Guide for Donors
Donors are people like you.
Community foundations attract charitable gifts from many
individuals organizations and businesses; they manage and invest these
funds; and they use the proceeds to make charitable grants. Anyone can
give.
Even the smallest gifts will be combined for professional management at
minimal cost. A larger gift can be held as a separate Fund in your name or
the name of someone you love. Grants from this Fund will always be made in
your name.
You may create a Fund in the Foundation during your lifetime or in your
estate. You may suggest the use of this Fund or leave the choice of
recipient to the Trustees of the Foundation.
Your gift to the Foundation receives the maximum tax benefits under
federal law.
The exciting thing about community foundations, the reason they exist, is
their ability to respond to changing conditions. As our community's needs
change, the Foundation's giving program can change
quickly enough to be effective, yet always reflect the wishes and intent
of donors.
Pick the Fund that suits you.
Almost any charitable purpose can be served through the
variety of Funds we offer. Most Funds are managed as perpetual endowments,
which means distribution from your Fund will go on forever in your name.
UNRESTRICTED FUNDS give the Foundation the flexibility to
respond to new needs or opportunities. You place no restriction on how
these Funds are to be used and authorize the Board of Trustees to make
decisions in your name.
FIELD-OF-INTEREST FUNDS support a broad area of concern such
as education, the arts, or human services. The Foundation makes grants to
the most appropriate programs within the field that you specify.
DONOR-ADVISED FUNDS may be established by living donors who
wish to be actively involved in the ongoing choice of grantees. You may
make gifts to the Foundation at a time convenient to you and suggest
grants to be made in your name from time to time in the future.
DESIGNATED FUNDS benefit one or more specific organizations
that you choose. The Foundation disburses the income of your Fund to these
organizations and monitor their activity to be sure that your wishes are
carried out.
Here's how to make your gift.
To make a donation, call the Foundation or talk
to your legal or financial advisor. Here are some good ways that you might
consider.
OUTRIGHT GIFTS are a simple convenient way to donate and
offer you the pleasure of seeing your gift at work during your lifetime.
Cash, appreciated securities or real estate are the usual gifts.
BEQUESTS of cash or property made through a will are easily
made and are free of estate taxes. You can name the Foundation as the
residuary beneficiary or name it in a charitable remainder trust created
by the will.
LIFE INSURANCE can offer an immediate tax deduction in the
amount of the cash value of the policy when the Foundation is named as the
irrevocable beneficiary. In addition, any premiums that you pay thereafter
are deductible as charitable gifts.
CHARITABLE LEAD TRUSTS name the Foundation as beneficiary of
income for a specific number of years, after which the corpus returns
to other named beneficiaries, such as children or grandchildren.
CHARITABLE REMAINDER TRUSTS enable you to provide a lifetime
income to yourself or a family member, with the remainder
passing to the Foundation.
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