There are many types of gifts that may be given to establish a fund or add to an existing fund at the Foundation. Click on each option to learn more.
TO GIVE ONLINE
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Please enter the Fund Name you are giving to in the field titled "Add special instructions to the seller" .
After payment is submitted, you will receive a PayPal confirmation email.
*NOTE* the Fund Name you entered WILL NOT appear on your PayPal confirmation email.
However, CFNF WILL be provided the Fund Name you entered and will apply your contribution to the Fund you have designated.
You can make a current gift of cash or check to any Fund at the Community Foundation and receive the maximum tax advantage under federal law.
Including a charitable bequest in your will is a simple way to make a lasting gift to your community. Your bequest establishes a fund that benefits the community forever and becomes your personal legacy of giving.
A Donor Story: The gift of a lifetime
Irene Hoover and her husband owned a bakery and enjoyed a great deal of success and prominence in their hometown. After her husband passed away two years ago, Irene decided it was time for her to update her will. Part of her plan was to give something back to the community the Hoovers had loved as both residents and business owners. “Not only did Jim and I love our town, but we felt as though we owed it a lot for the success of our business,” says Irene. With the help of her professional advisor, Irene revised her will to include an inheritance for the Hoovers’ college-age niece, with the remainder creating the Hoover Bakery Fund, a Field of Interest Fund designed to support community development efforts. Because it will be endowed, her gift will provide a growing source of community funding for festivals, neighborhood revitalization, publicly accessible artwork, and other community improvements. “I like knowing that when I’m gone, our legacy will be one of helping others strengthen our community,” says Irene.
Everybody wins when you make a gift of appreciated stock to your community foundation. Your gains are put to good use. Your gift of stock is reinvested in your community, and it qualifies for an immediate tax deduction based on the full market value. Please contact us for specific instructions on donating stock.
Giving appreciated stock through a community foundation is popular among a range of givers — individual investors, families, entrepreneurs, and even groups of friends who have formed investment clubs.
By giving stock through your community foundation, you can avoid capital gains taxes that would be due as a result of its sale and establish a charitable fund that benefits the local causes and organizations you care about most. With gifts of appreciated stock, your stock market earnings translate into community impact, so you get a more rewarding return on your portfolio. You can set up a scholarship; support special programs for at-risk youth, senior citizens, or other people in need; address environmental concerns; support the arts; or any charitable cause you choose.
A Charitable Lead Trust helps you build a charitable fund with your community foundation during the trust's term. When the trust terminates, the remaining assets are transferred to you or your heirs, often with significant transfer-tax savings.
You transfer assets into a trust, which pays the community foundation an annual amount to build a charitable fund. During its term, the trust can be managed expertly by experienced trust professionals, which may help your trust investments grow over time. When the trust terminates, either upon your death or after a specified number of years, its final assets are transferred to those you designate; any growth in the trust passes to recipients, often with significant transfer-tax savings.
A Charitable Lead Trust entitles you to a number of financial benefits. It shelters investment earnings from tax, and it offers gift, estate, and generation-skipping tax benefits. For example, trust assets are removed from your estate for estate tax purposes. You may also capture future gift tax deductions. However, at the time your trust is established, you may owe gift tax on the present value of your gift to the final beneficiary.
A Donor Story: A lifetime gift for two
Annette Bernack wanted to create a fund to support her favorite charitable interests for years to come. At the same time, she wanted to provide an inheritance for her daughter in a way that created the least tax burden. "My attorney told me that creating a Charitable Lead Trust and designating my community foundation as the charitable beneficiary would allow me to give to the community now and provide for my daughter later," says Annette. Using a regular distribution from the trust, Annette has already begun to build a fund at her community foundation, which is, in turn, making grants to her community in areas important to her. The trust will continue to build the Bernack Family Fund until her death, after which the rest of the trust will transfer to Annette's daughter. "By giving through a Charitable Lead Trust," says Annette, "I am doing more for both my daughter and the community...and my estate will owe less in taxes."
Charitable Remainder Trust: Planning for the future - for you and your community
Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life, knowing that whatever remains will benefit your community.
You transfer assets into a trust, and the trust pays you or a beneficiary you designate regular income payments. Upon the beneficiary's death or after a defined period of years, the remaining assets in the trust can be transferred to the Community Foundation.
A portion of the income may be a tax-free return of
principal, while some is taxed as ordinary income or
capital gains. The amount of annuity paid and the tax
deduction received depends on the age of the recipient
and the current annuity rate (as established by the
Internal Revenue Service).
