Who can make donations to the Grays Harbor Community Foundation?
Anyone that wishes to support the county of Grays Harbor, a nonprofit organization in Grays Harbor, or benefit the residents of Grays Harbor may make a donation.
How can I make a donation?
A small donation may be made through simply sending a check to the Foundation with a note explaining what you would like done with it (i.e. to our existing scholarship program as a memorial to one of your teachers that has passed away, or to the Cancer Care fund, the Friends of the library, or just about whatever you would like to support). Larger donations for perpetual benefit should be made after consultation with the Executive Director so that we can understand your intent and to develop the legally required documentation to provide for the continued support of your wishes.
Can I make a donation through my estate or my will?
It is easy to leave a portion of your estate to the Community foundation for a particular purpose. The least expense is to contact the Executive Director to develop an agreement describing your intentions. Then specify in your will that you wish to give X% or X dollars to the Grays Harbor Community Foundation. When notified, the Foundation staff will begin to execute the agreement.
Are my donations tax deductible?
Yes, all donations to the Grays Harbor Community Foundation are tax deductible up to 50% of your adjusted gross family income (i.e. if your adjusted gross family income is $100,000, you may deduct a gift of up to $50,000, and you would pay income tax on $50,000). However, you will only receive an automatic acknowledgement providing the deduction documentation when your gift is more than $250. You must request documentation if the donation is less than $250. You may still itemize your donation without documentation.
What can be accepted as a donation?
Donations may be made in cash, check, stocks and/or bonds, real property, etc. In fact one of the best (and least expensive donations) is appreciated stock or real property. For example: if you gifted the 100 shares of Microsoft stock purchased for $19 in 1998, and it has now grown to 2,000 shares at $23, your cost was $1,900 and your tax deductible gift would be $46,000. However, we do not accept automobiles, boats, recreational vehicles, etc.
What is the “required documentation” needed for a Large or Perpetual Donation?
The documentation for a larger donation for perpetual benefit is an acceptance letter composed of three parts:
- The agreement – defining and describing purpose of the gift
- Funding details – the description of the gift (cash, check, stocks, etc.)
- Fund details – a description of the process for execution of the donors wishes and intentions
Could my gift be declined?
Yes, a gift may be declined if the Board of Directors of the Grays Harbor Community Foundation determine that:
- The intentions of the donor are not in compliance with IRS regulations governing charitable donations or Community Foundations
- The intentions of the donor are not reasonable and/or beneficial to Grays Harbor or its residents
- The gift is not adequate to accomplish the wishes of the donor
- The Executive Director and/or Board of Directors can potentially work with you to find the right home for a gift that is not a good fit for the Grays Harbor Community Foundation. Our goal is to help you be philanthropic and we will do all we can to assist you in that activity.