A Community of Giving
Support the Arts!
What is the Endowment Fund?
An endowment is a fund that provides long-term support for a particular nonprofit organization in perpetuity.
Think of an Organizational Savings Account or a Rainy Day Fund!
The Crossroads Board started an endowment fund in the 2000s. Your gifts have been saved in a local bank savings account all this time. This year, the Crossroads Board instructed the Executive Director to move the Endowment Fund of $20,911.61 to Vision Wealth Management to a higher-yield account.
Per policy, once the Crossroads Endowment Fund reaches $100,000, the Crossroads Board can decide to reinvest the interest or use it to address a critical need of Crossroads. Our investments and Endowments are monitored by the Crossroads Board of Directors.
Did you know? You can donate to the Endowment for a Specific Program-say the Scholarship Fund! Annually, the Board will take the Interest generated from your gift or the specific amount you request each year to make an impact!
Make a direct donation today to help with the Endowment Fund at Crossroads.
We thank Bryn and Robin Crowell, who, over the last few years, have donated stocks from their portfolio to Crossroads. This is held in a brokerage account we also maintain at Vision Wealth Management. This remarkable gift has been a massive infusion of resources into our endowed fund.
You can contact Vision Wealth Management directly at 541-523-0900, and they can assist you in making your donation!
Give the Gift of Stock!
Suggestions from Sarah Hutchinson with Kristin Colton Accountancy
State of Oregon Estate Tax
"The state of Oregon has estate taxes due for all estates over $1 million. Anything that is donated to a qualified nonprofit organization during your life, or upon your death, is excluded from your estate, thereby decreasing the tax liability for your heirs. If you can reduce the total estate to under $1 million, there will be no estate tax due. This can be achieved by either designating in your will that you want certain assets donated upon your death, or by setting up a charitable trust while you’re living."
Donations of Art Supplies/other tangible items
"Donations to a nonprofit organization are tax-deductible when you do not receive any goods or services in exchange for the donation. If any goods or services are received (for example, if you purchase an item at a fundraising auction), then the difference between the amount given and the fair market value of what was received is tax-deductible."
Donating Stocks and Bonds
"Donations of stocks or other property that have appreciated in value since you owned them have multiple tax benefits for you. By donating those appreciated stocks or property instead of selling them and donating the cash, you avoid paying capital gains tax on the increased value. You get a tax deduction for the fair market value at the time of the donation, which means you save taxes and can donate more!"
IRA's and RMD
Can you gift your Required Minimum Distribution from your IRA to Crossroads and pledge it towards the endowment? There might be tax benefits, so speak with your advisor.
"Anyone who has a traditional IRA and is age 70 ½ or over can donate up to $105,000 in 2024 ($108,000 in 2025), as a qualified charitable distribution. This is a direct donation of funds from your IRA to the selected charity, and the amount taken out is not included as taxable income. A qualified charitable distribution can be used to satisfy the annual required minimum distribution (RMD) amount. This is a really great option for anyone 70 ½ and over who has a traditional IRA and makes any contributions to charities, regardless of the amount."
Thank you to the late Cristina Simoni, who left Crossroads a house on 4th Street, which was sold to help our programs.
Want to leave Real Estate to Crossroads? Work with your legal counsel.
Our Executive Director regularly assists patrons in filling out the paperwork to list Crossroads as the beneficiary on specific accounts. The balance of these accounts will automatically be sent to Crossroads upon their passing.
This is an easy option that keeps your money available to you.
Crossroads was honored when International Artist Obie Simonis and his wife, Jacki, gifted Crossroads the funds to create the Barbara Wilbur Family Fund Artist Award, which is given annually at our September Open Regional show. This award honors Obie's late mother, Barbara Wilbur, a beloved Baker County Artist. Their 10-year commitment to local artists is transforming lives.
Like Obie and Jacki, some donors want to see their gifts impact Crossroads. Please consider making a gift now!
If you want to leave a gift to:
- Hand-to-Heart Scholarship Fund
- Crossroads Pottery Program
- General Operations
- Create an award for artists
Contact Ginger Savage to set up a meeting.
Next Steps:
This is new work for Crossroads, and as we move forward, this type of legacy giving will stabilize Crossroads' budget for years to come.
This is a conversation for EVERYONE! There have been times in the past when a $1000, $200, or even $50 gift came at a time when Crossroads really needed it to fulfill our mission. It will take all the gifts we can get in the short term and in the long term to make sure we are protected.
I truly appreciate your consideration, and if you want to chat with me, please reach out at ginger@crossroads-arts.org or call me at 541-523-5369.
Thank you, Ginger Savage, Executive Director
