The funds which the West Point Community Foundation uses to fill the needs of the community in the broad areas of health, education, civic improvement, recreation and social welfare come from contributions from living persons and from bequests made by civic-minded persons in their wills.
Both the contributions and the bequests may be made in any amount, large or small, and may be made in cash or property. All are tax deductible.
A contributor, or a testator making a bequest may give the Board of Directions such direction as he or she desires regarding the charitable purpose to which he or she wishes to have the cash or property applied. Or they may simply make the contribution or bequest to the Foundation without any strings, thus allowing the Board of Directors a free hand in filling the needs of the West Point area.
If the contributor or bequest sets up a fund and allows the Board of Directors to expend the income therefrom for a charitable purpose, it is especially desirable that, at some future time, the Board be given the discretion as to the charitable purpose, to eliminate the risk of contributing to an out-dated cause.
A contributor may make the gift in his or her own name or as a memorial or even remain anonymous if he or she prefers. All bequests are, of course, treated as memorials.