Endowment Fund

Community Endowment Fund

Established in 2008 by a group of concerned residents, the Hannaford Area Community Foundation provides a method of receiving funds and/or donations to benefit projects or non-profits in the Hannaford Area. The HACF is affiliated with the North Dakota Community Foundation, which is a non-profit tax-exempt corporation under IRS code 501 ©(3) and North Dakota Law. All contributions and bequests received by the Hannaford Area Community Foundation are placed into a permanent endowment fund. Earnings from the fund will be used to support projects or programs in the Hannaford area as determined by a board of local citizens. The North Dakota Community Foundation provides professional management for the Foundation. Gifts are tax deductible to the full extent of Federal and State Law. (Consult your tax advisor for more information).

Outright Gifts: This is a simple, convenient way to donate and receive a maximum tax advantage. Money, securities, or appreciated property may be transferred to the Foundation; and the donor receives a tax deduction based on the value at the time of transfer. The donor will not be subject to capital gains tax on any appreciation. Bequests: Donors may contribute gifts to the Foundation through their will. The will can provide for a stated sum, percentage, or for the residue and remainder of the estate, real or personal. Deferred Gifts: Gifts made in this manner can pay a lifetime income to the donor or his designee. Upon death, the residue of the gift becomes property of the Hannaford Area Community Foundation. Life Insurance: By naming the Foundation as an irrevocable beneficiary of a life insurance policy, donors are entitled to an immediate tax deduction in the amount of the cash value of the policy. Premiums paid thereafter are deductible from income tax. Memorials: Gifts honoring individuals are an appropriate way of indicating one’s care and concern.

If you would like to make a donation to the fund, please mail to: Hannaford Area Community Foundation, Box 23, Hannaford, ND 58448.