Legal Protection

One of the many questions you will probably ask when considering the advisability of entrusting your gift to this foundation is: " Is the Foundation regulated by law and how can I be assured my express directions will be followed and my gift will be protected by law?"

The Lincoln County Foundation, like every other non-profit corporation, is regulated by general statute of the state and federal tax laws of IRS Code, Section 501 (c)(3) and held accountable for faithful execution of every trust imposed upon it according to the terms of the trust. A deviation from the terms of the will or other instrument relating to the handling of trust property is not permitted.

These provisions of the law are special interest to donors contemplating the making of a gift for charitable purposes, particularly when the gift is not to take effect until after the donor's death. By law, you have the comforting assurance that your gift will always be administered according to your desires, even after you are gone.

While under the law the directors  are given power to enact by-laws for the governance of its affairs, such by-laws must not be inconsistent with existing laws.

The Directors of the Lincoln County Foundation, pursuant to the laws referred to, have adopted by-laws. In doing so they have provided in considerable detail for the orderly conduct of Foundation affairs paying particular attention to safeguarding the interests of those who have entrusted their donations to the administration of the Foundation.

© Kim Carlson 2013