Foundation selling land
Published 10:13 am Thursday, October 20, 2016
The Davie Community Foundation received a gift of land in July from two generous community donors.
A total of 23.970 acres on Godbey Road, north of I-40, in Mocksville was gifted by Ken and Betty Dwiggins of Advance.
“We are excited to receive such a generous gift and sincerely thank the Dwiggins for sharing it with the community,” said Jane Simpson, foundation president. “Since the mission of the foundation is not to be a land owner, we will actively seek a buyer for the property.
“We are especially delighted that proceeds from the sale will be added to the Ken and Betty Dwiggins Fund II, a Community Fund endowment, administered by the foundation. In addition to helping the community through grants from their fund, the Dwiggins are also adding a significant gift that counts toward the 5n5 Community Impact Challenge, bringing us another step closer to our $5 million goal.”
The foundation will accept written offers for the property through Nov. 14. Specific information about the property may be requested from the foundation office (336-753-6903). If no acceptable offer is received, the foundation will consider other methods for sale.
“Total proceeds from the sale will be added to the Dwiggins’ Community Fund. Community Funds guidelines are unique. Unlike other fund types, grants from these endowment funds may only be made to organizations within Davie County. Grant applications are reviewed and award decisions are made by the foundation’s board of directors.
“Because the board of directors has leeway to award the money, Community Funds allow the greatest flexibility for seizing opportunities and overcoming challenges within the community – year after year.
“Land gifts may also be beneficial to the donors who make them. An asset you’ve had for generations can be a gift for generations to come,” she said.
By donating all or part of a property to the Davie Community Foundation, you are able to:
• reduce or eliminate your capital gains tax;
• receive an income tax deduction;
• receive income for life through a Charitable Remainder Trust.
“Most importantly, your gift will support Davie County people for generations to come,” Simpson said.
Endowments are permanently invested funds which produce income. The income is used by the board to award grants and scholarships. “It is a little bit like paying it forward in the sense that charitable people donate money, securities, or property to establish or add to endowments which, in turn, generate funds. Because the endowment funds are named by the people who make the gift, they remember families, individuals, companies, and groups as they make grants and award scholarships – a wonderful way to leave a charitable legacy.
“We are very thankful that the Dwiggins have chosen to leave a charitable legacy in our county. Their names will be recognized by future generations as a couple who cared about Davie County and chose to invest in its future.”
Contact the foundation at 336-753-6903, firstname.lastname@example.org, or visit www.daviefoundation.org.