Utilizing Assets

Working with the Community Foundation allows you to utilize a variety of assets as charitable gifts, converting almost any resource into means for giving. Online, in person or over the phone, we help you carry out giving in the way that is most convenient for you. Our staff does the heavy lifting so that you can focus on the most satisfying aspects of giving – selecting charities and dreaming up new ideas.

Explore Different Gift Options

Cash
Create or add to your fund quickly and easily by giving via check or wire transfer. Gifting this asset allows you to deduct your generosity completely, offset up to 50 percent of your Adjusted Gross Income (AGI) and carry any unused portion to the next year — for up to five years. Cash gifts also include money from sources such as bank accounts, matured certificates of deposit or money market funds.
Publicly-Traded Securities
Stocks, bonds and mutual fund shares are all good options to use in establishing or adding to your fund at the Community Foundation. Any appreciated securities owned for more than a year receive a deduction for their full fair market value and also avoid capital gains taxes. The resulting deduction can offset up to 30 percent of your Adjusted Gross Income (AGI).
Closely-Held Securities
Contributing Sub-chapter S Corporation stock and interests in limited liability corporations, limited partnerships, or family limited partnerships requires care, consideration and thoughtful planning. The Foundation knows the rules and handles all the details. You simply contribute the asset and receive a tax deduction of up to 30 percent of your Adjusted Gross Income (AGI) for the appraised fair market value.
Life Insurance Policies
The provisions you've made to protect your life can also provide lasting security for your community. Naming the Foundation as the owner and beneficiary of an existing or new life insurance policy will allow you to receive tax deductions — immediately and with payment of every premium you may make.
Real Estate
Real estate is also an option for achieving your charitable goals. Contributions of land, buildings, personal residences and farms owned for more than a year allow you to avoid paying tax on any of the capital gain, and in some cases you can even retain the ability to use the property. Similar to gifting securities, these donations allow you to receive the maximum tax deduction allowed by law.
Tangible Personal Property
Your personal property can become personal joy when gifting items such as cars, artwork or jewelry. These assets sometimes result in a tax deduction based on their current fair market value (FMV), although usually the deduction will be limited to the lesser of cost basis or FMV. Thus, in many cases it is better either to sell the property and give some or all of the cash proceeds or to leave it to charity through your will or living trust.
Retirement Plans
Retirement plans are great tools for establishing a charitable legacy. By naming the Foundation as the beneficiary of your individual retirement account, 401(k) or other qualified retirement plan, you avoid all taxes. In contrast, utilizing these assets to make current gifts can result in a net tax cost. For this reason, your best bet is to contact the Foundation before using lifetime distributions for current charitable gifts.
Other Nontraditional Assets
On occasion, annuity contracts issued by insurance companies and savings bonds can be used to make gifts benefiting the Community Foundation. When possible, it is best to arrange a beneficiary designation that will result in the Foundation receiving the remaining value upon your passing, because a portion of this can be taxable if received by a loved one. However, these gifts are complex, so it is best to work with the Foundation and a trusted advisor.