Great Giving with Endowments: Free Seminar on June 9

The Outer Banks Community Foundation is offering a free Sip and Learn Seminar on Thursday, June 9 about the benefits of endowment giving.

This free seminar will be open to the public and will be held from 5:00 pm to 7:00 pm at the Duck Woods Country Club at 50 South Dogwood Trail in Southern Shores. There will be light refreshments and a short presentation by Lorelei Costa, Executive Director of the Community Foundation, on the fundamentals of charitable endowments.

Ms. Costa said, “A gift today helps your favorite cause right now, but an endowment gift helps your favorite cause forever. In this seminar, we’ll talk about how donors of all means can leave a lasting legacy to support any charitable cause that inspires them.”

The Community Foundation specializes in charitable endowments. Founded in 1983, the Outer Banks Community Foundation manages over 140 perpetual funds totaling over $13 million. The funds are established by different donors at different times for all different charitable purposes. Contributions are invested, and earnings are given out each year in grants and scholarships, according to the donor’s wishes.

“There are many different kinds of endowments,” said Ms. Costa, “from donor-advised funds, where the donor chooses the grant recipients each year, to field-of-interest funds, where the donor names a general charitable cause (like education or senior care) and leaves the grant-making to us.”

“We’ll also discuss scholarship funds, which help local students attend college, and nonprofit funds, which benefit a specific nonprofit organization. Endowments are so much easier and more affordable than most people think, and at the seminar we’ll also discuss the significant tax benefits of starting a fund.”

Ms. Costa has served as the Executive Director of the Outer Banks Community Foundation since 2012. She graduated from UNC Chapel Hill in 1999 and earned her certificate in nonprofit management from Duke University. She has 17 years’ experience in the philanthropic sector and lives with her husband in Southern Shores.

Please RSVP for this seminar by June 6 to shirley@obcf.org or to 252-261-8839.