In our monthly column from Karen Minogue, Waccamaw Wisdom, we’ll unpack the latest in philanthropy and offer tips to make your giving more effective. Topic suggestions welcome at firstname.lastname@example.org.
At Waccamaw Community Foundation, we have a charitable fund up and running quickly and simply, just like a checking account at your local bank. From this fund, you can manage your regular charitable giving with more ease than a private foundation.
We are in the business of connecting donors with causes they care about, so we want to help our donors meet all of their charitable goals not just now, but in the future. Many donors may think they need to set up a private foundation or trust to manage legacy giving, but funds at Waccamaw Community Foundation are designed to do just that – they’re designed to be your charitable savings account, invested to last forever.
Take Harry Parnell, for example. When Harry Parnell lost his wife, Marti after a brief illness, he was devastated. His dream, based on Marti’s last wish, was that the medical community be made more aware of the symptoms of the rare Signet Ring Cell Cancer from which she suffered.
Immediately upon Marti’s passing, Harry Parnell looked into establishing a private foundation to fund this cause. However, Harry quickly discovered how much it would take and became discouraged. Then he heard how Waccamaw Community Foundation could establish a charitable fund serving the same purpose as a private foundation, without the tremendous resources and time. With WCF’s help, Marti’s Wish Fund was immediately established, and just weeks later, the “Marti’s Wish” Fund made its first grant to the Medical University of South Carolina (MUSC) to educate a team of doctors about the symptoms and early treatment of Signet Ring Cell Cancer.
The public has been able to contribute to the Marti’s Wish Fund, something they would not have been able to do if Marti’s Wish had been established as a private foundation. However, most importantly, Marti’s Wish Fund can accept legacy gifts in the future, perpetually enabling the Fund to provide health-related grants to improve the lives of others — generation after generation.
Your Waccamaw Community Foundation fund is both a checking and a savings account, a vehicle to manage your giving now and throughout the future. We exist, in perpetuity, to steward your fund and carry out your charitable intent. Give us a call or drop in anytime to learn how we can work together on your legacy gift today.