Ways of Giving
The Community Foundation accepts a wide variety of gift properties and urges its donors to visit with its staff and/or talk with their professional advisors to discuss ways to maximize the tax consequences of their gifts. Ways to give include:
A Simple Plan for Charitable Giving
We are right in the middle of the “year-end giving season,” the time of year when charitably inclined people make 80% of their gifts. Most likely, you have an overwhelming stack of requests from an array of nonprofits seeking your support. You are keenly aware that many worthy causes have suffered the consequences of our nation’s economic turmoil. Demand for services has increased dramatically. How do you decide who to support? Recently, the Community Foundation came across this “Forbes.com”** article. Its simplicity resonated with us, and we thought it might be helpful to you. No matter the size of your charitable budget, the article provides an easy, clear strategy for philanthropic giving. Enjoy!
The Community Foundation has more than 50 donor advisors and many of these generous people practice this same approach. Once the fund is established, our donor advisors select the specific charities they’d like to make grants to each year and the exact dollar amount for each. If you are considering this approach or would like more information on how we might be able to help you design your philanthropic plan, please do not hesitate to call Alison Woods (alison@cfect.org) or Kip Parker (kip@cfect.org) at 860.442.3572.
Finally, a reminder that in order to count for the 2011 tax year:
· charitable gifts by check must be received or postmarked on or before December 31st.
· Online gifts must be made before midnight on December 31st.
· And gifts of stock must be received by the charity on or before December 31st (check with your broker re: timeframe).
Wishing your family and you a happy holiday season and a healthy new year!
Cash
While a gift of cash is the simplest to make, many donors use other appreciated assets to establish a fund with the Community Foundation.
Appreciated Securities and Closely Held Stock
A gift of appreciated stock receives an income tax deduction equal to its current market value. There is no capital gain tax when stock is transferred. Gifts of closely held stock enjoy the same tax benefits as publicly traded stock.
Please click here for further information on how to make a gift of stock.
Bequests
One of the simplest ways to make a planned gift is to include a provision in your will that a share of your estate will be distributed to the Community Foundation for the purpose that you name. Click here for sample bequest language or call the Foundation to talk about options.
Real Estate or Personal Property
A gift of real estate can provide the perfect opportunity to make a substantial gift. Gifts of valuable items like jewelry, antiques, or art can also create significant legacies and lifetime income. Donors have an option to continue to live in their homes through a Life Estate arrangement.
Life Insurance
A donor can deduct insurance premiums by assigning a life insurance policy to the Community Foundation as owner and beneficiary. When the policy is redeemed, a permanent fund is created to support the donor’s charitable goals.
Assets of a Private Foundation
Family or other private foundations can retain all the essential prerogatives of their private foundation while being relieved of regulatory, administrative and excise tax burdens by creating a donor advised fund or a supporting organization at the Community Foundation. Click here for additional services available to private foundations.
IRA’s & Other Retirement Funds
Lessen the impact of income, estate and generation-skipping taxes on a family’s inheritance by naming the Community Foundation as the beneficiary, thereby removing the asset from the donor’s taxable estate. Facts about the Charitable IRA Rollover 
.
A Gift from Your Business
Corporate giving and annual charitable projects can be administered through the Community Foundation, which provides professional fund management and a positive profile for the company at low cost.