The League of Women Voters of Greater Cleveland (LWVGC) Endowment Fund of the Cleveland Foundation, established in 2015, is an organizational fund that provides ongoing financial assistance to LWVGC and its programs. The fund is held and managed by The Cleveland Foundation, which invests the assets for greater return on investment and fiscally prudent growth. Each year, a percentage of the fund is available for the needs of The LWVGC Endowment Fund.
Donors to the LWVGC Endowment Fund provide LWVGC with an important source of revenue now and in the future. All gifts to the LWVGC Endowment Fund are tax deductible at the highest income tax level, and The Cleveland Foundation provides gift acknowledgment letters or receipts for each donor. As the LWVGC’s philanthropic partner, The Cleveland Foundation, can help you make your greatest charitable impact through funds that are flexible, innovative and personalized. Those include:
Gifts of Cash or Appreciated Assets – These gifts are simple and impactful. All cash contributions to the League of Women Voters of Greater Cleveland Endowment Fund can be tax-deductible. Appreciated assets can include stocks, bonds, mutual funds and real property, and can also be accepted.
Bequests – A bequest to the LWVGC Endowment Fund is one of the most essential ways to provide a future gift to benefit LWVGC. The Cleveland Foundation can coordinate with your legal professional to discuss specific bequest language for inclusion in your will or trust.
Charitable Gift Annuities – A charitable gift annuity is an irrevocable gift that returns an income stream to the donor or another beneficiary over their lifetime. The donor qualifies for an income tax charitable deduction for part of the gift, while the payments to the beneficiary may receive favorable tax treatment based on the asset used to fund the gift. At the end of the gift term, the remainder of the annuity would support the LWVGC Endowment Fund to help substantially meet the future needs of LWVGC.
Life Insurance Policies – Life insurance policies can become an excellent tool to support the LWVGC. There are several different ways to structure such a gift. The Cleveland Foundation can work with you, LWVGC and your professional advisors to review these options and select the best choice based on your unique circumstances.
Charitable Remainder Trusts – Charitable remainder trusts allow donors to create an income stream for themselves or other beneficiaries for a term of years, with the remainder of the trust corpus creating a gift to charity, which can include The LWVGC Endowment Fund. Charitable remainder trusts are flexible enough to permit the use of a variety of assets, including cash, securities, and at times, even real property. The Cleveland Foundation will work with you and your professional advisors to provide sample calculations, which will help you determine whether this vehicle is right for your philanthropic goals.
Charitable Lead Trusts – As the opposite of a charitable remainder trust, a charitable lead trust provides payments to LWVGC Endowment Fund, and remaining assets would be transferred to other individuals or even back to the donor at a future date. The Cleveland Foundation can work with you and your team of professional advisors to review sample illustrations to ensure you choose the best approach for your charitable goals.
For more information, please contact League of Women Voters of Greater Cleveland at 216-694-8108 or the Cleveland Foundation Advancement team at 216-685-2006.
Thank You for Your Support!