Suggestion for Donors

Community foundations provide donors with flexible, efficient, tax-effective ways to ensure their charitable giving achieves the greatest possible impact. Below are some of the basic facts about charitable giving and the types of gifts that donors may wish to consider. For any but the simplest type of gift, the Community Foundation recommends that donors consult their attorneys, tax advisors, or estate planners. Here are some ways gifts can be made to the Community Foundation.

Outright Gifts - This is a simple, convenient way to donate cash, securities, personal property, or real property to the Community Foundation and receive maximum tax advantages.

Bequests - A bequest of cash or property to the Community Foundation through a will is usually fully deductible for federal estate tax purposes. The Community Foundation can also be named as the residuary beneficiary of a donor's estate.

Life Insurance - By naming the Community Foundation as the irrevocable owner of a life insurance policy, donors are usually entitled to an immediate tax deduction in the amount of the cash value of the policy. Insurance premiums paid thereafter by the donor are deductible as charitable gifts.

Memorials and Honorary Gifts - Gifts can be made in memory of deceased persons or in honor of living persons as testimonials to their acheivements.

Charitable Lead Trusts - In this type of gift, the Community Foundation is named the beneficiary of income from a trust for a period of time, and then the trust assets are returned to the donors or their heirs.

Charitable Remainder Trusts - This trust enables donors to provide a lifetime income to themselves or beneficiaries (such as a child) and leave the remainder of the trust to the Community Foundation.

Private Foundation Transfers - As a public charity, the Community Foundation is in a unique position to assist private foundations. The Community Foundation can serve as a knowledgeable resource of local charitable organizations and their needs. There are also many benefits for a private foundation that terminates into a community foundation.