Each of us wants to impact the lives and communities around us. Whatever your philanthropic interests, The Spartanburg County Foundation is eager to partner with you to help ensure your donations impact the projects and initiatives you hold dear.
Our staff will work with you to create a customized giving program. Through the Foundation, you may contribute a variety of assets by adding to an existing fund or creating a new fund to fulfill your charitable goals. By donating, you may be entitled to receive maximum tax advantages. You are both able to contribute during your lifetime or create a bequest in your will.
For more information about giving through The Spartanburg County Foundation, please contact Troy Hanna, president & CEO, at
WAYS TO GIVE
A gift of cash is the most popular way to donate because of its simplicity. A cash gift of any size is always welcome. Please mail gifts to: The Spartanburg County Foundation, 424 E. Kennedy Street, Spartanburg, SC 29302.
You may give stock and receive a tax deduction for its full market value, thus reducing capital gains tax on appreciated stock. This is often the most effective way to make a philanthropic gift. Click here to download a sample letter which can be used to facilitate your stock gift.
For more information, read our online booklet about Gifts of Stock.
The Foundation will accept most gifts of real estate. Such a gift allows you to avoid taxes on capital gains, thus enabling you to provide a greater benefit to the designated nonprofit.
For more information, read our online booklet about Gifts of Real Estate.
You can name the Foundation, or other qualified nonprofits, as owner of a paid-up life insurance policy. You receive a tax deduction and gift credit based on the current value of the policy.
For more information, read our online booklet about donating a Gift of Life Insurance, or watch the video below which explains one of these types of funds, the Greg and Liberty Canzater Fund.
Bequest by Will
You may transfer any asset you own through a written will to benefit a specified nonprofit. Such transfers will yield no tax benefit to you during your lifetime but may offer some deductions on your estate taxes.
For more information, read our online booklet about Bequesting By Will.
Charitable Remainder Trust
You may use many different assets to establish trusts that will benefit you and your heirs for life or for a specified period of time. The remaining interest in the trust is earmarked for designated nonprofits. These trusts provide significant tax benefits for you.
For more information, read our online booklet about a Charitable Remainder Trust.
Charitable Lead Trust
A charitable lead trust is the reverse of a charitable remainder trust, enabling you to transfer assets to heirs with a lower tax burden. Once such a trust is established, you may then designate nonprofits to receive benefits for a specified period of time before the assets go to designated heirs.
For more information, read our online booklet about a Charitable Lead Trust.
Upon death, an investor’s unused IRA assets will be heavily taxed, consuming anywhere from 60 percent to 80 percent of the monetary value between estate and income taxes. You can avoid this by naming a tax-exempt charity such as The Spartanburg County Foundation or a fund managed by the Foundation with your unspent retirement assets.
For more information, read our online booklet about a IRA Opportunity.
Planned Giving Legacy Society
Join the Foundation’s planned giving legacy society by committing yourself to making a gift, large or small, in the future. We currently handle more than 140 planned giving funds for various charitable interests.
The Spartanburg County Foundation also gives you the opportunity to start your own fund.
TAX RECEIPT LETTERS
Beginning October 1, 2022, the Foundation will provide tax receipt letters via email for all providing email addresses with their gifts. This updated practice responds to multiple requests we have had to provide receipts in real-time, a benefit to donors and fundholder with the added benefit of saving postage and mailing costs. When you give, please provide your email address with your gift to help us better serve you.
THE COMMUNITY FUND
Do you wish to leave a legacy of influence that will continue to meet the ever-changing needs of Spartanburg County for years to come? There’s no better avenue than the Foundation’s Community Fund.
INVESTMENT POOL OPTIONS
START YOUR OWN FUND
The Foundation offers a variety of different funds that can meet any type of charitable interest. You can even establish your own fund to customize your donations and goals.
ESTABLISHING A FUND
It’s quick and easy to establish your own named charitable fund. Our staff will work with you and, if you choose, your financial advisor every step of the way.
- Determine your charitable purpose or intent.
- Choose the type of fund that best supports your goals.
- Complete a simple governing document.
- Name your fund.
- Designate current and successor fund advisors.
- Make an establishing gift.
- Receive a tax deduction when the fund is established and when additional contributions are made.
TYPES OF FUNDS
Agency Endowment Fund
Agency endowment funds help your nonprofit organization meet both current and future needs. The Foundation handles all investment and administrative responsibilities, leaving your organization free to pursue its charitable mission.
By opening a donor-advised fund, you retain ongoing involvement in the use of your gift. With a donor-advised fund, you work directly with our professional staff, identifying ways to use dollars from your fund to address the issues you care about most.
Through a field-of-interest fund, you can target gifts to benefit the cause most important to you: arts, health services, education, neighborhood revitalization, youth welfare, and more. The Foundation awards grants to community organizations and programs addressing your special interest area.
By opening a scholarship fund, you can invest your gift in the community’s future, all with the guidance and personal services of your community foundation. You determine the criteria students must meet to receive the scholarship you establish. With your assistance, students can achieve their academic and career goals.
A supporting organization provides an excellent alternative to a private foundation with only a fraction of the administrative responsibilities. You stay involved, selecting board members and funneling your dollars to support your favorite causes, while enjoying the favorable tax treatment of a public charity without all the work.
Roy and Jibba generously set up the Roy S. and Elizabeth P. Powell Mobile Meals Trust Fund with the Spartanburg County Foundation which annually provides a very generous gift to feed those in need, many of which are in Camp Croft Courts. Their cycle of loving others and taking care of those in need will continue forever from their trust! I pray that their generosity will inspire others. We always receive the blessing by blessing others. Story Credit: Jayne McQueen with Mobile Meals of Spartanburg, September 2020 NewsletterMemories of Camp Croft Courts and Roy and Jibba Powell – Mobile Meals of Spartanburg
From Recipient to FundholderSixty-one years ago, I received a $500 loan from The Spartanburg County Foundation which enabled me to return to college for my senior year. Today, Keith and I have two scholarship funds at The Spartanburg County Foundation to help local students attend college.Louise Parris
The Higgins Family Fund (Life Insurance Policy)We have great trust in the leadership of The Spartanburg County Foundation to continue our philosophy of giving. We have confidence the Foundation will continue that legacy long after we are gone.Mary and Rick Higgins
The Doris and Claude Tidwell Spartanburg High School Scholarship Fund (Scholarship Fund)Educating young people ensures that our future will be in good hands. Our trust in The Spartanburg County Foundation to manage our fund and provide valuable guidance enables us to meet the needs of future leaders.Doris and Claude Tidwell
The J M Smith Foundation, Inc. Trustee Initiated Fund (Unrestricted Field of Interest Fund)Community always has a tomorrow. By investing in unrestricted giving through the Foundation, we can make an impact for future generations.Ken Couch, RHP