LIVONIA COMMUNITY FOUNDATION

Taking Care of the Future Today

-        an investment in Livonia 's Future

Ø     The Foundation is a permanent endowment ‑ a trust fund.

Ø     The Foundation is built by Citizen & Corporate donors:

Individuals, families, estates, corporations, & private organizations

Ø     The Foundation supports, through monetary donations, Livonia 's charitable, cultural, historical, educational, and recreational institutions:

•  Greenmead & Wilson Barn

•  Libraries & Educational Programs

•  Livonia Symphony, the arts & performing arts

•  Senior Citizen needs & Youth Programs

•   Livonia Parks & Environmental Programs

 Ø     The Foundation is an approved 501(c)(3) charitable organization.

 Ø     The Foundation is State of Michigan Certified ‑ # 55.

 Ø     The Foundation's assets are conservatively invested under strict State and Federal laws ‑ the return on investment is used to support the Foundation's programs & commitments.

 Ø     Your donated dollar ($) gives over and over again as the endowment grows and earns a return year after year.

Ø    Contributions are federally tax deductible and can receive as much as a 50% credit against Michigan Income Tax.

In 1994, the State of Michigan encouraged formation and support of community foundations by providing income tax incentives to both individuals and businesses. The Livonia Community Foundation was chartered in 1995 for the purpose of building and administering an endowment fund, and to seek contributions to grow that fund. The earnings (interest, etc.) on that fund must be used to support and foster Livonia’s own cultural, historical, educational, and charitable needs. Following its first full year, the endowment balance in December 1996 was $32,000. This endowment grew to $386,000 in December 2001, and as of this year is is over $650,000. The number of contributors has grown each year, and now includes more than 750 Livonia families, individuals, and businesses.

The State of Michigan provides a significant tax credit incentive to encourage contributions to local foundations. The tax credit is equal to 50% of your contribution up to a $200 credit for joint taxpayers, and $100 for individual taxpayers. For example, if you contribute $400 to the Foundation, you receive a tax credit of $ 200. A tax credit means you reduce your state tax payment. The community foundation state tax credit is a separate credit, and is in addition to any other tax credits you may receive for contributions to schools and libraries. Your contribution is also eligible as a charitable deduction to the Foundation with a much reduced real dollar cost to you.

Securities, property, and other owned assets may also be donated, and they may provide additional tax and/or estate planning benefits. Please call the Foundation at (734) 522-2285, and we will provide additional information. The foundation also receives Contributions from local businesses, which are eligible for a unique, state single business tax credit.