Donors to an Organization Endowment can be assured that if this particular agency is dissolved, the CFWI will use their donation for the nearest possible use. Appreciated securities are stocks or bonds with a current market value higher than the original purchase. Donating the stocks or bonds at a higher market value creates a larger charitable tax-deduction for the donor without paying capital gains taxes on the appreciation in value over cash. Closely Held Securities are stocks or bonds that are not traded publicly and are held by a small group. Because the donor places no restrictions on these funds, they can be used for any purpose the CFWI Boardmembers deem appropriate.
Most community foundations prefer unrestricted gifts because of the flexibility they afford.
The Boardmembers may use them to meet needs that were not identified at the time of the gift such as responding to a natural disaster or funding an innovative program. Community Foundation of Whidbey Island does not exist as yet. We are only in the initial stages of launching this project.