Double Your Giving Power
$2 for $1 Match on Power for Good Fund Gifts
Unity Foundation is one of 94 Indiana Community Foundations invited by the Lilly Endowment Inc. to apply for funding under Phase VII of Lilly’s GIFT initiative. This generous program allows the Unity Foundation to earn a grant for $1 million to be used to strengthen La Porte County now and forever.
On October 15, Lilly Endowment announced Phase VII of its Giving Indiana Funds for Tomorrow (GIFT) Initiative for Indiana Community Foundations.
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Begun 28 years ago, the GIFT initiative was designed to help local Indiana communities develop the philanthropic capacity to address their own needs and challenges. In their announcement, Rob Smith, the Endowment’s vice president for community development said; “In the 28 years since GIFT began, community foundations have demonstrated their ability to inspire imagination, generosity and commitment among local residents, donors and volunteers. Changing economic and cultural dynamics are presenting both significant challenges and important opportunities for Indiana Communities. With GIFT VII, we seek to help community foundations raise resources and further enhance their ability to lead collaborative efforts to improve the quality of life for their residents.”
GIFT VII Details:
Gifts can be matched starting Oct 1, 2018 until December 31, 2020 or until $500,000 is raised.
A $1,000 gift means $3,000 for the community forever!
Only unrestricted gifts can be matched
- Gifts to the Power for Good Community Fund – helps the most!
- People can name their own Community Fund-Lilly match will be added to it. ($5,000 minimum to start a fund with Unity.)
- Adding to an established Community Fund (Unity has 19 separate community funds -the match from Lilly will be added to the specified fund.)
Qualifying Matching Gifts
- Cash & Credit Card gifts
- Stocks & marketable securities
- RMD’s: Required annual Minimum Distributions from an IRA
- Planned gifts- Irrevocable gifts like charitable remainder trusts (CRT) or charitable gift annuities (CGA) the matchable portion is the amount the IRS allows the donor to take as a tax deduction. Revocable gifts are not eligible.
- Donor Advised Funds- DAF’s
- DAF’s within Unity will not be matched
- Only DAFs controlled by an organization other than Unity will be matched.
- Contributions will be counted as matching funds on the basis of their gift value as determined by applicable United States Department of Treasury Regulations. (Gifts must be Tax Receipt-able)
Neil P. Ruzic (1931-2004) was a visionary, connector and pioneer in not just one, but four different arenas. He published 250 articles, wrote 12 books and was a publishing innovator. He made the case to Congress in 1965 for going to the moon and authored the transfer...read more