Types of Gifts
Gifts can be made to existing funds or used to establish a new fund at the Community Foundation. Donations with no fund designation will be added to our Community Fund. Pass-through gifts not intended for a component fund are assessed a 5% fee. Gift dates are recorded as of the day the contribution is received by the Community Foundation. Gifts must be postmarked or time-stamped December 31 to be considered a donation in that year.
Cash gifts are the most popular and simplest way to make a charitable contribution. Gifts can be made via cash, check, or credit card.
Stocks & Securities
Gifts of appreciated securities often provide significant tax benefit. Contributions of appreciated stock held for more than a year are generally deductible at market value, regardless of what you paid for them. Accordingly, the capital gains tax is avoided. Donors are encouraged to consult with their tax advisor regarding their specific tax situation.
Donors’ philanthropic interests can be supported in perpetuity by including the Community Foundation in their will or living trust. Donors are encouraged to let us know if we are included in their estate plans so we can fulfill the donor’s specific wishes and welcome them as a member of our Legacy Society.
Charitable Gift Annuity
Donors transfer cash or appreciated securities and receive an immediate tax deduction, as well as a guaranteed lifetime income with a payout rate based on age. When the donor passes away, the remainder of the gift is passed to the Community Foundation to be used to fulfill the donor’s charitable wishes.
Retirement Accounts – Lifetime Giving
After age 59 ½, individuals can take a taxable distribution from a traditional IRA without penalty. For individuals age 70 ½ or older, a qualified charitable distribution (QCD) made directly from an IRA to a public charity can help avoid paying taxes on required minimum distributions (RMD).
Retirement Accounts – Estate Giving
Individuals who do need retirement funds for their everyday living expenses can choose to support their community by naming the Community Foundation as a beneficiary. Tax efficiency is maximized because there is no estate or income tax attributed to the gifted IRA assets.
Should a donor no longer need the protection afforded by life insurance, ownership of the policy can be assigned to the Community Foundation and the organization named as its beneficiary. Donors can make annual tax-deductible contributions to cover the policy's premium, or, if the policy is paid up, donors receive an immediate tax deduction for the policy's cash surrender value.
Many charitable contributions are eligible for a matching gift from employers. Gifts from retirees and spouses may also qualify. Employers may also reward volunteerism by providing grants to organizations where employees volunteer regularly.
Real Estate & Personal Property
The Community Foundation can accept tangible gifts, such as property, jewelry, and antiques. Due to the complex nature of such gifts, these transactions require prior approval and must adhere to gift-specific policies adopted by our Board.
Charitable lead trusts and charitable remainder trusts provide maximum flexibility for transferring assets or securing a life income for beneficiaries while benefiting the community now or in the future.
Let’s Strategize Together
Based on the nature of your assets and financial goals, more creative types of gifts may offer the benefits you want. Let’s work together to plan your charitable giving.