The Hockley County Endowment exists to help people who care about the Levelland area to invest – at any level – in its future. As the community endowment for Hockley County, it provides a vehicle for individuals, families, businesses and organizations to establish permanent charitable endowments for the benefit of this area.
Leave More than Money. Leave a Legacy.
Because of its affiliation with the Community Foundation of West Texas, it is designed to save local philanthropists both time and money. Its basic appeal to donors is its flexibility, economy and ease of use.
The Endowment provides every donor with a simple, powerful, and highly personal approach to giving. We offer a variety of giving tools to help people achieve their charitable goals. You can make a gift of cash, stocks, bonds, real estate, or other assets. Most charitable gifts qualify for maximum tax advantage under federal law.
Each donor has a unique giving experience, tailored to suit his or her situation and goals. Here are the basics — how you can grow a current fund or create your own fund as a part of the Hockley County Endowment. For more information, please contact the Community Foundation of West Texas at firstname.lastname@example.org.
- You make a gift to the endowment through a cash gift, online donation, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name, in the name of your family or business, or in honor of any person or organization you choose. It is up to you.
- Based on the type of fund you establish, you decide how much you want to be involved in the good works your gift makes possible. You can recommend an area of interest or organization you’d like your gift to support, or rely on our experienced program staff to determine and address the areas of greatest need in our community.
- You receive tax benefits in the year your gift is made.
- Our board issues grants in the name of the fund you establish (if you prefer, grants can be made anonymously).
- We handle the administrative details.
- Your gift can be placed into an endowment that is invested to grow over time. Earnings from your fund are used to make grants addressing community needs. Your gift – and all future earnings from your gift – is a permanent source of community capital, helping do good work forever.
Timely Opportunities for Giving
- Year-end tax planning: Just earned a large bonus, but no time to decide on the most deserving charities? Establish a Donor Advised Fund for an immediate tax deduction, and stay involved in your gift by recommending distributions for months or years to come.
- Simple alternative to private foundations: Thinking about establishing a private foundation, but looking for a better, simpler way? Or, frustrated with the ongoing management of your private foundation? Establish a Donor Advised Fund or Supporting Organization and stay personally involved with the distribution of gift dollars. Use the Foundation to handle the administrative and accounting chores.
- Strategic giving: Passionate about meeting a specific community need and want to make a meaningful gift? The Foundation staff uses expertise in local needs to recommend ways to make the greatest impact.
- Sale of a business: Own highly appreciated stock in a company that is about to be acquired? Structure a charitable gift of stock before the company is sold to reduce capital gains and increase charitable deductions and establish a Donor Advised Fund.
- Closely held stock: Personal net worth tied up in a closely held company, but want to give back? Donate a portion of the company stock to the Hockley County Endowment; the company may buy it back for fair market value. Establish a Donor Advised Fund or planned gift; you are eligible for a tax deduction at the fair market value of appreciated stock (less any planned gift value).
- Preserving an estate: Estate planning identifies significant taxes going to the IRS, but you want to keep tax dollars local. Reduce your taxable estate through a charitable bequest or other planned gift. The gift creates your personal legacy that stays true to your charitable intent forever.
The Legacy Society
Your planned gift to Hockley County Endowment will have meaning and impact for years to come. We honor those who have made a lasting commitment by including charitable gifts in their estate plans through the Legacy Society.
Your planned gift to the Community Foundation of West Texas will have meaning and impact for years to come. We honor those who have made a lasting commitment by including charitable gifts to the foundation in their estate plans.
Those who remember the foundation through a will, trust, designation or other planned gift, are invited to join in the community foundation’s Legacy Society. Too often, these gifts are unrecognized because they come at the end of the donors’ lives. The Legacy Society provides a way to recognize and thank donors during their lifetimes.
Involvement in the Legacy Society gives you the opportunity to enjoy the company of others who, like yourself, care about leaving a legacy to protect and strengthen this community. Members are invited to all Foundation events and are recognized in Foundation publications and on our website.
You may always choose to remain anonymous in your philanthropy with the Community Foundation of West Texas. However, participation in the Legacy Society can be an inspirational experience, and may encourage others to look toward the future and how they too may have an enduring impact on the causes they care about.
Only a statement of intent to leave a gift to the Community Foundation of West Texas is required. No documentation of gift amount or type is necessary. Legacy Society members may designate the use of the distributions from their future gifts, or may leave the distributions to the discretion of the Community Foundation of West Texas Board of Directors. A Legacy Society gift may be used to establish a new fund or may be added to any of the Foundation’s existing funds.
There is so much more we’d like you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact the Community Foundation of West Texas at email@example.com.