You have a wide variety of asset types that can be used to support your charitable giving through The Community Foundation. We can help you choose the one that’s just right for you. Contact us and let us help you get started!
|Consider making a gift of:||If you’re goal is to:||Then You Can:||And your Benefits are:|
|Cash||Achieve a charitable deduction||Transfer funds to us via check or bank wire||A charitable deduction|
|Stocks, Bonds, Mutual Funds||Avoid capital gains tax||Contribute long-term appreciated stock or other securities||A charitable deduction plus avoid capital gains tax|
|Retirement Account Assets||Eliminate the possible two-fold taxation on IRA or other employee benefit plans||Name your charitable fund the beneficiary of the remainder of the assets after your lifetime.||The ability to leave your family other assets that carry less tax liability.|
|Real Estate||Avoid capital gains tax on the sale of land or other real estate||Donate the property to the Community Foundation to benefit your charitable fund.||An income tax deduction plus reduction or elimination of capital gains tax.|
|Life Insurance Policies||Make a large gift with little cost to yourself||Contribute ownership of a life insurance policy you no longer need||Current and possibly future income tax deductions.|
|Retained Life Estate||Give your personal residence, but retain current use||Create a charitable gift now but retain occupancy for life.||Tax advantages plus continued use of the property|
|Gift of Personal Property||Share your enjoyment of a collection or other personal items.||Donate tangible personal property like an art or coin collection||A charitable deduction based on the cost basis value.|
|Bequests||Defer a gift until after your lifetime||Put a bequest in your will to benefit your charitable fund; cash, specific property, or a share of the estate.||Donations exempt from tax.|
Explore which assets will maximize your giving.
Cash gifts are fully deductible up to 50% of the donor’s adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five years.
Gifts of appreciated securities (stocks, bonds and most mutual funds) also provide tax advantages. If you have held the securities for one year or longer, the current value generally is tax-deductible up to 30 percent of your adjusted gross income, with a five-year carryover if the gift amount is more than the 30 percent limit. We can also accept closely held stock.
We can accept a gift of a house or other personal residence, farm, commercial building and income producing or non-income producing land. A gift of real estate you have owned for more than a year entitles you to a tax deduction for the fair market value of the property, and you avoid paying capital gains taxes.
Individual Retirement Accounts (IRAs) or other qualified retirement plans are often one of the best types of assets to leave to charity because they are taxed so heavily when left to heirs. When you leave retirement plan assets to a nonprofit––such as The Community Foundation––100 percent of the gift will be available to support your charitable interests.
When you name The Community Foundation as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction that usually approximates the cash surrender value of the policy. All premium payments made thereafter are deductible as a charitable contribution.
A charitable bequest to The Community Foundation enables you to retain control over your assets during your lifetime and support the community you love later. A charitable bequest can be a specific dollar amount, a percentage of your estate, or what remains after other bequests are made.
Charitable Gift Annuity
A CGA guarantees income for life with an immediate income tax deduction, and can support the causes that are important to you forever. Payments are based on your age: the older you are, the greater the annuity payment. You can also choose to receive an income tax deduction now and defer receiving the annuity payments until a future date of your choosing. After receiving annuity payments for life, the remainder interest may be used to establish a named charitable fund or be added to an existing fund. Learn more here.
Charitable Remainder Trust
A CRT is very flexible; payments may be made to you or another beneficiary for life, or a specified number of years. The income beneficiaries receive an annual amount equal to a fixed percentage of the trust’s fair market value, or a fixed dollar amount. A CRT may be set up during your lifetime or through your will.
A Charitable Lead Trust enables you to make significant charitable gifts now while transferring substantial assets to beneficiaries later. A trust is set up from which The Community Foundation receives annual payments for your life or for a specific number of years. These funds may be used to support nonprofits you choose or be added to an Advised Fund. When the trust terminates, the principal is returned to you or distributed to others you designate. The trust assets pass to the recipients at reduced tax cost—sometimes even tax-free.
With a Retained Life Estate Gift, you can give future ownership of your property to The Community Foundation and can continue to live in and fully enjoy your home (or vacation property) as long as you like. The gift’s “remainder interest” is a charitable contribution in the year the arrangement is made, which may result in a substantial income tax charitable deduction. When the life tenancy terminates, The Community Foundation becomes the owner of the property. The proceeds of the property’s sale may be used to establish a fund at The Community Foundation, or add to an existing fund.
For more information, contact:
Please Note: The purpose of this website is to provide general gift, estate, and financial planning information. The Community Foundation for Northeast Florida is not engaged in providing legal or tax counsel. For advice or assistance in specific cases or whether to make certain a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.