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Designated Gifts are gifts for a specific purpose. Your tax deductible gift can be designated for the Capital Fund, Endowment or the yearly Operating Fund.
An undesignated contribution to Comprehend may be applied by Comprehend to any fund or purpose of the organization.
Wills and bequests, annuities and charitable remainder trusts can be for a designated purpose or given freely, without designation. Please consult your financial advisor regarding bequests, annuities and trusts, to be sure your wishes are clearly stated and carried out.
Comprehend's budget is, for the most part, operating expenses and the income to cover those expenses. There is another whole category of expense that doesn't cover operating cost.
The Capital Fund is money set aside for the big expenses, like our recent repaving of the parking lot behind our Forest Avenue office Building. The Capital Fund is for the really big projects such as additions and or renovaitons to existing buildings to accomodate our growth.. What happens next? Time will tell.
But your gifts to the Capital Fund give us the resources to consider what to do next.
An Endowment Fund is set up by a non-profit such as Comprehend to receive designated gifts.
Donations to the Endowment Fund provide ongoing support for Comprehend, since the gift is invested, and only the earnings from those dollars donated are used, usually for the operating fund or other purposes designated in the gift or by the receiver of the gift.
Gifts to Comprehend's Endowment Fund keep giving, year after year!
This fund pays the nuts-and-bolts, day-to-day expenses of having a community mental health and substance abuse agency in all five counties of the Buffalo Trace region. This is the fund that pays the light bill, staff salaries and all those un-glamourous, absolutely necessary basics that make it possible for Comprehend to serve 4,600 residents in our region.
Does the Federal and State government cover all our operating expenses? Not really. In fiscal year 2011-2012, we had to find 2.1 million dollars to pay for services to Buffalo Trace citizens who had no way to pay and no insurance or other coverage to help them out.
That's why the Operating Fund can be a target for your charitable gifts. You can help us to make up the difference between what we are able to squeeze from the Federal and State allocations, and the actual cost of operating Comprehend as a resource for our whole community!
As you contemplate the reasons for your will, please consider a bequest to Comprehend, Inc. to help perpetuate its goals. In a bequest to Comprehend, Inc, you may be very specific in your wishes. You may designate your gift to a special program area; or you may choose to direct your gift in a general way to "the area of greatest need." Comprehend will honor your wishes.
Directives in your will clear the way for prompt and inexpensive transfer of your possessions. If your choices and decisions are not expressed in your will, your state’s laws will attempt to protect and provide for your dependents. The law must deal with these situations in a prescribed manner; no special considerations are given.
Your will states your wishes. Those who survive you and will have the responsibility of settling the matters of your estate are much better equipped to do so with specific instructions. You minimize conflict, confusion, decision struggles and family disruption by documenting your desires and plans legally.
Your will can create a plan that will pay income for life to those you name and then give any remaining amount to charity, accomplishing several objectives through one plan.
What is an Annuity? What is a Charitable Remainder Trust?
Both these financial instruments offer ways to lower the tax burden on your heirs, and offer benefit at the same time to a non-profit organization like Comprehend, Inc.
Thank you for supporting Comprehend. Your generious contribution hleps Comprehend to building stronger communities and create healthier lives.
Vice President of Business Development & Marketing
611 Forest Avenue
(606) 564-4016 ext. 2748