The Sparc Endowment Fund, Inc. was established in 1987 to provide a perpetual source of financial support to the individuals served by Sparc, one of the area's most respected community service organizations. Gifts to the fund remain legacies to donors forever because only the interest earned is expended.  Also, donors can specify, if they wish, in what manner the earnings from their gifts are to be used. Memorial or honorary contributions to the fund create lasting tributes to loved ones and forever benefit individuals with developmental disabilities served by Sparc.  All gifts to the fund - cash, real property, stocks, bonds and insurance or estate proceeds are tax deductible, since the fund is a 501(c)(3) not-for-profit corporation. The fund is managed by a volunteer board of directors with extensive financial investment expertise. 

 

Sparc Endowment Fund, Inc. owns and leases to Sparc all of the facilities in which all Sparc day and residential programs are operated. This property ownership allows the endowment to make a substantial annual financial contribution to support Sparc programs.

 

 

Grant Franklin, Treasurer Town and Country Bank    Edward Brooks Prairie Cardiovascular Consultants, Ltd.   Frank Buraski Buraski Builders   .

Sheila Mack Royal Alliance Associates, Inc   Cindy Nagle, Caldwell Banker   Pat Phalen Illinois National Bank   Carlissa Puckett, Secretary Sparc Executive Director

Make a long-term gift that benefits Sparc and you. There is a gift that matches every goal.  Deferred gifts contribute to Sparc’s ability to provide outstanding services for individuals with developmental disabilities -- both today and for future generations to come.  Revocable deferred gifts such as bequests, living trusts, and life insurance can provide you with the maximum security and flexibility in estate planning, while irrevocable deferred gifts such as charitable gift annuities and charitable remainder trusts offer you income payments for life and/or specific tax advantages. Planned gifts give you options for making a gift in ways that may allow you to:
 

 

The mission for Sparc’s planned giving program is to create outcomes that clearly benefit the donor and Sparc -- assist donors in achieving philanthropic goals and to avoid potential significant taxes and help ensure Sparc’s long-term financial stability.  This requires getting to know every active and potential Sparc donor -- philanthropic desires, backgrounds, relevant circumstances, and general financial goals.  When considering a planned gift for Sparc, meeting with a financial advisor, tax expert or estate-planning attorney will be encouraged.  If you’d like to learn more about planned gifts or want to consider making a planned gift, please call Connie DiCenso at 217-793-2206 ext.184

 

Planned Giving

Your Goal Your Gift Making your Gift Your Benefits Defer a gift until after your lifetime Bequest Name Sparc in your will Donation is exempt from federal estate taxes Make a revocable gift during your lifetime Living Trust Name Sparc the beneficiary of assets in the living trust You maintain control of the trust in your lifetime Make a quick and easy gift Outright gift of cash Simply write a check or make a cash donation now Immediate income tax deduction and possible estate tax savings Avoid tax on capitol gains Outright gift of securities Contribute long-term appreciated stock or other securities Immediate charitable deduction and avoidance of capitol gains tax Share your enjoyment of a collection or other personal items Outright gift of personal property Donate tangible personal property related to our exempt function Charitable deduction based on full fair market value Make a large gift with little cost to yourself Gift of life insurance Contribute a life insurance policy you no longer need and/or name Sparc as beneficiary Current income tax deduction and possible future deductions through gifts to pay policy premiums Avoid the twofold taxation on IRAs or other employee benefit plans Gift of retirement assets Name Sparc as beneficiary of the remainder of the assets after your lifetime Allows less costly assets for your heirs Avoid capital gains tax on the sale of a home or other real estate Gift of real estate Donate property to Sparc or sell it to us at a bargain price Immediate income tax deduction and reduction or elimination of capital gains tax Give personal residence or farm now but continue to live there Retained life estate Designate ownership of your home to Sparc but retain occupancy Charitable income tax deduction and lifetime use of residence Create a hedge against inflation over the long term Charitable remainder unitrust Create a trust that pays a fixed percentage of trust’s assets as revalued annually Receive variable income for life and immediate income tax charitable deduction Secure a fixed and often increased income Charitable remainder annuity trust Create a charitable trust or a charitable gift annuity that pays you a set income annually Immediate income tax deduction and fixed income for life, often at a higher rate of return Supplement income with steady payments that are partially tax free Charitable gift annuity Enter a charitable gift annuity contract with Sparc that pays you a set income annually Current and future savings on income taxes and fixed payments for life for one or two individuals Reduce gift and estate taxes on assets you pass to your children and grandchildren Charitable lead trust Create a charitable trust that pays a fixed or variable income to use for a specific term of years.  Principal is retained for heirs Reduces your taxable estate and your family keeps the property, often with reduced gift taxes