Ways to Give
Preserve what you love so much for future generations. Give back.
Direct your gift to the causes important to you. Gifts to the foundation are credited as you designate. You may also make a gift in honor or in memory of a special person or event.
Cash is the simplest and most convenient way to give. It can be given in any amount, by anyone, at any time. Typically in the form of a check, a cash donation is fully deductible for federal income tax purposes up to 50 percent of your Adjusted Gross Income. Amounts given over and above this may be carried forward and deducted for up to five years beyond the year you make your gift. You also may use your Visa or MasterCard to donate online. Make a donation online. »
Give more to your charity and secure valuable tax benefits. You'll receive the most tax savings when you contribute securities with unrealized long-term capital gains directly to your endowed fund, instead of selling the assets and donating the proceeds.
Giving stock that you have owned for over a year is deductible in amounts up to 30 percent of your Adjusted Gross Income. Just as with cash, amounts exceeding this limit may be deducted for up to five additional years. You also avoid paying any long-term capital gains tax on the increased value of your stock. Other marketable securities, such as bonds, treasury bills, or mutual funds provide similar tax-saving advantages.
Real Estate and Other Tangible Personal Property
Gifts of real estate entitle you to a charitable deduction for the fair market value of the property. If you wish to donate a
and choose to live on the property for the rest of
your life, you will receive a current tax deduction for the future value of your gift.
Legacy Gifts (Planned and Deferred Gifts)
If you are looking to establish an estate plan or to revise an existing plan, why not suggest leaving a portion of your estate to your endowed fund as a legacy gift? Remembering charity in your will or financial or estate plan can:
significantly reduce your tax liability
preserve your charitable intent in perpetuity
produce a financial windfall for your favorite church, school, or nonprofit organization
when a life income plan is involved, provide added income benefits for you and your family
Types of planned and deferred gift vehicles include:
Life Insurance — Gifting a life insurance policy is a perfect option if the policy is no longer needed. You can take a charitable deduction approximately equal to the policy's cash value at the time you make the gift. If you are paying annual premiums, they become tax-deductible each year.
Consider giving assets such as qualified retirement plans to the foundation that would otherwise cost heirs more to inherit than other assets.
The ultimate tax load can be as much as 70 percent! Naming the foundation as a beneficiary of IRAs, 401(k), or 403(b) plans and leaving other assets to your heirs may be a win-win for all parties.
Retirement Plan Assets — Retirement plan assets left to your
heirs may shrink as much as 70 percent through taxation. Not only
does your estate pay tax on the plan's assets, but your heirs also pay income tax on the assets they receive. By naming the foundation as the
beneficiary of your retirement account, in part or in full, and by leaving other assets to your heirs, you actually can give more to your heirs and to charity. Because the foundation is a qualified public charity, no income tax would be due, and the assets will escape estate taxes.
You will still retain the
use of your assets during your lifetime but
keep any remaining funds
free from taxation.
You must list the Community Foundation of Chippewa County as
on your retirement plan. Do not designate the gift through your will;
otherwise the assets may be
included in your
taxable estate. As
always, we recommend you discuss your overall estate plan with
Bequests — Bequests through a will are one of the most effective methods of providing for your favorite charities while enabling you to keep assets or property during your lifetime. Plus, a bequest of cash or property through a will or living trust is usually fully tax deductible!
Gift a specific dollar amount or piece of property (i.e. real estate or stock). Your gift may be contingent upon satisfying other events, such as the death of your spouse. You can also choose to gift the remainder of your estate after other obligations are met, including all debts, taxes, and other bequests.
Charitable Lead Trust — 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 gift and estate taxes.
Charitable Remainder Trust— Place cash or property in a trust that pays an annual income to you (and/or another named beneficiary) for life. After your death, the remainder of the trust transfers to the community foundation and is placed into the charitable fund you selected. You receive income tax benefits the year you establish your trust and may realize capital gain and estate tax benefits as well. The trust may sell low-yielding assets and reinvest them so as to increase your spendable income.