In 1989 the economy was booming, money from governmental programs was plentiful, and very few human service organizations were saving for their future. Challenge, however, was fortunate to have a group of forward-thinking individuals create an endowment fund to ensure the long- term fiscal stability of the organization. To appreciate what an innovative idea this was, consider that few organizations even had an annual fund, let alone an endowment!
With the goal of $1,000,000, the Founders Association was formed and worked tirelessly to add to the endowment. To date the fund stands in excess of $1,000,000 and continues to grow each year. In today’s economy, a striking contrast to that of 1989, a healthy endowment fund is more important than ever.
Critical to the success of the Endowment Fund is Challenge’s Planned Giving Program. A planned gift is a way to give, and receive, by supporting the good work of qualified charitable organizations like Challenge. Planned giving can be part of a total financial plan for you, while providing a vital source of funding for Challenge. By including Challenge in your estate plan, you can significantly support an organization that is important to you while retaining benefits for yourself.
Planned giving is the best way to maximize your tax benefit through charitable donations such as cash, securities, bonds, stocks and certain types of property. By incorporating a charitable bequest, trust, annuity or insurance policy into your financial and estate planning you can help others while reducing your taxes. Please consult your tax advisor.