It’s a fact that charitable donors prefer to give to those causes closest to home to improve the lives of those in their own local area. To help residents in Yazoo City and Raymond, Methodist Senior Services (MSS) recently created two new endowment funds at the Community Foundation for Mississippi that will allow donors to give directly to help senior residents at its local senior communities.
These funds – one for Riggs Manor in Raymond and Martha Coker Green House Homes in Yazoo City – go into an interest-bearing account, and the proceeds help cover the costs for residents who have outlived their funds through no fault of their own.
As endowment funds at a qualified community foundation in Mississippi, donors can get a tax credit equal to 25 percent of their gifts from Mississippi state taxes through Endow Mississippi, a state tax credit program that offers an incentive to encourage individuals, businesses and organizations to make lasting investments in their local communities through charitable giving. The minimum qualifying gift is $1,000.
“In our 60-year history, we’ve never had to turn any resident out due to their lack of funds,“ said MSS CEO Steve McAlilly. “Our new funds will allow us to continue that unbroken record of allowing the residents to remain in their homes, should they outlive their funds. That’s important to us – and them.”
MSS has also created community endowment funds at other Mississippi community foundations, including Community Foundation of East Mississippi, CREATE Foundation, Gulf Coast Community Foundation, Pinebelt Community Foundation and Community Foundation of Northwest Mississippi.
“These new community foundation endowments will help us reach new donors and allow current donors to access and benefit from the wonderful Endow Mississippi tax credit,” said Brittany Cuevas, VP of Philanthropy. ”We are thrilled to partner with community foundations across the state.”
Endow Mississippi state tax credits are on a first-come, first-serve basis, opening up each year on January 1. Individuals are encouraged to donate to the Riggs Manor Retirement Community Endowment Fund here and the Martha Coker Green House Homes Endowment Fund here.