ASSETS AS GIFTS

CASH

Cash gifts are an easy and convenient way to support worthy causes through the Community Foundation. Donors may claim a tax deduction of up to 50% of adjusted gross income in any one year when deductions are itemized.

Stocks, Bonds, Mutual Funds

Appreciated securities donated to the Community Foundation are deductible at their full market value up to 30% of adjusted gross income each year when deductions are itemized. The Community Foundation will liquidate the securities and no capital gains tax is paid on the appreciated part of the gift. For instructions on how to transfer gifts of stock, click here.

REAL ESTATE

The Community Foundation can accept gifts of real property (homes, land, etc.). Because gifts of real estate require certain procedural steps, please call the Community Foundation in advance.

LIFE INSURANCE

Gifts of life insurance policies may be made by naming the Community Foundation as the owner and beneficiary of an existing or new life insurance policy. You receive an immediate tax deduction approximately equal to the cash surrender value of the policy. Any premiums paid thereafter are deductible as a charitable contribution.

BEQUESTS

Charitable bequests are one of the easiest ways to give to the Community Foundation because you retain complete control over the assets during your lifetime and support the causes you love later. Bequests can be a specific dollar amount, a percentage of an estate, or the residual that remains after all other bequests are made.

CHARITABLE REMAINDER TRUST (CRT)

A charitable remainder trust pays you or another beneficiary regular income payments for life or a specified trust term (up to 20 years). Upon the death of the trust’s income beneficiaries, or at the end of the specified years, the remainder of the trust transfers to the Community Foundation to support your charitable giving goals. It’s an opportunity for donors to retain lifetime income, receive a current income tax deduction and defer the capital gains recognized on the sale of the contributed asset.

CHARITABLE LEAD TRUST (CLT)

A charitable lead trust enables you to make charitable gifts now while transferring assets to beneficiaries later. A trust is set-up to provide an annual payment to the Community Foundation for your life or a specific number of years. These funds may be added to your fund or any established fund at the Community Foundation. When the trust terminates, the remainder is returned to you or your named beneficiary allowing you to transfer assets to others without incurring estate, gift and income taxes.

INDIVIDUAL RETIREMENT ACCOUNTS & RETIREMENT PLANS

Retirement plan accounts and IRAs are often subject to heavy taxes when left to heirs making them one of the best types of assets to leave to charity. When left to a nonprofit, like the Community Foundation, 100 percent of the gift is available to support your charitable interests.