Giving to the Greater Seymour Trust Fund

What does a Private Foundation do?

A private foundation is a nonprofit organization set up for solely charitable purposes. Unlike a public charity, which relies on public fundraising to support its activities, the funding for a private foundation typically comes from a single individual, a family, or a corporation, which receives a tax deduction for donations.

Each year, the Greater Seymour Trust Fund makes grants to 501(c)(3) charities and awards scholarships to students in the communities we serve. As a private foundation, we must make an annual distribution equal to roughly 5% of our prior year’s average net investment assets. Distributions that count toward this requirement include grants to charities, certain related expenses, and, with the exception of investment expenses, necessary and reasonable administrative costs (including JCBank’s annual trust fee).

Our grant and scholarship funds are set up with the intent to exist in perpetuity, so your charitable giving can continue as long as the Greater Seymour Trust Fund exists. Earnings from each fund are put back into our communities each year.

What communities do you serve?

Any donor may create a fund to provide grants to any 501(c)(3) charitable organization in the world, as well as provide scholarships to students anywhere that will be attending accredited educational institutions in the United States or abroad. Individuals, families and businesses have chosen to use the Greater Seymour Trust Fund to address the charitable needs in their community.

Is there a cost of set up a fund?

There is no cost to establish a fund, but there is a minimum of $10,000 needed set up your own fund. No grants or scholarships are disbursed from the fund for the first 12 months without approval from the Trustee, JCBank.

Are there benefits of working with the Greater Seymour Trust Fund?

Low administrative costs, ease of contribution, and local administration. 

Many community foundations charge 2.00% to 2.50% for a scholarship fund, and 1.00% to 2.00% for a grant fund.  The Trustee's fee for any fund type in the Greater Seymour Trust Fund is 1.40% on the current market value of the fund.  Additional expenses such as investment advisory fees are also paid from the Trust Fund each year.

The Greater Seymour Trust Fund is already established as a charitable trust.  Contributions can be made to the Fund without the expense of creating a trust and obtaining not-for-profit status. Every contribution made to the Trust Fund is placed in trust at JCBank in Seymour, Indiana.  This assures the continuing supervision, accountability, and wise investment of the money.  The administration of these funds is subject to the Bank's regular audits and examinations by Government supervisory authorities.

Who can receive grants from Greater Seymour Trust Fund?

All grants are to be distributed to 501(c)(3) nonprofit organizations or other qualified charities.  A donor may designate that grants from his or her fund benefit a church, school, or other nonprofit organization at any location in the United States, which the Trustee can accommodate.

Why should I become a donor?

Your donation can make a real difference in your community.  Partner with Greater Seymour Trust Fund to make an impact in the lives for children, students, and families.  Your donations also impact the budgets and projects of local and regional charities that support the causes important to you.  Whatever the cause, by donating to a new or existing fund, you are directly helping people in your community.

As a private foundation that is fully recognized by the IRS, we can accept a variety of gifts such as cash, appreciated stocks and securities, certain real estate, bequest designations, etc.  No gift is too large or too small.  For more information on the types of gifts we will accept, please contact the Greater Seymour Trust Fund at 812-524-4411.

Contributions to the Trust Fund qualify as charitable contributions, which can result in substantial income tax and estate tax savings. Please consult with your tax advisor regarding the advantages of making contributions to the Greater Seymour Trust Fund.