Making your charitable contributions through The Luzerne Foundation offers many advantages.
Simplicity – Your community foundation is your “one-stop shop” for all of your charitable giving needs. It’s an easy and effective way to support the groups and issues you care about through a gift to a single organization.
Tax Benefits – Gifts to your community foundation receive the maximum tax advantages for income, gift and estate tax purposes.
Flexibility – Your community foundation can receive many kinds of gifts, including unique assets such as gifts of grain, livestock and collectibles. The Luzerne Foundation can help you and your financial advisor develop a gift plan to meet your personal financial needs and all of your charitable intentions, now and in the future.
Effective Leadership – The Luzerne Foundation adheres to the highest standards of professional excellence. We are confirmed in compliance and have met the Council on Foundations National Standards for operational quality, donor service and accountability in the community foundation sector.
Objectivity – Your community foundation distributes charitable dollars and is not the end user. Unrestricted funds are used to support the community’s most important needs and opportunities, while other funds established by donors are designated to benefit our donors’ favorite causes. Our sole objective is to facilitate philanthropy and further develop a habit of giving back to community.
Stewardship – There is always a chance that a nonprofit organization’s mission or leadership may, over time, change significantly. The Luzerne Foundation can help our donors respond to these changes. Where donors have established permanent endowments with us, we can help to assure that if such changes do occur, the funds are reallocated according to the donor’s original intent.
Recognition or Anonymity – You may choose to receive public recognition or remain completely anonymous.
Professional Management –There is no charge for establishing a fund at The Luzerne Foundation. Generally, funds managed by the Foundation experience two types of expenses, an investment management fee and a community participant contribution, which are taken from a fund’s principal account. The annual expenses range from 1.25% to 2.00% based on the type of fund and level of administrative duties requires. All fees are annualized and accepted quarterly (January 1, April 1, July 1, and October 1) based on the prior three month average fund balance.
The foundation’s general endowment portfolio is a broadly diversified pool of investments combining equities and fixed income. As a participant in our general endowment portfolio, a fund qualifies for the lowest available investment management fees paid directly to the professional money managers retained by The Luzerne Foundation. This fee applies to funds currently placed at M&T Bank, Smith Barney Group, PNC Advisors, Charles Schwab & Co, Berkshire Asset Management, Pennsylvania Trust Company and National Penn Trust Company.
In addition, The Luzerne Foundation automatically accepts a community participation contribution in lieu of an administrative fee. This required contribution may vary depending on the size and type of fund established. Please note: this contribution allows the Foundation to assist you provide comprehensive administration of all aspects of your fund, which include but are not limited to; audit, fund statements and reports, processing and confirmation and documentation of all contributions and distributions, etc. This contribution also assists The Luzerne Foundation in fulfill its broader mission as a community resource and facilitator to help improve this community for all.
Accountability – An annual independent audit ensures fiscal responsibility.
Permanence – The Luzerne Foundation was established in 1996 and has experience continued substantial growth. Your outright or deferred gift will last forever when it is given to The Foundation. Assets are invested to generate an ongoing source of income year after year and your legacy will last forever.