2025…Big incentives for starting or growing an endowment fund at MCF

The Morton Community Foundation is excited to announce four major giving incentives for 2025, the year of our 25th Anniversary, that help donors make an even greater impact in the community.

There may have never been a more advantageous time for someone to make an impact with their donation to the MCF. Not only will you personally benefit from some impressive matching funds and tax benefits, but you will be growing an endowment fund that provides an annual source of revenue for your favorite charity or cause. Check out the incentives below. You may be able to layer some or all of the benefits!

The Kuhl Fund matches donations to new or existing endowment funds at MCF:
• $0.50 match per dollar on single gifts of $5,000 to $20,000. (Example: $5,000 donation = $2,500 match; $20,000 or more donation = $10,000 match.)
• Eligible Funds: Endowment funds only (non-endowed funds do not qualify). Match does not qualify when establishing a new endowed Scholarship fund.
• Matching Cap: $100,000 in matching funds is available for 2025—first come, first served.
CLICK HERE FOR GUIDELINES
Through this program:
• Donors to qualified endowment funds can receive a 25% Illinois state tax credit on contributions.
• Tax credits are capped at $100,000 per donor annually (up to $400,000 in donations).
• $5 million in tax credits are available statewide for 2025, with 25% reserved for contributions of $25,000 or less.
• MCF can receive up to $3 million in qualified contributions.
Act quickly—credits are first-come, first-served.
CLICK HERE FOR MORE INFORMATION
The Caterpillar Foundation offers a year-round Matching Gifts Program that matches employee and U.S. retiree donations to eligible charities on a 1:1 basis, up to $10,000 per participant annually.
This means that if you are a Caterpillar employee or retiree, your donation to the Morton Community Foundation can be doubled, significantly enhancing your contribution to the community.
CLICK HERE FOR MORE INFORMATION
Donating appreciated stock offers unmatched tax benefits, such as avoiding capital gains tax on the appreciated value while deducting the full fair market value of stock held for more than 12 months.
For example, if you purchased Apple stock 10 years ago at $20 per share, a gift of 100 shares now worth $20,000 would have cost you just $2,000. You avoid taxes on $18,000 in gains and can deduct the full $20,000 as a charitable deduction for tax purposes.
Stock donations are easy, take minutes online, and are completely free for you and your advisor. Learn more on our website, or call for a no obligation discussion.
CLICK HERE FOR MORE INFORMATION

Make a Difference Today

These 4 programs amplify your impact while offering significant tax benefits, especially if your donation qualifies for several, or all the above incentives. Whether supporting the Morton Public Library, education, or other local non-profit organizations, your gift goes further in 2025.

“Illinois Gives” Tax Credit Act
Rewards Donors with 25% Income Tax Credit for Endowed Gifts

New law takes effect January 1, 2025

Gifts must be donated to an endowed fund at a qualified community foundation.
the morton community foundation is a qualified community foundation.

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Support the Dolly Parton
Imagination Library…

Providing free books for every student in Tazewell County up to 5 years old

ONCE UPON A TIME…

Children under five years old who live in Tazewell County are now eligible to receive a free book each month through Dolly Parton’s Imagination Library program in partnership with Tazewell County Libraries. The free books are offered to all children under five in the county, regardless of family income.

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Check out one of our newest funds…
Morton Gridiron Club Endowment Fund

learn more about the morton gridiron club endowment fund. click below…

Gridiron

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How does the Morton Community Foundation work?
What does it mean to Gather, Grow, and Grant?

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You’ve lived here. You’ve worked here.
Morton has been good to you.

You can give back with a gift to our community’s future. By designating a portion of your estate for future good works, you can endow a charitable fund at the Morton Community Foundation that will bear your name (or any name you choose) forever. Your gift will establish a permanent legacy, provide a lasting source of pride and build a stronger community.

GIFTS OF NON-CASH ASSETS

Individuals who wish to start an endowment fund at the MCF, or who wish to donate to an existing endowment may do so by directly transferring shares of highly appreciated stock, which could result in tax savings for the donor.

The size of your benefit is your unrealized gain times your tax rate. This basic idea still applies if you’re only donating a smaller amount of stock at the lower long-term capital gains rate of 15%. If you bought a stock for $1,000 and it’s now worth $2,000, donating it directly will save you $150 to $238 in taxes ($1,000 x 15% or 20% or 23.8%). If someone didn’t know and simply changed the order (sell stock, then immediately donate the cash proceeds), that tax savings would disappear.

"…This special benefit is particularly important under the new tax law, because it applies to all donors, even non-itemizers who canʼt use charitable deductions.

Donors can benefit even when they donʼt want to change their investment portfolio. For example, instead of donating cash, a donor can give shares of appreciated stock and then use the cash to immediately purchase identical replacement shares, leaving the portfolio intact, but eliminating all capital gains." Source: Professor Russell James III , J.D., Ph.D., CFP® Director of Graduate Studies in Charitable Financial Planning Texas Tech University.

Caterpillar or State Farm employees or retirees who combine direct transfer of highly appreciated stock to the MCF along with the State Farm or CAT Foundation 1:1 matching grants program can make huge impact on their favorite cause(s) through the Morton Community Foundation.

Higher Standards

The Morton Community Foundation has recently been accredited with National Standards for U.S. Community Foundations®—the highest standards for philanthropic excellence.

We work to support the causes our community cares about, from supporting our outstanding schools and strong youth sports organizations to installing adaptive recreational equipment, supporting our amazing public library, and collecting donations for non-profit and school COVID mitigation efforts. National Standards says that we meet the most rigorous standards in philanthropy and is a promise to our community that we’ll continue to do this good work together, right here in Morton.

National Standards is not mandatory. We chose to go above and beyond by affirming our commitment to excellence and accountability. Our accreditation provides assurance that we have sound policies and practices in place. In short, it means we meet the highest standards for local giving.

To receive accreditation with National Standards, the Morton Community Foundation submitted our policies and procedures to a rigorous review of 26 National Standards in six key areas of community foundation operations, including donor services, investment management, grantmaking and administration.

The National Standards for U.S. Community Foundations® program was established in 2000 in cooperation with the Council on Foundations. For more information about National Standards, visit www.cfstandards.org.

Qualified Charitable Distribution?

You can lower your federal and state tax liability by changing how you contribute to your favorite charities.

This from our friends at David Mills C.P.A...."Qualified Charitable Contributions (QCD): We still speak to several people who are not aware of the tax advantages of this program. You can lower your federal and state tax liability by changing how you contribute to your favorite charities. For higher income taxpayers you may be able to lower income enough to avoid higher Medicare premiums. Call us or your financial advisor for more details."

And, this from the IRS...

What is a qualified charitable distribution?

Generally, a qualified charitable distribution is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. See Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) for additional information.

Can a qualified charitable distribution satisfy my required minimum distribution from an IRA?

Yes, your qualified charitable distributions can satisfy all or part the amount of your required minimum distribution from your IRA. For example, if your 2019 required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution for 2019, you would have had to withdraw another $5,000 to satisfy your 2019 required minimum distribution.

OUR INDIVIDUAL ANNUAL SUPPORT PARTNERS

Click the button below to see a list of all the individuals/families who have made a commitment to support the Morton Community Foundation's Operating Fund with regular monthly/quarterly/annual donations. Call to find out how you too can help in this way.

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