Ways to Give
A gift of long-term appreciated securities can be deducted at full fair market value while avoiding capital gains tax.
Gifts of real estate can include homes, condominiums, apartments, undeveloped land, farmland, and rental property. Gifts of long-term appreciated real estate offer tax advantage similar to appreciated securities.
Remembering the community in your will is easy. You may leave a percentage share of your estate or specify the dollar amount.
Life insurance Policy
You assign the policy and beneficiary rights to the Community Foundation. The charitable tax deduction will be for the present cash value of the policy. If the donor continues to pay annual premiums, these, too are tax deductible. The future benefit to the Foundation will be the face value of the policy.
Charitable Remainder Trust
You place assets in trusts and receive income for life. You may also designate a spouse, children, or others to receive the income. You receive a charitable deduction, avoid capital gains tax, and remove the asset from your taxable estate. The asset eventually passes to your named fund at the Foundation.
Charitable Lead Trust
This trust pays out income to the Foundation for a specified number of years. When the term is up, the principal can be returned to you, your estate, or to your designated beneficiaries. You pay no income or capital gains taxes on this asset during the period of control by the Foundation.
You can contribute your home or farm but retain the right to live in it for life. After your lifetime, its value will be added to our fund with the Foundation. You receive an income tax deduction, avoid capital gains tax, and exempt the property from estate taxes.
If you are the beneficiary of a trust which pays you a regular income, you may assign a portion of this income to the Foundation. You pay no further tax on this income and may take an income tax deduction for the value of the assignment.
Individual Retirement Account
The IRA that helps you and our spouse face retirement years can later be reduced by income, estate, and even excise taxes before it reaches your hands. By naming the Foundation as the plan beneficiary, you can ensure that all the assets will continue to benefit your community.