Ways to Give

We encourage you to use the full menu of giving vehicles to realize your philanthropic goals. You may make additions to your fund using both current and deferred gifts or create a new fund for a different purpose or goal.

The Community Foundation has the expertise to accept a wide range of assets:

Outright Gifts

Cash

Gifts of cash or check are an easy and convenient way of making a charitable contribution and can be used to establish or add to a charitable fund. Cash gifts entitle you to a tax deduction, up to 50% of your adjusted gross income (AGI), with an opportunity to carry-over any excess deduction for five years.

Securities

Gifts of appreciated securities (bonds and stock, including stock in closely held companies) may also be used to establish a fund or add to an existing fund. Such gifts often provide important tax advantages. Their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income. As with gifts of cash, deduction amounts exceeding this limit may be carried forward for up to five additional years. The added benefit of giving appreciated securities is the avoidance of the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as with publicly traded stock. 

Life Insurance 

Life insurance policies can also be used as charitable gifts. If the Community Foundation is named as the owner and beneficiary of an existing or new life insurance policy, the donor receives an immediate tax deduction which usually approximates the cash surrender value of the policy. All premium payments thereafter made by the donor will also be deductible as a charitable contribution.  

Real Estate 

A gift of real estate held more than a year can provide the same federal tax advantages as those described for gifts of securities. Because the Community Foundation's ability to accept gifts of real estate depends upon a number of factors, such gifts are considered on a case-by-case basis.

Assets from Other Trusts and Private Foundations 

To the extent you are permitted by law to make grants from a private foundation, you can direct such grants to the Community Foundation. In some cases, if a private foundation is no longer meeting your philanthropic objectives, it is possible to terminate it and transfer its assets to the Community Foundation to create a Donor Advised Fund or other type of charitable fund. 

Note: As with all financial matters, donors should contact their professional advisor for tax deduction advice and referral.

 

Planned Gifts

Bequests

Donors can provide for a specific charitable organization or purpose in their will through a bequest to the Community Foundation. 

Charitable Lead Trust

A Charitable Lead Trust permits your named fund at the Community Foundation to receive an income interest for a specified period of time. Subsequently the Foundation's interest terminates, but the trust continues for the benefit or terminates in favor of one or more individuals, children, grandchildren, relatives or others. 

Charitable Gift Annuity

A charitable gift annuity is a contract between the donor and the Community Foundation. The donor transfers cash or securities in exchange for a fixed dollar payment during his or her lifetime. The payment can begin currently or can be deferred for a period of time determined by the donor. 

Pension Plan Beneficiary

If a donor is going to make a charitable bequest, the best assets to transfer to a charity will normally be assets in a retirement plan because they produce taxable income. Most assets that an heir inherits are free from income tax. However, an heir will pay income tax on amounts received from a decedents' retirement plan (profit sharing plan, Section 401(k) plan, IRA, etc.) because the distributions are considered "income in respect of a decedent." 

Life Insurance Beneficiary

If the donor is not ready to give up ownership of a life insurance policy, the donor can still help the community through the Community Foundation by naming the Community Foundation as beneficiary. The donor retains ownership of the policy and has access to the cash value as well as the right to change the beneficiary. Since the donor retains ownership of the policy, there is no charitable deduction for the value of the policy upon designation of the charitable organization as beneficiary or for subsequent insurance premiums. Any proceeds payable to the Community Foundation at the donor's death, however, will not be subject to federal estate tax.

Charitable Remainder Trusts

The Community Foundation can administer both charitable remainder unitrusts and annuity trusts which pay lifetime income to donors and/or other named beneficiaries. Cash or property is transferred to the trust which distributes to the income beneficiary(ies) an amount equal to a fixed percentage of the trust's fair market value (unitrust) or a fixed dollar amount (annuity trust). Upon termination of the trust, its assets will be transferred to a component fund of the Community Foundation to support the charitable goals of the donor.

Charitable IRA Rollover

As of December 18, 2015, donors can transfer up to $100,000 from their individual retirement account to charity—tax-free. Renewed legislation allows you to give more to charity and pay less in taxes. If you are 70½ years old or older, you can make a gift of up to $100,000 by transferring IRA assets to your community foundation. 

Note: As with all financial matters, donors should contact their professional advisor for tax deduction advice and referral.