Huntley American Legion Charitable Foundation

The Huntley American Legion Charitable Foundation (HALCF) is now fully operational.  It has been a long road with incorporation with the Illinois Secretary of State, registration with the Illinois Attorney General, and finally determination by the Internal Revenue Service of our tax exemption status of 501(c)(3).  The stated purpose of the Foundation is to support the health and welfare of veterans of the Armed Forces of the United States. This status, as a public charity, opens up our foundation to receive tax deductible bequests, devises, transfers or gifts under the federal tax code and additional corporate donations to fulfill our mission of service to veterans.

The Foundation is composed of all members of the Legion family, Legion, Auxiliary, and SAL.  The Foundation is taking over the fundraising events of the Feather Party meat raffle, Gifts to the Yanks, and VetFest. The Foundation will be also be assuming many of the donations formerly provided by the Legion such as Veterans Path to Hope, New Horizons, USO, Honor Flight, Fisher House, and student scholarships.

We welcome any person, company, or organization wishing to donate to the Foundation.  Individual donations are always welcome. Other types of donations are listed on the attached page.  If there are any questions, please contact me for further information.

Don Smolinski

Treasurer

Email:  [email protected]

Tel:  (630) 841-1452

Planned Giving and other ways to donate to the Huntley American Legion Charitable Foundation:

Cash Gifts

You may contribute to the Foundation in memory of a loved one, friend, or colleague, or to commemorate a special occasion. The Foundation will acknowledge your gift by sending a letter to the person(s) you designate.  Please be sure to include the appropriate names and addresses with your gift.

Securities

It may be to your financial advantage to give marketable securities – stocks, bonds, or mutual funds – instead of cash to the Foundation.  Any securities you have owned for more than 12 months that have increased in value since you bought them are subject to long-term capital gains tax when you sell them.  If you make a gift of these securities to the Foundation however, you can save twice – once when you receive a charitable deduction for the securities’ fair market value as of the day of transfer, and again when you avoid the taxes on the capital gains.  Consult your financial advisor regarding the details of such a transaction.

Bequests

A bequest – a gift made through your will – allows you to retain control of your assets during your lifetime and distribute them as you wish upon your death.  After providing for loved ones, many people choose to include a gift to the Foundation.  The most common types of bequests include a fixed dollar amount, a specific property, a percentage of the estate, or the residual portion of the estate.  A charitable bequest may reduce the estate tax.  Consult an attorney when making or revising a will to ensure compliance with state law and to minimize any applicable taxes.