Foundation Launches Community Needs Impact Fund
The Foundation for Delaware County recently announced a new Designated Fund, the Community Needs Impact Fund.
It is designed to target and support critical areas of need in Delaware County.
This fund is in addition to the Foundation’s annual Impact grants and will allow it to extend its reach and make a bigger impact on Delaware County communities.
This fund adds an additional avenue for individuals in the community to directly contribute to addressing urgent issues that affect us all.
Every donation, large or small, will help strengthen the social fabric of our community.
The fund’s creation was spearheaded by local residents Corliss and Clay Boggs, who have been long-time supporters of the Foundation.
It was made possible through a required minimum distribution (RMD) from their Individual Retirement Accounts.
“We’ve been part of Delaware County for a long time, and we see the struggles that some people face,” said Corliss and Clay Boggs. “That’s why we felt it was essential to establish the Community Needs Impact Fund.
“We wanted to provide a platform for everyone in our community to be part of the solution. We invite everyone to join us in making Delaware County an even better place for all.”
Making a charitable contribution with an RMD helped them to fulfill philanthropic goals while also providing substantial tax benefits. With RMDs, the donated amount can be excluded from taxable income, potentially lowering the donor’s income tax rate.
It is one of several ways that individuals can find tax-efficient ways to support initiatives they care the most about.
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