Old North End Fund
In 2004, ONEN established an Organizational Endowment at the Pikes Peak Community Foundation. This fund is used to benefit the Old North End Neighborhood as administered by the ONEN Board.
The Pikes Peak Community Foundation invests the funds, as it does for its other assets. At the discretion of the Foundation’s Board of Directors, funds from the endowment can be distributed annually to ONEN. Typically, the annual distribution, set by the Foundation’s Board of Directors, is five percent of the value of the endowment.
These distributions are used to support the activities within the Neighborhood. As the endowment fund grows over time, both through appreciation and additional gifts, the ONEN will benefit with increasing cash flow to support our various programs and enhance our Neighborhood’s quality of life.
Individuals can make outright gifts to our fund. Such a gift will provide a charitable income tax deduction in the year of the gift, reduce the gross estate of the donor for estate tax purposes, and avoid capital gains taxes (on the increase in value over your cost basis) for gifts of appreciated property. Gifts may also be made by will. A testamentary gift can significantly reduce the potential federal estate tax burden as well as any state tax due at the donor’s death. The Fund may also be named a beneficiary of a Qualified Retirement Plan, an IRA, or a life insurance policy. There are many other opportunities to contribute and one should consult professional advice.
The Old North End Neighborhood Fund at the Pikes Peak Community Foundation is a simple, flexible and inexpensive alternative to build permanent endowment funds that can benefit our Neighborhood.
If you think you may be interested in making a lasting gift to the neighborhood through the ONEN Fund, the staff at the PPCF is available to provide free consultations. They have sophisticated software that includes the latest updates from the IRS. They can provide up-to-date philanthropic counseling about tax advantages, methods of giving, or other more complex strategies for charitable giving. Pikes Peak Community Foundation can be reached at 719.389.1251
