Highlights during 2006... In January, the Board and staff revised the foundation’s 2010 Strategic Plan around five key strategies that focus on: • becoming the center for philanthropic resources • development • implementation of innovative donor services • implementing appropriate systems and controls to carry out the expanded program of work • exercising foundation leadership as an advocate for community change in responding to identified needs.
In November, the foundation moved into a new headquarters located at 424 East Kennedy Street.
Planned Giving Legacy Society
any of our patrons have chosen to establish a Planned Giving relationship with The Spartanburg County Foundation over the years, which would be funded from their estates, making a difference in the good causes that they support and believe in for many years into the future. These patrons have experienced the joy of giving and the satisfaction of making a difference. We realize that there are many choices today as to where you can place your charitable gifts and The Spartanburg County Foundation appreciates the many patrons who have chosen us to be the steward for their future philanthropic funds. Planned giving encompasses a variety of ways that gifts can be made to The Spartanburg County Foundation from accumulated resources. It usually involves financial or estate planning and is not necessarily reserved for only the wealthy. Planned giving is a means by which anyone concerned with the wide use of his or her personal resources makes a considered choice about their ultimate disposition. In general, planned gifts are made through deferred gifts or outright gifts.
Deferred Gifts • A Bequest in a Will. . . a percentage of an estate, a specific asset (IRA’s or 401-K), a trust or the naming of The Spartanburg County Foundation as a contingent beneficiary. • A Life Income Gift. . . such as a Charitable Gift Annuity, a Charitable Remainder Trust, or a Charitable Lead Trust. • Life Insurance. . . make The Spartanburg County Foundation the owner and beneficiary of a life insurance policy. • A Life Estate. . . such as a gift of a home, vacation home or other related property. Outright Gifts • Appreciated Property. . . such as real estate, securities or personal property. Planned giving establishes a way for a donor to make a larger gift than they thought possible, as in most cases, it reduces estate taxes. Our donors have either opened new funds or designated existing funds at the Foundation to receive a residual of their estates, which will address their specific interests and concerns in Spartanburg County. Planned giving through The Spartanburg County Foundation ensures that you can honor the past, sustain the present, and nurture the future.
28 • The Spartanburg County Foundation
SPCF Annual Report 2006