than they were when you bought them. But to use them as gifts to a lot of charitable
organizations is an endless nuisance.You donate the securities to our Fund through our fund manager. You get the maximum
tax deduction -- in fact, if the amount is larger than you can use in one year, you can use the surplus as deductions over
the next five years. The Maury County Arts Guild is supported by the Fund and will receive cash. Everyone benefits.
Charitable Remainder Trust
You are making a decision on a new Will. You have taken care of the usual details, assigned sentimental possessions, and
provided for relatives. You decide you would also like to help make the world a better place through your will/estate plans.You
provide that all remaining assets go to the Maury County Arts Guild Fund through our fund manager, significantly reducing
the taxes otherwise payable to your estate. The Fund continues doing good work in your name permanently, a living symbol of
your caring.
Existing Life Insurance
You have been paying premiums on life insurance for years and now the protection it offered earlier is really no longer
needed. The policies have some value, and you would like charity to benefit.You donate the policies to the Maury County
Arts Guild Fund through our fund manager. You get an immediate tax deduction now, usually equal to their cash surrender value.
The Fund grows and we benefit.
New Life Insurance
You want to leave a charitable legacy when you're gone but you don't have a large estate.
You call your insurance agent and arrange for a life insurance policy to be owned by The Maury County Arts
Guild. You make a tax deductible gift to The Maury County Arts Guild which we use every year to pay the premium. You may also
file with us a letter telling us how you wish the proceeds to be used when the policy matures. All proceeds go to the Maury
County Arts Guild. You can even update your recommendations as often as you wish.
Real Estate
You own surplus real estate which has appreciated in value since you acquired it.You give the property to The Maury
County Arts Guild, Inc. The property can then be sold by us to establish your Fund through our fund manager or the proceeds
could be used to set up an income trust to provide extra income during your lifetime (see Life Income-Fixed Amount and Life
Income-Variable Amount). In any event, you will be entitled to maximum tax advantages as a result of your gift in addition
to feeling that your property will be put to good use for community charitable purposes.
Tangible Personal Property
You own a boat, artwork, furniture, or jewelry which you no longer need or your heirs have no interest in receiving. You
know that these assets may be best used by turning them into philanthropic dollars.You give the property to The Maury
County Arts Guild and the property can be sold by us to benefit the Maury County Arts Guild Fund through our fund manager.
When gifted to us, gifts of tangible personal property are deductible at full fair market value if we can use them for Maury
County Arts Guild purposes. If not, then the donor is entitled to a charitable deduction for their cost basis in the property.
In either case, the property is put to use for the benefit of the community.
Assignment of Trust Income
You are the beneficiary of a trust. You receive income from it regularly, and you pay income tax on the full
amount. You are giving part of the income each year to charity, but this does not reduce the tax very much.
You decide how much of this annual income you want to give to charity each year. You assign this portion to
the Maury County Arts Guild Fund through our fund manager. You pay no tax at all on this income and, in addition, you may
receive a substantial deduction at the time of the assignment. Both you and charity benefit.
Gifts from an Estate or Trust
You are the Executor or Trustee under a Will. The Will says you are to allocate a certain amount of money to charity, but
either the organizations and amounts are not named or the task of carrying out the charitable provisions is too burdensome
for your role as Executor or Trustee.With the approval of the court, you set up a Fund through our fund manager to our
organization in the name of the person who died. The charitable portion of the estate is then paid to the Fund.
Life Income, Fixed Amount
You find yourself in later years with a fairly comfortable accumulation of assets, not "super wealthy", but
comfortable. You would like an assured income for yourself and your spouse for the rest of your lives. You figure out just
the amount you will want each year. You want charity to benefit after both your lifetimes.
You establish an Annuity Trust, with the remainder going to the Maury County Arts Guild Fund through our fund
manager. You get a healthy tax deduction which may reduce your income taxes for up to six years. You and your spouse will
receive an income for life, (the same amount each year). When either dies, the survivor will get the income. Your estate taxes
will be reduced and charity will benefit by the remainder which becomes a permanent charitable Fund in your name.
If you prefer, you can do this in your Will, providing a life income for your surviving spouse or
another individual. Because of the estate tax charitable deduction and because capital gains are not taxed to the trust, the
income beneficiary may actually receive a larger income than would otherwise be possible.
Life Income, Variable Amount
You are in the same situation as the Life Income, Fixed Amount, but you are worried about inflation. A fixed
income might buy less and less. You'd like a chance to have the income grow over the years.
