Frequently Asked Questions - Endowment Funds
What is the Legacy Endowment Fund?
The Legacy Fund is an endowment fund that was created to develop and provide a permanent source of supplemental funding for the local humanitarian and charitable programs supported by the Rotary Club of Fort Collins.
What is the Rotary Club of Fort Collins International Endowment Fund?
This fund will provide a permanent source of supplemental funding for the international humanitarian work of the Rotary Club of Fort Collins.
I already give to the club’s "Annual Charitable Fund", why give again?
Our annual fund makes an immediate impact and is spent each year. With our Endowment Funds, a portion of the earnings are released every year, at a payout rate determined to support our priorities and the purposes specified by donors—without withdrawing from the principal.
While gifts to our annual fund are critical to support our ongoing humanitarian work, our endowments are essential for long-term financial stability as they provide a permanent, self-sustaining source of funding.
What are some of the benefits to giving to our endowment funds with my estate plan?
- Your assets remain in your control during your lifetime
- You can modify your bequest if your life circumstances change.
- It is private; the amount of your bequest will only be released if you desire or upon your death.
Is my gift tax deductible?
Yes, the Rotary Club of Fort Collins Legacy Endowment Fund and International Endowment Funds are both funds of our 501(c)(3) organization, the Rotary Club of Fort Collins Charities, EIN: 84-1027489.
Do I have to specify a specific dollar amount in my estate plan?
No, a request can be specific dollar amount (“I bequeath the sum of Ten Thousand [$10,000] Dollars”) or it can be a percentage amount ("I bequeath Ten [10%] Percent of the residue of my estate")
How do I name the Legacy Endowment Fund or International Endowment Fund in my estate plan?
In your estate plan, please include language similar to below:
- Leaving a gift to the Rotary Club of Fort Collin’s Legacy Fund: I give $_____ [or] %_____ to the Rotary Club of Fort Collins Charities Inc (EIN: 84-1027489). This gift is to be used to fund the Rotary Club of Fort Collins Legacy Fund to build the endowment in support of the local community work of the Rotary Club of Fort Collins Charities.
- Leaving a gift to the Rotary Club of Fort Collins International Endowment Fund: I give $_____ [or] %_____ to the Rotary Club of Fort Collins Charities Inc (EIN: 84-1027489). This gift is to be used to fund the Rotary Club of Fort Collins International Endowment Fund to build the endowment in support of the international work of the Rotary Club of Fort Collins Charities.
Does the fund accept gifts of stocks and bonds?
Gifts of appreciated securities (bonds and stock, including stock in closely held companies) may be donated. Such gifts often provide important tax advantages. Their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income. As with gifts of cash, deduction amounts exceeding this limit may be carried forward for up to five additional years. The added benefit of giving appreciated securities is the avoidance of the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as gifts of publicly traded stock.*
Can I designate the Legacy Endowment Fund or International Endowment Fund as a beneficiary to my retirement account?
Yes, our Endowment Funds can be designated as the beneficiary of your retirement plan (IRA/401k etc.) as the sole beneficiary or a percentage beneficiary. *
Can my estate gift be contingent on other factors or conditions?
Yes, the gift could only take effect if certain conditions are met. For example, it you may state, “In the event my spouse does not survive me, I give to the Rotary Club of Fort Collins Legacy Endowment Fund XYZ amount”
I already have a completed will / estate plan. Is it expensive to make a change and include the Legacy Fund?
You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document, called a codicil, which adds a new bequest to one of our Endowment Funds while reaffirming the other terms of your will. Similarly, an attorney can prepare an amendment to a revocable trust to add the Legacy Endowment Fund or the Rotary Club of Fort Collins Endowment Fund as a beneficiary.
Are there other types of gifts I can give?
Yes, the fund can accept real estate and tangible personal property. These gifts must be approved first by the Community Foundation of Northern Colorado.
Can I make a donation now?
Yes, in addition to including the Legacy Fund in your estate plans, we welcome all types of gifts.
Mail: Simply make your check payable to the Rotary Club of Fort Collins Charities and write, in the memo line “Rotary Club of Fort Collins International Endowment Fund or Rotary Club of Fort Collins Legacy Fund”. Send the check to the following address or give to our Treasurer:
Rotary Club of Fort Collins Charities
P.O. Box 1206
Fort Collins, CO 80522-1206
P.O. Box 1206
Fort Collins, CO 80522-1206
Other Gifts: For more complicated gifts such as appreciate stocks, please contact legacy@rotarycluboffortcollins.org
How is the fund managed? How can I be sure it is safe in the future?
The Legacy Endowment fund and the Rotary Club of Fort Collins International Endowment Fund are held at The Community Foundation of Northern Colorado. The Community Foundation of Northern Colorado meets National Standards for operational quality, donor service and accountability in the community foundation sector.
To receive confirmation of National Standards compliance, they submitted their organizational and financial policies and procedures to a rigorous peer review. To meet all 43 standards, they were required to document our policies in donor services, investment management, grant making and administration.
The National Standards Seal indicates official confirmation from the Council on Foundations that the Community Foundation of Northern Colorado has met the most rigorous standards in philanthropy.
To receive confirmation of National Standards compliance, they submitted their organizational and financial policies and procedures to a rigorous peer review. To meet all 43 standards, they were required to document our policies in donor services, investment management, grant making and administration.
The National Standards Seal indicates official confirmation from the Council on Foundations that the Community Foundation of Northern Colorado has met the most rigorous standards in philanthropy.
Would the club like to know when I include one or both of the Endowment Funds in my estate plans?
Yes, we appreciate if you would let us know. We would like to formally recognize that you have included one of our Endowemnt Funds in your plans. (You always have the option to remain private of course)
* Information provided is not intended to be tax or legal advice. Please consult a qualified financial advisor before making a gift.
Learn more about why the Legacy Endowment Fund and International Endowment Fund are needed.
Learn more about how you can support our Endowment Funds.
For additional information please e-mail Legacy@RotaryClubofFortCollins.org