Fayetteville Area Operation Inasmuch Endowment (created by the board of FAOIAM)
Friends of Fayetteville Area Operation Inasmuch Endowment (created by a friend of FAOIAM)
These endowment funds are managed by Cumberland Community Foundation, Inc. (CCF).
You can add any amount to either fund, or create one of your own!
What is an Endowment?
It is a permanent fund that provides annual support to FAOIAM. An endowment serves a similar purpose to the type of savings your family keeps in a savings account; however an endowment lasts forever to insure that a regular stream of support is available to FAOIAM year after year.
How Does An Endowment Work?
You make a gift to an endowment fund. CCF invests the gift. Each year CCF distributes a grant from the endowment fund to FAOIAM. The principal is never spent, only a percentage of the income, so your gift stays invested and lasts forever.
- Endowments can be designated for general use or you can restrict its use for a specific purpose.
- Endowments are often established to honor the memory of a family member or loved one. These endowments live forever because only the income is used annually.
- Making a gift is a simple and convenient process with a number of options.
- Endowments can receive gifts of all types during and after your lifetime: cash, securities, real estate, specific items such as jewelry, a gift in your will (designated amount, specific items or a percentage of your estate), or being named as a beneficiary of an insurance policy.
- You can make your gift in memory of or in honor of a loved one, simply send a note with your gift.
To make a gift today, it’s simple, just make your check payable to Cumberland Community Foundation for the Fayetteville Area Operation Inasmuch Endowment, and mail it to CCF, PO Box 2345, Fayetteville, NC 28302.
To leave a gift in your will directly to FAOIAM, use this sample wording:
I, (your name) of (city, state, Zip) give, devise and bequeath to Fayetteville Area Operation Inasmuch [Describe the amount, percentage of estate, residual estate, or other description of property] for its unrestricted use’.
To leave a gift in your will to an Endowment for FAOIAM, sample wording is:
I give, devise and bequeath to Cumberland Community Foundation, Inc., a North Carolina nonprofit corporation (the “Foundation”), [Describe the amount, percentage of estate, residual estate, or other description of property], as an addition to the Fayetteville Area Operation Inasmuch Endowment of the Foundation.
oor (for a new fund):
FAOIAM and Cumberland Community Foundation do not provide legal or tax advice. The language above is an example only. Please consult your own legal advisor. Your specific estate planning needs may affect the wording of your bequest.