As one of over 700 community foundations in the country, The Troy Foundation provides Troy with an ever-growing permanent resource to help meet the changing needs of the community, both now and in the future.
Through the Foundation, donors are able to make gifts or bequests of any size to accomplish their charitable objectives. Virtually any charitable purpose may be accommodated through the Foundation on behalf of any individual donor or nonprofit organization, to further carry out their philanthropic goals. Since 1924, The Troy Foundation has assisted donors in meeting their charitable goals. Together with our donors, we have granted more than $57 million to nonprofit organizations helping to meet the ever-changing needs within our community. Through our family of over 200 funds, the Foundation continues to enhance our community by supporting area organizations, providing scholarships to young people, and by working with individuals and businesses to ensure that charitable dollars remain here to improve the quality of life of the people we serve.
Ways to contribute
There are many ways to contribute to The Troy Foundation. You may wish to donate to an existing fund whose purpose matches your charitable goals, or to create your own fund to fulfill an unmet need or service within the community. There are many different types of funds within the Foundation, all with the same goal in mind, to address the many different needs in our community.
Unrestricted Funds are the most flexible because they are not limited by donors to any single purpose. They allow the Foundation to be responsive to the changing needs of the community.
Donor Advised Funds offer active participation in the grant process by allowing donors to suggest charitable beneficiaries. They afford all the advantages of a private foundation but with greater tax benefits and none of the personal administrative tasks. Field of Interest Funds support causes of particular interest to donors, such as health or human services, education, or the arts. Designated Funds benefit specific charities of the donor’s choice.
Scholarship Funds are an ideal way to establish a permanent legacy in memory of a loved one or to honor family or friends, as well as giving a deserving recipient a springboard for achieving educational goals.
Organizational Endowment Funds are established by nonprofit organizations to assist them in planning for current and future needs.
In addition to the specific categories listed above, there are other ways to assist The Troy Foundation in meeting the ever-changing needs of the community. For example, if you already have established a private foundation, we can work with you to transfer it to The Troy Foundation to eliminate your need to manage such an entity. This is especially helpful when family members become scattered, but wish to maintain local giving. The Troy Foundation will help to preserve the identity and purpose of the original private foundation, while working with family members as they continue as advisors to the fund.
Appreciated property, such as real estate and securities may also be donated. These can be given to The Troy Foundation for a tax deduction at full fair market value and free of capital gains and estate taxes. If the contribution exceeds your gift limitation, you may avail yourself of a carry-forward for future tax years.
Finally, you may wish to include The Troy Foundation in your estate plan. Although you may designate almost any charitable purpose, you may wish to consult the Foundation about the language of your bequest so that we can ensure that your charitable goals will be met long after you are gone.