Mennonite Brethren Foundation - Donation Accounts

Mennonite Brethren Foundation
P.O. Box 220
Hillsboro, Kansas 67063-0220
800-551-1547
620-947-3266 (fax)
info@mbfoundation.com

Your partner in managing God’s gracious gifts.

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A Donation Account is the holding account for outright gifts given to Mennonite Brethren Foundation to be later designated to the ministry or charitable cause recommended by the donor. Gifts to the fund bring tax benefits in the year given, even though the ultimate charitable beneficiary may be determined at a later date.

MENNONITE BRETHREN FOUNDATION

For where your treasure is, there your heart will be also.
Matthew 6:21

Advantages

• An end-of-tax-year gift may be made while deferring the decision as to who should receive the gift.

• In a high-income year when a maximum income tax deduction is needed, an individual can make a larger than usual gift and maintain a consistent level of giving during lower income years.

• A fund may be built up for a special project with periodic small gifts and distributed only after the account has reached the amount desired to give for that special cause - or the fund may be converted into a permanent endowment.

• The donor may establish a “gift emergency” account that allows for a special response to needs in addition to their regular, systematic giving.

• The donor may desire anonymity – the Donation Account can facilitate anonymous gifts!

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Distributions

The Donor recognizes and acknowledges that this is a request to establish a donor-advised fund with Mennonite Brethren Foundation consistent with charitable gift rules established by the IRS. Nothing contained herein shall be construed to the contrary, and all requests made by Donor shall be advisory only.

Disbursements to any tax-exempt church or charitable cause may be made by notifying our office in writing or through a telephone call of your recommendation. We will disburse the funds after verifying the chosen charity is a fully qualified tax-exempt organization and its purposes are consistent with the charitable purposes of Mennonite Brethren Foundation. All disbursements will be mailed directly to the charity unless we are instructed otherwise.

The charity will be notified which donor made the gift possible, unless we are told the gift should remain anonymous.

The minimum disbursement to any one charity is $100 per transaction.

Even though Mennonite Brethren Foundation encourages disbursements to Mennonite Brethren organizations, disbursements may be made to any 501(c)(3) organization not engaged in work that is contrary to the mission and purpose of Mennonite Brethren Foundation.

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Fees

Funds held for less than 30 days will be charged a 0.50% transaction fee per distribution.

Funds held for more than 30 days will not be subject to any fee.

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Investment

Accounts with a balance over $10,000 may receive interest on the balance over $10,000 at our current Demand Certificate rate. This option must be requested by the donor and is not automatic.

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Reporting

A Statement of Activity will be mailed quarterly to the donor.

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Gifts may be in the form of cash, real estate,
securities, farm commodities or other property and may be used to benefit a number of ministries. The property is converted to cash and disbursed as designated by the donor. Capital gains tax or ordinary income tax may possibly be avoided.