MWC is committed to fostering the appreciation of the written word, supporting and educating its creators of today AND tomorrow.
Since 2007, MWC has been building an endowment at the CFGRB. The proceeds from this endowment help to cover operating expenses and ensures longevity. As of the end of 2014, this fund contained just over $82,000. We received approximately $2,800 for general operating costs.
In 2013, MWC started the Tim Curry Endowment for Youth Writing Programs Fund with the CFGRB to similarly help us sustain our programs for youth, including the Young Emerging Writers Summer Internships, YEW Camps, Children’s Literature Festival, and other youth programming. As of the end of 2014, this fund contained nearly $9,400; we haven’t reach the threshold to collect.
To date, we have raised significant funds. But holding all of our high quality and affordable events and programs is expensive – and the cost will continue to rise.
So to make sure we can continue our mission well into the future, we still need more help. And our endowment funds are a perfect way to do it.
Contributions to the MWC’s endowment funds provide a permanent source of funding for the MWC. The annual funding is used to enhance and support MWC programming for writers and those who appreciate the written word. The larger our endowment becomes, the more annual funding we will receive each year.
HOW IT WORKS
Our current endowments only fund a small portion of MWC expenses, while grants, sponsorships, and generous contributions make up the vast majority of our daily operating fund. The contributions to our endowment are invested by the CFGRB and we are given an annual percentage of the earnings to use, as directed by the Board of Directors, to meet the highest priority needs of the Center. MWC uses the endowment spendable balance for operational costs.
The endowment funds are separate within the CFGRB’s total asset pool of more than $47 million. Pooling assets provides greater efficiency, protection against fluctuations in market value, and enhanced earning power. All assets are managed by experienced, professional investment managers.
Because the endowments are investments, they grow. Greater contributions mean greater growth, leading to more operating funds tomorrow. This not only ensures MWC’s longevity, but ensures more funding goes directly to MWC programming.
This annual income is also stable and reliable, meaning eventual reduced dependency on individual members and donors, important when difficult economic times makes those contributions impossible.
You can help us ensure that the writers of tomorrow can be inspired by the works of local authors and poets, educated at writing workshops, and encouraged by other MWC members by making contributions to the MWC’s endowment funds today!
All donations to the MWC’s endowment funds are tax deductible to the fullest extent of the law. Iowa residents who contribute to the MWC’s endowment may also qualify for an Iowa Tax Credit* in addition to the normal federal income tax deduction for charitable donations.
HOW TO PARTICIPATE:
The easiest gift can be accomplished by writing a check or making an online donation.
Checks should be made payable to the Community Foundation of the Great River Bend. Please indicate in the memo line that the gift is for MWC’s Endowment Fund or Youth Endowment Fund, as applicable, and mail it to:
Community Foundation of the Great River Bend
852 Middle Road, Ste. 100
Bettendorf, IA 52722
Gifts may also be made online through the CFGRB’s website.
2. Gifts of Appreciated Stock:
Gifts of stock benefit you by saving taxes twice. In addition to the income tax deduction for your gift, you also avoid paying capital gain tax on the appreciation.
Making a bequest through your will or living trust is a wonderful way to make a future gift. Because each person’s situation is different, it is best if you call the CFGRB (563-326-2840) and have a confidential conversation regarding your interests.
4. Receive income from your gift:
Some arrangements allow you to make a gift to MWC and receive regular income from the gift. These gifts are called “planned gifts,” and are a wonderful way to give and to receive. The two most common types are charitable gift annuities and charitable remainder trusts.
5. Gifts of other non-cash assets:
These would include retirement plan assets and life insurance.
6. A charitable lead trust:
…helps a donor reduce gift and estate taxes when passing assets on to heirs. Trust income is paid to charity annually for a period of years; at the end of the term, the trust principal passes to family members.
Thank you for considering an endowment gift that will support the MWC’s literary arts programming today…and tomorrow!
If you have any remaining questions, feel free to contact us or the CFGRB directly at 563-326-2840.
*Endow Iowa Tax Credit
All gifts to the Endowment are deductible to the full extent of federal and state laws. In addition to enjoying income tax charitable deductions for your gifts, and because the Endowment is held by the CFGRB, Iowa taxpayers qualify for the 20% Endow Iowa income tax credit. That means that donors significantly save in taxes by making a gift to these funds. Please speak to your tax advisor for more details.