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MACF Pinecone Funds
In honor of the Midland Area Community Foundation's 25th Anniversary in 1998, a new option for donors was developed. Those who wish to establish an endowment fund may arrive at the $5,000 minimum over a five-year period of time.
Donors simply sign a document agreeing to the establishment of a "Pinecone" Endowment Fund. This is a commitment to donate at least $1,000 per year for five years to the Unrestricted Endowment Fund at the Midland Area Community Foundation. Upon completing payment of the $5,000 pledge, the Foundation would open an endowment fund for that donor (purposes to be determine by the donor), placing in it the $5,000 which had been contributed to date. Accrued earnings (or losses) would remain in the Unrestricted Endowment Fund.
If for some reason the donor is unable to complete his or her pledge, the dollars donated to that point would remain in the Unrestricted Endowment Fund and the "Pinecone" Endowment Fund agreement would be null and void.
The "Pinecone" Endowment Fund is a seed-bearer, just like the pine cone for which it is named. This is a relatively easy way to "grow" a new endowment fund using tax-advantaged giving to provide a lasting gift to the community.
If you are interested in establishing an endowment fund within the foundation, please give us a call. We look forward to hearing from you!
Current MACF Pine Cone Funds
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Davis Family Scholarship Fund |
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Christian and Jenee Velasquez Family Fund |
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Jack H. Redman Memorial Scholarship Fund |
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Gustav Dan Hobohm Merrill's Mauraders Fund |
Contributing to A Pine Cone Fund
Due to the nature of this fund, it is not possible to make a donation over the Internet. However, if you are interested in contributing to a Pinecone Fund, please call the Foundation at 989-839-9661.