Community
From that first drugstore operating off the back of a wagon, to the Kirkpatrick Oil Company’s new offices downtown, we have been business friendly. We boast two banks, a lumberyard, supermarket, variety store, machine shops, trucking, oil field supply, two medical clinics, two new subdivisions, and the best eateries in Oklahoma. The entrepreneurial spirit lives in Hennessey. Our infrastructure is strong. The water facility is new, the sewer plant is coming, and we have extended services across Highway 51 to the north. We have the citizenry, the will and the horizon. We are on the move! This is the intersection of Past and Present that we call Hennessey. Come home for a night or a lifetime, and grow with us!
- Population 2,420
- Median 34.9
- Housing – owner 73.4% of the housing units in Hennessey, OK were occupied by their owner.
- Average Household Income $51,597
- Turkey Creek Golf Course
- Aquatic Center / Splash Pad and Town Swimming Pool
- Pat Hennessey Park
- Prairie Quilt (Largest Quilt Shop in Oklahoma)
Endowment Funds and Planned Giving Create a Better Tomorrow…Today!
You have the opportunity to make an investment that will last forever…
When you make a gift to the Hennessey United Legacy Foundation, you are leaving a legacy that will strengthen our community, improve lives and make a lasting impact, forever.
In partnership with the Cherokee Strip Community Foundation, we offer an endowment that allows you to maximize the long-term, local impact of your gift. Building the endowment is the best way to guarantee long-term resources are available for the Hennessey United Legacy Foundation to serve as a community leader and ensure they accomplish the mission of improving lives in our community. When you make an endowment gift, you create a steady stream of annual income to forever support Hennessey United Legacy Foundation’s critical work. Your endowment gift is invested and will be maintained in perpetuity. There are several ways in which you can make an endowment gift either today or as part of your estate plan.
How can I make a contribution?
Strategic gift assets include:
- Outright Gifts
- Bequest
- Life Insurance
- Memorials
- Charitable Lead Trust
- Charitable Remainder Trust
What form can an endowment take?
- Cash
- Current gifts of non-cash assets, such as stock and real estate
- Charitable bequests
- Life income gifts
- Gifts of retirement plan assets
- Gifts of life insurance
What is an endowment fund?
An endowment is a permanent fund that provides income each year to support your mission. The Hennessey United Legacy Foundation in partnership with the Cherokee Strip Community Foundation are professionally managed to ensure the funds remain strong over time. Currently, CSCF funds pay out up to 5% of average fund balance. For example, a $100,000 fund provides about $5,000 in support each year.
Is there a minimum size for gifts to our endowments fund?
A minimum of $10,000 is required to establish a fund, but once a fund is established there is not a minimum to add to any existing funds.
Amounts smaller than $10,000 can be donated, but cannot be designated and will go to the general fund.
Are endowments restricted in purpose?
Endowment funds provide unrestricted support of specific purposes. Individuals and families create these funds, usually named, to address a need or support a program of special importance.
What is a Named Fund?
A named fund is a permanent fund that honors an individual or family and benefits a nonprofit. Named funds are created with a gift of at least $10,000. The gift may be current or deferred, as in the case of a bequest. Each year the Hennessey United Legacy Foundation receives support in the name of the fund.
Why is an Endowment Important?
An endowment provides essential stability, grows over time, is a permanent source of funding, and facilitates strategic planning. The endowment fund also presents an excellent option for donors who want to make deferred gifts.
Types of Funds
Agency Funds
Allows non-profit agencies to take advantage of the foundation’s investment money managers and still have access to their funds. Download Fund Agreement.
Gift Funds
Serves the needs of donors having a longer-term distribution plan with the option of investment growth and flexibility to eventually distribute the entire gift for charitable purposes. Download Fund Agreement.
Unrestricted Funds
Provides money that is awarded in grants by the Foundations Board of Directors. An undesignated donation is ideal for those who want to leave a legacy that will benefit many concerns within our community. Download Fund Agreement.
Field of Interest Funds
Are tied to a general area of interest and not to a specific organization. We use your suggestions and other criteria to select grant recipients. Download Fund Agreement.
Donor Advised Funds
Allows you to suggest what charitable cause should receive money, upon approval of the Foundation’s Board of Directors ($10,000 minimum). Download Fund Agreement.
Designated Funds
Allows donors to designate payments at the time of the gift to named charity, agency, or specific project.
Download Fund Agreement.