Donations of any amount are greatly appreciated by the Foundation. Cash donations can be made to our Unrestricted or Endowment funds or can be used to set up or add to other types of funds.
A bequest is a gift given through your will or trust. You may designate a specific amount of money or a specific percentage of your estate. Or you may donate all or a percentage of the residue of your estate after taxes, expenses and other bequests have been fulfilled.
Appreciated Securities, Real Estate, or Other Assets
Current U.S. tax law allows the donor of appreciated securities, real estate, or other assets to get a tax deduction for the market value of the donation and avoid capital gains taxes. This double tax advantage can make donating appreciated assets to a charitable organization more attractive than selling the assets and donating cash. It is important to note that the charitable deduction you receive is based on the full value of the asset when transferred, regardless of the price the Foundation sells it for.
Individual Retirement Account or Tax-Deferred Annuity
You can use the Foundation as the beneficiary of a traditional IRA or tax-deferred annuity. Such an asset would have income tax implications for yourself or your estate but by donating the asset to the Foundation the entire value goes to the Foundation. It is simple to do this by changing beneficiaries and does not necessitate an attorney or redoing the will (or revocable trust). If it is a large account, one might consider donating a percentage of the residue after distributions have been made to other beneficiaries of the account.
You can make a donation to the Community Foundation by purchasing a life insurance policy naming the Foundation as Owner and Beneficiary. By making small, annual, tax deductible premium payments, you can create a much larger gift than you might otherwise be able to afford.
Estate Contributions to an Existing Fund
You can enhance an existing fund, by making a major gift to the fund via your estate plan. This could be done, for example, for an existing family fund or an existing scholarship Fund.
It may be beneficial to make a deferred gift of future interest during your lifetime, by retaining life interest in your property and leaving the remainder of the interest to the Foundation. You may transfer cash or other assets to the Foundation irrevocably in exchange for lifetime payments and tax deductions.