The King William Association Charter was submitted to the State of Texas on July 28, 1967. The purpose of a charter is to proclaim an organization’s purpose and intent. Seven purposes are listed in the King William Charter. This article is about the seventh and last purpose.
7. In support of these purposes, the corporation shall solicit and receive funds and real personal, or mixed property and interests therein by gift, transfer, devise or bequest, and invest such funds and property, subject to such limitations, if any, as may be expressed in any instrument evidencing such gift, transfer, desire or bequest.
Cash donations through memberships, the home tour and the King William Fair are the predominant ways the King William Association receives funding. Real property donations have included the Big Pig located on S. Presa Street and the Caroline Shelton watercolor drawings.
Since the King William Association is a nonprofit organization, donations are tax-deductible. Donations can go to the general fund or to specific programs such as the scholarship program, historic preservation fund or community/cultural fund, targeting an activity or program important to the donor. Association Treasurer Joe VanMeter suggests designating KWA as a beneficiary in estate planning. Donations to a nonprofit organization can reduce estate taxes paid to the Internal Revenue Service.
- Cherise Bell