Ways to Give
There are many ways to give through your community foundation. Here are some of the most common methods donors chose. We, along with your financial, tax or estate planner, can help you chose the method that is right for you.
Donors who establish personal philanthropic funds with their community foundation during their lifetimes receive one priceless benefit: the joy of watching their philanthropic dollars at work. Unless they choose to remain anonymous, their generosity will be recognized both by those who benefit from their fund and the community as a whole. An outright gift accomplishes two important tax objectives: a charitable income tax deduction in the year of the gift and the reduction of the gross estate for future estate tax purposes. In addition, donors eliminate capital gains taxes for gifts of appreciated property. Donors can create or add to their fund with gifts of cash, publicly-traded or closely-held securities, real estate or personal property.
You can designate a gift or portion of your estate to your community foundation and, in some cases, receive a substantial reduction in federal gift and estate taxes.
You can make a gift of cash or property to your community foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed annual income payments for life.
You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to your community foundation and is placed into a charitable fund you have selected. You receive income tax benefits the year you establish your trust.
You can place cash or property into a trust that pays a fixed amount to your community foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes.
By donating the remainder interest in a home or farm, you and your spouse can continue to live in the residence for life, while obtaining a generous current income tax deduction. Vacation homes may also be donated. On termination of your interest(s), the Foundation will sell the property and establish a charitable fund with the proceeds.
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Community Foundation Alliance