Become a lifetime memberAre you interested in becoming an AAWGT member forever? Then, a lifetime membership may be the best option for you. Cost and paymentsThe contribution for a lifetime membership is $12,000. You can make payments over a 3-year period, and they will be governed by a signed pledge agreement (PDF, 202 KB, 1 page, May 2023) between you and the Community Foundation of Anne Arundel County. Payments can also be made with appreciated stock. Learn more about the terms and conditions of a lifetime membership (PDF, 3.5 MB, 2 pages, February 2023). As a lifetime member, your $12K contribution is held in a specially designated, individual endowed fund at the community foundation. Once a year, the community foundation “pays” the grant portion of your annual membership by transferring $500 from your $12K contribution into our Grant Fund. As of 2023, the community foundation also pays the $75 annual administrative expense portion of your membership fee on the renewal date. Note that the community foundation will not begin transferring the $575 to us until they receive your full $12K. Benefits of a lifetime membershipBecause the Lifetime Membership Fund is invested by the community foundation, the intent is that over time, the annual $500 membership contribution and $75 administrative expense fee will be generated by investment returns — leaving the bulk of the larger contribution intact. When a lifetime member becomes “inactive” at the end of her life or by her request, the balance of funds remaining in her Lifetime Member contribution will be transferred into our Endowment Fund. This is where it will continue to generate all-important Grant Fund revenue through the annual Endowment Fund distribution — and that is the forever part. Lifetime membership is not a special class of membership. All AAWGT members are equal in every respect. Lifetime membership is simply a different payment option that allows your contributions to continue to give through endowed funds. This approach might also appeal to working women who want to donate more now and reduce their expenditures after retirement. Contact us to learn moreFor general questions about lifetime memberships, email us at lifetime@givingtogether.org. For financial- and process-related questions, contact Kathy Luthcke, Director of Finance and Operations, at the Community Foundation of Anne Arundel County. |