The Hinton Area Foundation has qualified under the rules and regulations of the
Internal Revenue Service as a non-profit community foundation. Your gifts, therefore,
are tax deductible.
The HAF has been successful only because of the broad support of a large number of
people. Many people have given us money. Other have remembered the Foundation
in their Wills. Some have given us property. Many more have contributed their time
and labor.
Any contributor can created a designated fund within the Foundation with a
contribution of $5000 or more. The minimum contribution may be spread over three
years with a minimum $1500 first year contribution. The HAF is a participant in the WV
Neighborhood Investment Program and may issue WV tax credits equaling 50% of
endowment fund contributions (limited to the Foundation's annual allocation of tax
credits). The minimum contribution to qualify for the tax credits is $500. There are no
minimums for contributions to existing funds. If you are interested in created a
designated fund, you are encouraged to discuss your purpose with any member of the
Board of Directors.
| ASSETS |
December 31, 2004 |
December 31, 2005 |
| City Natl Trust Account |
$1,467,139.00 |
$1,520,501.00 |
| City Natl Checking Acct |
$21,801.00 |
$4,259.00 |
| First Century Bank |
$110,000.00 |
$121,954.00 |
| Total ASSETS |
$1,598,940.00 |
$1,646,714.00 |
| FUNDS |
December 31, 2004 |
December 31, 2005 |
||
| Designated Endowment Funds |
$1,169.626.00 |
$1,215,741.00 |
||
| General Endowment Funds |
$243,505.00 |
$247,435.00 |
||
| Total Endowment Funds |
|
|
||
| Designated Pass-Thru Funds |
$150,752.00 |
$126,887.00 |
||
| Operation Fund |
$8,327.00 |
$4,534.00 |
||
| Income Available for distribution |
$45,961.00 |
$50,758.00 |
||
| Undistributed Capital Loss |
$(19,331.00) |
$1359.00 |
||
| Total FUNDS |
|
|
