The Carobell Endowment Fund was established to provide a permanent and sustaining source of annual support for Carobell.
The Endowment enables interested and concerned citizens, organizations and businesses to direct their charitable dollars to the support of Carobell and its future. Many individuals and families may choose to make their gifts in honor or memory of a beloved family member or friend. Gifts may be made in many forms, and gifts of all sizes are most welcome! As this fund grows, so, too, will its ability to provide an important stream of income to sustain the work of Carobell.
The Carobell Endowment Fund is invested and administered through the North Carolina Community Foundation (NCCF).
How can you support the Carobell Endowment?
You can ensure the continuation of our mission in many ways: your gift or pledge to the fund; your gifts in memory or in honor of friends and family; or your thoughtfully planned bequest. All contributions support our goal to build a strong endowment for the future. All gifts are tax-deductible to the fullest extent allowed by law. Some types of gifts for you to consider include:
The simplest and most convenient way of participating in the fund is through cash gifts, which may take the form of pledges over a period of years. All such gifts qualify for maximum income tax deductions. Gifts may be made by check, credit card, or online by visiting: www.nccommunityfoundation.org.
Securities or Real Estate
Gifts of appreciated securities and real property may provide important advantages to donors who have held assets for a long period of time. The full fair market value of such gifts may be deductible as a charitable contribution. In the case of restricted or closely held stock, the real estate or other unusual assets, the proposed gift may require an appraisal, a review by the North Carolina Community Foundation counsel and approval of the NCCF board of directors.
Wills or Bequests
There are many ways to remember the Carobell Endowment in a will. After providing for heirs, a donor can specify that some or all of the remaining assets by given to the Carobell Endowment, thereby achieving a lasting purpose and reducing the taxable portion of an estate.
Sample Bequest Language:
I give, devise and bequeath to the North Carolina Community Foundation, Inc., a North Carolina nonprofit corporation and community foundation with Federal Tax Identification Number 58-16611700, located at 4601 Six Forks Road, Suite 524, Raleigh, NC 27609, the remainder of my estate [or a specific sum] for the Carobell Endowment, a component fund of the Foundation.
The Carobell Endowment may be named as the owner and beneficiary of a previously existing or new life insurance policy. The donor receives an immediate tax deduction, which is generally equal to the policy's cash surrender value. All premium payments made by the donor thereafter al also tax-deductible.
Charitable Remainder Trust
A donor may wish to make a contribution to charity but need all of his or her income for current expenses. The donor can leave property to the Carobell Endowment at death or give the assets new, subject to a retained income interest.
About the NCCF
The NCCF is the single statewide community foundation serving North Carolina and has made nearly $73 million in grants since it began in 1988. It provides donors with flexible, cost-effective and permanent vehicles for carrying out their charitable goals. NCCF partners with 60 county affiliates across the state and focuses primarily on establishing and building endowments for nonprofit organizations serving North Carolina's people and communities.
For more information about NCCF, visit www.nccommunityfoundation.org or call us at 1-800-201-9533.