Legacy / Planned Giving

The most common way to make a lasting gift.  Any type of fund can be the beneficiary of a designated gift through your will. 

In exchange for a gift, usually cash or stock, the Community Foundation pays the donor (and/or the donor’s spouse) a fixed amount on an annual basis, usually for the life of the donor.  After death, the remainder can be used as a memorial fund to benefit charities of the donor’s choice.

A beneficial life income plan that allows for an immediate income tax deduction, reduction in estate taxes, a way to generate more income from investments, provide for a spouse and possibly eliminate capital gain taxes.  Along with all of these benefits, you are also able to make a gift that will benefit charities of their choice in perpetuity.

Enables donors to make significant gifts into a trust that pays annual income to the Foundation while eventually transferring substantial assets to beneficiaries that may benefit from lowered gift and estate taxes.

You may deed your home (or other real estate) to a fund at the Community Foundation, retaining a life estate. You will be entitled to a current year charitable income tax deduction even though you will continue to live in your home for the rest of your life and the value of the house will be excluded from your taxable estate.

If you have already created a sound estate plan that achieves all objectives and takes care of your family, using an IRA to make a current gift or a gift-by-will could avoid both income and estate taxes. A current gift of your IRA can be used to establish a Designated Fund to support a specific charity or charities of your choice. A gift of your IRA in your will can be used to establish a Donor Advised Fund which will allow your family to remain involved in the grant making process into perpetuity.