You can make a gift of cash or by check to any fund at the Community Foundation and receive the maximum tax advantage under federal law.
If you are over the age of 70½, you can transfer up to $100,000 directly from your individual retirement account (IRA) to the Community Foundation of North Florida tax-free. If you are 72 or older, this gift will count toward your required annual minimum distribution.
We can make your charitable IRA transfer easy, flexible, and effective. Distributions can help satisfy your required minimum distribution and reduce your taxable income. Your qualified charitable distribution incurs no federal income tax, and the asset is no longer part of your estate for tax purposes.
How it Works
- You work with your IRA administrator to transfer up to $100,000 from your IRA directly to the Community
- You must be 70½ or older at the time the gift is made.
- If married, each spouse can transfer up to $100,000 from their individual IRA to the Community Foundation.
- Distribute your gift directly to an established Agency Fund, Community Foundation Fund or create your own named fund (Designated or Field of Interest fund types allow for maximum tax advantages).
Your gift of stock qualifies for an immediate tax deduction based on the full market value. By making a stock gift, 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.
How it Works
- You make a gift of appreciated stock to the Community Foundation and we immediately sell it.
- Your gift can be placed into any of our charitable For example, you may use your gift to create a donor advised fund in your name and stay involved in recommending uses of the fund or give directly to an Agency Endowment.
- Your gift qualifies for a tax deduction based on the full market value of your stock; you avoid the capital gains
Make our community the full or partial beneficiary of a life insurance policy. It’s a simple way to make a major gift to the community that you call home (with possible tax benefits during your lifetime).
Naming the Community Foundation as a beneficiary of your retirement account (401(k) or IRA) is an easy way to make a significant, lasting gift that may not be possible during your lifetime and with no need to modify your will or estate plan.
Designate a gift amount or portion of your estate to the Community Foundation in your will or trust. In some cases, a substantial reduction in federal gift and estate taxes.
Charitable Lead Trust: A gift of cash or property to 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 transfer to family members or other beneficiaries.
Charitable Remainder Trust: A gift of cash or property to a trust that pays annual income to you (or other beneficiaries) for life. After your death, the remainder of the trust transfers to the Community Foundation and is placed into a charitable fund you have selected.
Donors that have an existing private foundation may find many benefits to transferring their private foundation to an advised fund at 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.
The Community Foundation is ready to guide donors and their advisors through the private foundation transfer process. Learn more here.
A Legacy gift, also known as a planned gift, offers donors a way to make a gift to the Community Foundation of North Florida during or after their lifetime. Individuals who have named the Community Foundation as the beneficiary of a legacy gift are recognized in the Legacy Society.
Legacy Gift Types
From simple to very complex, there is a legacy giving option for every situation.
- Bequest through your Will or Trust
- Beneficiary of a Retirement Plan or Life Insurance Policy
- Charitable Lead Trust
- Charitable Remainder Trust
How it Works
- Name the Community Foundation as a beneficiary of your estate, will or insurance policy.
- A succession plan or revocable fund agreement will be completed outlining your Legacy gift intent.
- Leave your Legacy gift to an existing fund, including your own, or to an Agency endowment or any Community Foundation endowment.
- Create a Legacy fund to benefit specific nonprofit organizations or areas of interest
- Receive recognition in the Community Foundation’s Legacy Society.