In setting up a Fund through our fund manager, you arrange for a Unitrust instead of an Annuity Trust. You
specify that you want a percentage, perhaps 5%, of the Fund's assets paid to you each year for life, instead of a fixed number
of dollars. If the assets grow, your income would grow. Again, as indicated in the last example, this can be done in your
Will, if you prefer, for your surviving spouse.
Pooled Income Fund
You want the advantages of Life Income but don't have a lot of money. You know that setting up your own trust would be
expensive.You join a "Community Pool Income Fund" by contributing $5,000 or more. You earn immediate tax benefits but
the gift does not go to charity right away. Instead, it is invested for you. You get quarterly checks of all the income earned
for the rest of your life. You can even name a second person to receive the income after you're gone.
Charitable Lead Trust
You are trying to plan what will happen to your sizable estate after your lifetime. You can take good care of your children
even though the estate taxes will take a big bite out of what you leave. But what about your grandchildren? Will there be
much left for them when more taxes are taken out of your children's estates?You set up what is called a Charitable Lead
Trust through our fund manager. You donate part of your estate to the trust now, and the income goes to Your Fund for a designated
period of years. Your gift taxes are reduced and the property is not taxed to your children. When your grandchildren reach
maturity, the trust terminates and the assets go to them. Charity benefits during all those years, and your grandchildren
receive much more than they would otherwise.
Transfer Your Foundation
You are a trustee of a private foundation and some of the fun has gone out of the job. Washington lays down more and more
rules about what you can and can't do. They even tax part of the income and require detailed reports. You are concerned about
personal liability and none of the trustees are getting any younger. Sooner or later a better setup has to be worked out.You
establish a Fund in our organization, probably with the name of the private foundation. You arrange to transfer all the assets
of the foundation to the Fund and to dissolve the foundation. Suddenly things get better. The purpose may continue as before.
There is no more tax to pay and charity benefits if you elect to leave the assets in our Fund. We take care of all the paperwork
required by the government. Investment problems are handled by investment people. And there is a satisfaction in knowing that
a permanent organization is in place to administer the Fund in the future. Although you no longer control the Fund, you may
advise and consult with us on its use.
Partial Transfer of Foundation Income
Again, you are the trustee of a private foundation but not all of your fellow trustees can agree now on transferring all
the foundation's assets to The Maury County Arts Guild. Isn't there a smaller step you could take to try out the relationship
while you think about it?You can set up a Fund in our organization, probably with the name of the foundation. You arrange
for the foundation to contribute part or all the current year's income to the Fund. The trustees get to know our organization.
This arrangement, if mutually desirable, can go on indefinitely until the trustees are ready to transfer full advantage of
the Fund to the Maury County Arts Guild.
Options for Corporations
You are an executive in a large corporation responsible in part for corporate giving. Part of your job is easy -- support
the standard charities. You give to the projects the top officers are involved in. But what about the blizzard of appeals
you get from other charities? Who will sift through all of them and make some sense of a giving program?You set up a Fund
in our organization either with the name of the corporation or a simple anonymous name. You divide the corporate giving into
two parts. One part is to cover those things you know you must give to. The other part is discretionary, and you transfer
that to the Fund you have established here. Then our fund manager, iin consultation with you (a Donor-Advised Fund), develops
a giving program that will reflect corporate interest in community need and reflect corporate efforts to address those needs.
Options for Business Owners
You own a business and have built it to a very respectable size. On paper
you are quite well-to-do. You own most or all of the stock in your corporation; earnings are good, but unrealized capital
gains on the stock are large. You would like to begin sharing some of the wealth you created
with charitable institutions.
You set up a Fund for the Maury County Arts Guild. If the stock is publicly traded, you transfer a block of
it to the Fund. If the stock is not publicly traded, you discuss the matter in advance with us and our Fund manager so that
we can determine if the assets can be accepted. If so, the Fund becomes a permanent vehicle for carrying out your charitable
desires.
Options for Organizations who are Liquidating
You are on the board of a for-profit or charitable organization with a problem. The service your organization
offers is no longer practical. Costs are outrunning income; there is little prospect for relief. It would be logical to close
up the agency but there are still some assets, perhaps a building, or perhaps some restricted funds. Your board is still interested
in that particular field of service.
You create a Fund with us, probably with the name of your organization. When you liquidate the assets, you
transfer them to the Fund. You may even specify that the proceeds will be used only for certain areas or service.
Contact Us:
Please contact the Maury County Arts Guild Office at 931-381-9494 with any questions regarding Charitable
Giving to our organization.
Our mailing address is:
705 Lion Parkway
Columbia, TN 38401
