Amity Charitable Trust
P.O. Box 8626
New Haven, Connecticut 06531
Attn: Susan Charboneau, Administrator
Email: susan.charboneau@amitycharitabletrust.onmicrosoft.com
MISSION STATEMENT
The purpose of the Amity Charitable Trust Fund is to improve the quality of life for citizens of the greater New Haven area by:
- Enabling donors to carry out their charitable intent through contributions to a prudently administered, permanent endowment fund.
- Making creative, sensitive grants which meet the changing needs of our community in an effective manner.
- Providing leadership in identifying and assessing community concerns and acting as a catalyst to resolve these concerns
BACKGROUND
Over its more than five decades of history, The Amity Charitable Trust Fund (ACT) has accepted, and is now steward to, more than seventy endowment funds. The principal amount of each of these funds remains intact permanently, while the income is used annually for charitable purposes. These endowment funds and other monies are pooled together for efficiency and invested into a larger “balanced” portfolio.
A balanced portfolio is a group of investments designed to provide both growth in value for the future and income for current grantmaking purposes. Simply stated, ACTs financial policy is to maintain, in perpetuity, the purchasing power of its endowment and grantmaking capacity.
HOW IT WORKS
The ACT is a charitable organization operating under Section 501 (c)3 of the Internal Revenue Code. All gifts received by the ACT are tax deductible to the extent provided by law.
The advantages of using the ACT as a vehicle for the donor’s charitable objectives are many.
- An investment in the future: All gifts are preserved as part of the ACT’s assets and may increase in value over time. The income from these assets will be a future resource for the charitable organizations of the greater New Haven area. A gift today will perpetuate the donor’s philanthropic interests.
- Simplicity: With one contribution the donor can benefit all or certain specific aspects of community life.
- Flexibility: A donor may choose from several options for giving to the ACT. If at any time the original purpose of the gift becomes obsolete, the ACT has the authority to redirect the funds, in a manner which best represents the interests of the donor, to agencies which effectively meet the changing needs of our society.
- Tax benefits: Tax benefits can be realized on ordinary income taxes, capital gains taxes and estate taxes.
- Grants management: The Worthy Projects Committee carefully reviews all grant applications to determine whether they address the needs of the community.
- Professional investment management: Based on current needs and long term objectives of the ACT, the trustees provide investment guidelines for the portfolio’s managers. The guidelines balance asset growth and income production. Administrative expenses are kept to a minimum.
- Dedicated volunteers: The Trustees and committees are composed of prominent civic leaders who devote many hours to the successful operation of the ACT
HOW TO GIVE
The ACT welcomes contributions in any amount. Gifts under $5,000 will be placed into the Member and Friends Fund or the Corporate Endowment Fund. The income is used for the general purposes of the ACT. With a minimum contribution or pledge of $5,000, a donor may choose one of the following types of funds which will carry the name designated by the donor:
- Unrestricted: The income from this fund will be used for the priority needs of the community as determined by the Worthy Projects Committee.
- Field-of-interest: A donor may specify a particular field-of-interest to receive income from this fund.
- Designated: A donor may request at the time a gift is made that the income from the fund be granted to particular charitable organizations. The agencies apply annually for the funds, and the ACT monitors the grants to ensure their compliance with ACT guidelines.
- Donor-Advised: A donor may annually suggest possible grant recipients from this fund. Although the ACT cannot, under regulations of the U.S. Treasury Dept., be obligated to follow these suggestions, every effort is made to implement the suggestions when consistent with the overall grant guidelines of the ACT.
- Scholarship: Scholarship funds are administered by the Amity Club Scholarship Committee.
- In Memoriam: The ACT is an excellent vehicle for remembering those who have devoted their lives to the greater New Haven area. Individuals and organizations interested in contributing to the ACT are encouraged to contact a representative of the ACT to review all the possible options for giving. There are many ways to endow a fund: cash, securities, life insurance policies and conversion of a private foundation can be used to make an immediate gift. A deferred gift can be planned through a bequest or charitable remainder trust. A lawyer should be consulted on all charitable gifts which require a legal instrument.
COMMUNITY INVESTMENTS
Established by donors and organizations, the ACT administers more than seventy funds, each established to build a charitable endowment. Following is a partial list of agencies and organizations supported by ACT funds over the years:
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Ple
ase send your charitable contributions to:
Amity Charitable Trust
P.O. Box 8626
New Haven, Connecticut 06531
Attn: Susan Charboneau, Administrator
Email: susan.charboneau@amitycharitabletrust.onmicrosoft.com