Fleetwood Circle
Crossroads Legacy Giving
O
The Fleetwood Circle was named after founding member and former Children's Librarian
Leona Fleetwood.
The Fleetwood Circle allows donors to leave larger gifts to help Crossroads fulfill our mission.
The Impact of your Generosity
Support Crossroads and the Arts!
The 2025 Challenge
Crossroads Carnegie Art Center is reaching out to our members, donors, and community and asking for your support for a unique challenge facing the Art Center.
Crossroads Carnegie Art Center had a remarkable year with Art Shows, a revitalized Arts Education program, including our busy pottery studio.
Our new partnership with the National Historic Oregon Trail Interpretive Center and the Bureau of Land Management as their new Friends Organization is going strong!
Sales at the Lone Pine Mercantile Gift Shop are excellent, and we are fulfilling the gift shop's mission of supporting local makers and businesses by providing quality products.
Our challenge:
Our insurance carrier has notified Crossroads that our "Business Personal Property" at the Interpretive Center (inventory, fixtures, computers, etc.) cannot be insured due to the underwriter's concerns about potential fire danger on Flagstaff Hill.
We continue to search for insurance but are told that will be a challenge. If it can be found, at what cost?
All Eastern Oregonians must be prepared for insurance challenges that will continue as we grapple with fire losses.
The Need
What does this mean?
It means that if there were to be a catastrophic event at the Interpretive Center, none of the inventory or fixtures in the Gift Shop would be insured and would likely be a total loss to Crossroads.
This would be a massive blow to Crossroads if it were to occur.
Rest assured, Crossroads on Auburn in the Carnegie Library is insured and protected!
What can be done?
The Crossroads Board of Directors and staff met and have had numerous conversations with stakeholders, but we must mitigate any risk to the organization.
NOW!
The Board proposes that we grow the Crossroads Endowment Fund, creating our own "self-insurance" program.
We are asking for your support to build our Endowment Fund to at least $100,000.
So if the worst happens, we have saved the funds to protect the organization.
If Crossroads never experiences a catastrophic loss at our gift shop (and let's hope it never happens), then Crossroads' Endowment fund will continue to grow and provide financial stability for the long-term success of our mission.
What is the Endowment Fund?
An endowment is a fund that provides long-term support for a particular nonprofit organization in perpetuity.
Crossroads Board started an endowment fund in the 2000's, per records. Your gifts have been saved all this time in a local bank savings account. 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.
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.
Per policy, once the Crossroads Endowment Fund reaches $100,000, the Crossroads Board can decide to reinvest the interest or use the interest for a critical need of Crossroads. Our investments and Endowments are monitored by the Crossroads Board of Directors.
Currently, as of September 30, 2024, Crossroads has $49,994.62 (cash or stock value) in the Endowment Fund and other dedicated funds.
Start Today!
Make a direct donation today to help with the Endowment Fund at Crossroads.
Click on the "visit our website" button and donate to the Endowment Fund. You can do a one-time, monthly, or annual pledge gift.
Speak with your Attorney!
Consider leaving a gift to Crossroads in your will or estate. By working with your attorney and accountant, you can set up specific gifts from your estate, bequeath property, or other assets. You can designate which program you would like it to support.
Like the late Cristina Simoni, who left Crossroads a house on 4th Street, which Crossroads sold to help our programs.
"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."
-Sarah Hutchinson, Kristin Colton CPA Accountancy
It Can Be So Easy!
Our Executive Director regularly assists patrons in filling out the paperwork to list Crossroads as the beneficiary on specific accounts such as savings or retirement plans. The balance of these accounts will automatically be sent to Crossroads at their passing.
This is an easy option that keeps your money available to you.
Donating Stocks & 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 & 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 that has a traditional IRA and makes any contributions to charities, regardless of the amount."
-Sarah Hutchinson, Kristin Colton CPA Accountancy
Crossroads has created a simple form for you to fill out or simply review with your family and advisors. Any information you share with Executive Director Ginger Savage is strictly confidential.
There is also the option of issuing a "Challenge" to our community. This means that if you would like to gift Crossroads a sum, either using your name or anonymously, we could then, with your permission, challenge our community to match that sum within a certain amount of time. If you are interested in this, please email ginger@crossroads-arts.org.
Our hope is to receive financial donations or pledges within the next 12 months so that we can be confident Crossroads is protected.
Rest assured, should the need arise, you can change your mind about your estate or will.
Other way to Help!
If you want to leave a gift to:
- Hand-to-Heart Scholarship Fund
- Crossroads Pottery Program
- General Operations
- Create an award to artists
Contact Ginger Savage to set up a meeting.
We thank Obie and Jackie Simonis, whose recent gift created the Barbara Wilbur Family Fund Award for Crossroads' "Art at the Crossroads: September Open Regional Show."
This gift allows Crossroads to award a $1,000 Cash Prize to an artist every year for 10 years.
These funds are dedicated to this mission and are inside of our investment accounts.
Crossroads recently received the Art Estate of the late Richard Murray. Mr. Murray's donated art supplies will provide materials for a wide variety of classes here at the art center.
We often receive donations for art or craft-making supplies, and we utilize what can be used for kids or senior classes. Anything left over will be distributed to those who can use the materials.
Crossroads cheerfully accepts office supplies, bathroom cleaning supplies, toilet paper, paper towels, and healthy snacks for kids. If unsure, give us a call at 541-523-5369.
"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."
-Sarah Hutchinson, Kristin Colton CPA Accountancy
One Last Reminder!
"For Oregon residents, an extra tax benefit exists for making matching contributions to the Oregon Cultural Trust. If you donate to an arts or humanities nonprofit organization, such as Crossroads, and then make a matching donation to the Oregon Cultural Trust, you get a tax credit for 100% of your donation to the Oregon Cultural Trust (up to $500 for single taxpayers and up to $1,000 for married filing joint taxpayers)."
-Sarah Hutchinson, Kristin Colton CPA Accountancy
Next Steps:
I know I have thrown alot of information at you in this email. Some of you may have already done this financial planning, so you are already well-versed.For others, this is a place to start a conversation with your accountant, lawyer, or banker. 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