A Donor Story: A gift that pays
James Assad was retired and in his late seventies. The stocks he owned had high market values, but they paid limited dividends. In addition to increasing his personal income, James was interested in giving to the community in which he had lived his entire life, so he decided to transfer the securities to a Charitable Remainder Trust that eventually would create a fund with his local community foundation. "The income I received from the trust is more than what I was collecting in annual dividends - by thousands of dollars. If I would have sold the stocks, I'd have paid a fortune in capital gains tax," says James. James also receives an immediate charitable tax deduction and pays less tax on trust distributions. "Plus," he says, "I know that when I pass, I've done something good." In time, James' gift will create the Assad Family Unrestricted Fund to address ever-changing community needs.
Life insurance provides a simple way for you to give a significant gift to charity, with tax benefits that you can enjoy during your lifetime.
You can make a gift when life insurance is no longer needed for personal financial wealth replacement by either giving a paid-up policy or continuing to pay premiums. You may receive a number of tax benefits, including reduced estate and income taxes. And, if you choose to continue paying premiums through your community foundation, you will be entitled to a charitable contributions deduction of up to 50 percent of your adjusted gross income.
Additionally, you can use life insurance to replace
the dollar value of an asset transferred to your
community foundation. Or, you can use regular payments
from a Charitable Remainder Trust to establish an
irrevocable life insurance trust. The trust can
purchase insurance on your life to benefit your heirs.
This way, you can make a gift to your community
foundation and replace the value of this gift within
your estate with life insurance proceeds.
A Donor Story: A gift that pays
When his two daughters were young, Zachary Ding bought a life insurance policy to provide for his family in the event of his death. Now, he's 65, and things have changed. "My daughters are both grown and doing very well for themselves, and over the years, my wife and I have become fairly comfortable - she will no longer need the death benefit from my policy," says Zachary. The Dings support and volunteer for a youth mentoring program, as well as their local museum. "We've always planned to leave something for important community organizations when we pass," says Zachary. After talking with their financial planner, Zachary decided to give his life insurance policy to his local community foundation. "After giving my policy, I received a significant charitable tax deduction," says Zachary. "We had owned the policy for so long that we could choose to stop paying the premiums and maintain a sizable death benefit." The Ding Fund will be established with proceeds from the insurance policy to benefit youth development and other community organizations.
Making a charitable gift of real estate through your community foundation can help you turn your property gains into community good. Gifts of real estate range from personal residences and vacation homes to rental properties, farmland, and commercially developed land, the value of which may exceed that of any other asset you own. With the help of your community foundation, you can use real estate to make a bigger charitable difference than you thought possible, avoid estate taxes, and minimize or eliminate burden placed on your heirs.
You may choose to give real estate outright and receive an immediate tax deduction, or retain the use of the property during your lifetime and make a planned gift to your community foundation. You may also choose to convert real estate into a stream of income for the rest of your life by establishing a Charitable Remainder Trust. Doing this lets you transform a low-yield asset into a higher-yield, income-producing asset and claim a tax deduction for the charitable portion of the gift.
A gift of real estate must be professionally appraised
to establish its fair market value. It is also
assessed for compliance with our acceptance policies
to make sure its resale will provide the appropriate
value to community.
A Donor Story: Real charitable value
Sandra and Cliff Stewart owned a summer home and had no heirs interested in inheriting it. At first, the Stewarts planned to sell the home and give the proceeds to charity. But after talking with their local community foundation, they realized that giving the home directly to the foundation would create the biggest, most effective gift, while providing the greatest benefits to them as donors. "It was a great option - we could give our house to charity through the foundation and start any type of fund, not to mention the tax benefits," says Sandra. The Stewarts learned they could also retain use of the home for their lifetime. "This way," Cliff explains, "we can spend our summers enjoying the home for the rest of our lives. And after our lifetime, the community foundation will use the proceeds to make grants from the Sandra and Cliff Stewart Fund."
Some donors may have an existing private foundation. In this case, donors may find many benefits to transferring the private foundation to an advised fund with the Community Foundation. Through a simple transfer process, donors can remain involved with their funds but without the administrative burdens. At the same time, donors can ensure that their intent, name and pattern of charitable giving are maintained - in perpetuity if desired.
We are ready to guide donors and their advisors through the private foundation transfer process. Please contact us for more information.