Frequently Asked Questions
The Labor Community Foundation is owned by the Labor Credit Union. The Foundation was launched as an independent entity to expand the credit union’s ability to empower underserved communities with tools for financial literacy, career advancement, and resilience to achieve long-term prosperity.
Yes. As a registered 501(c)(3) organization with the Internal Revenue Service, as qualified to receive tax-deductible bequests, devices, gifts, donations, or transfers under Section 2055, 2106, or 2522, your contribution(s) to help fund the work of the Foundation are tax deductible.
Yes, as a contributing member of the Labor Community Foundation, a benefit of membership is full access to becoming a member of the Labor Credit Union. The initial annual contribution to join Labor Community Foundation is $5 and is fully reimbursed by Labor Credit Union after joining. Visit https://dolfcu.org/eligibility/ to learn more about the benefits of belonging to Labor Credit Union.
At this time, you can set up a recurring monthly donation via automatic bank transfer or credit/debit card using our donation portal by visiting https://www.zeffy.com/en-US/donation-form/donate-to-make-a-difference-606
Yes. As part of your estate planning, you can name Labor Community Foundation as a beneficiary. We would welcome the opportunity to discuss your plans in more detail to best utilize your gift to meet your expectations. Bequeaths are often used to establish an endowment for future support and development of the foundation or to create a scholarship program to support the mission of the foundation.
We are actively working to join the Combined Federal Campaign. As you might imagine, the process of becoming part of this internationally recognized philanthropic aggregator is lengthy, with numerous applications and approval processes.
Yes, you can mail a check to our mailing address, which is Labor Community Foundation, 15912 Crain Highway, Unit B227, Brandywine, MD 20613-8035.
Yes. We would be delighted to explore that opportunity with you. Please reach out to our executive director, Chris Lorence via email at [email protected]
Your donations may be used in several ways by the Foundation. A portion of your donation may go to supporting the operational expenses of the Foundation. However, most of your donations will be used to impact the mission of the Foundation by providing funding for the scholarship awards granted through the Foundation to support continuing education or career development for scholarship recipients. When donating, you have the option to specify how your donations will be used by the Foundation.
In addition to the Executive Director who oversees the daily operations of the Foundation, there is a Board of Governors who are volunteers and have a fiduciary responsibility to ensure the Foundation operates in a prudent and responsible manner with the donations received. The Foundation must submit annual statements to the Internal Revenue Service regarding the fundraising and expenses of the Foundation, and the Foundation goes through an annual audit conducted by external auditors to ensure proper use of the funds and accounting of expenses.