Mary Frances Friday was known at the Community Foundation for her generosity, infectious smile, pleasant personality and unusually tasty sugar cookies. A friend of the Foundation, she is greatly missed since her death in 2013 and might be embarrassed at the telling of her story. Thankfully, her family has given permission to tell her story because of the value of such a case study.
Mrs. Friday was introduced to the Community Foundation via professional advisors. Her particular circumstances left her with 100 acres of land formally farmed by her late husband, W. Kenneth Friday. Paramount to Mrs. Friday was how she would facilitate a gift to her church. Adding to the stress of how to liquidate assets was the daily management of the property itself.
The Community Foundation was able to help Mary Frances Friday achieve all of her goals. Several giving vehicles available at the Foundation were used to accomplish her specific wishes. Mrs. Friday donated 75 of her 100 acres to the Foundation to gain a tax deduction in that year. The proceeds of the sale of the land were placed in a charitable remainder trust, from which Mrs. Friday received an income. She was able to plan a gift to her church which is what precipitated the actions she took. Mrs. Friday also gained three nice neighbors, an unforeseen but added benefit.
Mary Frances Friday is remembered as a woman that loved her church, family and friends. We are better for having known her.
