In addition to the three awards that have been offered in the past, the Community Foundation will now award an endowment administered by the Foundation an additional $200 for each new person who names that endowment as a partial or full beneficiary of a life insurance policy, an individual retirement account, a trust, or another type of planned gift.
An additional requirement is that these persons agree to join the Community Foundation's Legacy Society, which recognizes these special people.
Six groups with endowments have notified the Community Foundation that they intend to compete this year: Greencastle High School Alumni Scholarship, Purdue Club of Putnam County Scholarship, Putnam County Board of Realtors Scholarship, Putnam County Council for the Aging and Aged (Senior Center), the Reading Improvement Center and the Russellville Community Center.
An organization's endowment allows it to sustain and transform its operations and programs into the future. Most endowment "gifts" are given at the time of a person's death, through his or her will or other planned giving vehicle.
"We hope this new contest will help spread the word about how easy it is to make a planned gift," Elaine Peck, executive director of the Community Foundation, said. "Charitable gift planning is not only for the wealthy. People can take care of children and grandchildren and their favorite charity. With a will, most people can ensure their financial security and make a difference for their favorite charities in the future."
The Putnam County Community Foundation is a nonprofit public charity established in 1985 to serve donors, award grants and provide leadership, enriching the quality of life and strengthening community in Putnam County.
The Community Foundation administers 224 active funds and endowments for donors supporting a variety of charities. To obtain additional information about Share the Dream or gift planning options, please contact the office at 653-4978 or visit www.pcfoundation.org.