Lieutenant Colonel Michael T. Rainbolt, USA, Ret.
Donor Advised Funds make gifting a breeze!
Lieutenant Colonel Michael T. Rainbolt, USA, Ret., built his career in the military like his father before him. Today, his passion is to support veterans, military families and future leaders in the ROTC.
With those goals in mind, Mike established a donor-advised fund (DAF) with Benton Community Foundation. Through his DAF, he supports organizations that serve veterans, camps for children of military families, and ROTC.
Granting from his DAF is easy, Mike simply emails BCF a grant request; BCF does all the work, and the recipient receives a check in the name of Mike’s fund.
By establishing a donor-advised fund, Mike can give to a cause he’s passionate about. You can do the same.
BCF supports the Boys & Girls Club of Corvallis
Charitable IRA Rollovers and Appreciated Securities
Individuals age 70 ½ and older may make IRA Charitable Rollover gifts up to $100,000 per year without incurring tax on the withdrawal. This benefit is available to all taxpayers regardless of whether they itemize their deductions. If you are required to take an annual minimum distribution (AMD), but do not need the income, consider rolling your AMD over to BCF!
Contributing appreciated securities is another tax-efficient way to give. “Appreciated securities" include stocks, bonds and/or mutual funds which you purchased more than one year ago and which now have a value greater than you paid for them. Since the securities are donated rather than sold, you pay no capital gain taxes and you receive a tax deduction for the full fair market value of the securities up to 30% of your adjusted gross income.
Marty Carrol received dentures thanks to the Lagestee Initiative
What legacy will you leave to your community?
Harry and Lorraine Lagestee came from humble beginnings. In 1952, Harry was laid off from his job. The family was down to their last few dollars when he landed a good job at a lumber mill in Eddyville. Later, the family purchased BAMM Hardware in Philomath.
The Lagestees were fortunate, and during their lifetimes, they shared their good fortune by supporting their community. In 2014, BCF launched the Lagestee Initiative, made possible by a generous bequest from the Lagestee estate. The goal of the initiative is to close the gaps in service for at-risk families in Philomath, Blodgett, Alsea and Summit.
Harry and Lorraine Lagestee left a legacy of support to their community. You can do the same.