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Listed below are options to fund an endowment at the Community Foundation. We are happy to assist you in deciding what options can help you achieve your charitable goal. We also recommend you consult with your financial advisor and/or legal counsel to determine the funding option that’s right for you and your financial situation.
Cash is the simplest type of charitable gift and it may qualify for maximum allowable income tax deduction.
A gift described in your will enables you to designate a portion of your estate to the Community Foundation. In some cases, the gift can significantly reduce your federal gift and estate taxes. View our bequest language here.
Charitable Gift Annuity
Give and Receive. Charitable gift annuities allow you to make a gift to the Community Foundation, and in return, we make annuity payments to you. Charitable gift annuities also allow you to claim a deduction for the charitable portion of the gift and a portion of each annuity payment is income-tax free.
Charitable Remainder Trust
With a charitable remainder trust, you receive income similar to the charitable gift annuity, but the income may vary from year to year as the trust grows. When the trust terminates, the Community Foundation receives the remainder to address the charitable causes of your choice. You receive income tax benefits the year you establish the trust.
Charitable Lead Trust
Opposite of the charitable remainder trust, with a charitable lead trust, you can place cash or property into a trust that pays a fixed amount to the 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 and estate taxes.
Funds from a life insurance policy can create a new endowment fund or be added to any existing fund, permitting you to make a substantial gift with ease and enjoy the resulting tax benefits.
Securities and real estate
With a gift of securities and real estate, you can receive an income-tax deduction and you may avoid potential capital gains tax. Click here for our DTC / Gift Securities Form.
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