Types of Gifts
If you want to establish a fund now and see your charitable dollars at work, creating a fund provides the satisfaction of giving while simplifying transactions and record-keeping. You can use your fund to support charities here in Central Georgia or anywhere in the country. A fund can be established in your name, anonymously, or in the name of a loved one whom you wish to honor or memorialize.
This is the simplest and most convenient way of giving through the Community Foundation. Cash gifts qualify for maximum deductibility for federal income tax purposes.
Publicly Traded Securities and Mutual Fund Shares
Gifts of appreciated securities provide double tax savings to the donor. You take an immediate charitable tax deduction for the current fair market value of the donated securities and no capital gains tax is paid on the contribution.
Homes & other Real Estate
Gifts of appreciated real property (homes, land, etc.) offer unique tax advantages. If you are planning on selling real property, it could be especially convenient to donate a portion of the undivided interest in the real estate to your charitable fund. In this way any taxable gain realized on the sale of the real estate could be offset by the charitable donation. Because gifts of real estate require certain procedural steps, please call the Community Foundation in advance.
Gifts of life insurance policies may be made by naming the Community Foundation as the owner and beneficiary. The donor receives an immediate tax deduction approximately equal to the cash surrender value of the policy. Any premiums thereafter paid by the donor are deductible for income tax purposes. The proceeds after the death of the insured are not taxable as part of the donor's estate.
We will work with you and your professional advisor to create estate planning strategies that will preserve your charitable wishes long beyond your lifetime. Through a variety of deferred options, you and your loved ones can enjoy financial security and provide resources for community needs to serve generations to come.
Donors can specify a gift in their will or revocable trust. All assets are retained during life and the donor’s estate may receive a tax deduction for the bequest. The gift is made upon death which creates a permanent endowment fund at the Community Foundation.
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Charitable Remainder Trust (CRT)
Create a CRT, name a fund at CFCG as the beneficiary, and receive an immediate tax deduction. Receive income from the gift for life or for a specified number of years, after which your fund will receive the remaining assets.
Charitable Lead Trust (CLT)
Provide income to a designated charitable fund for a period of years, then direct the remaining – often appreciated – assets back your beneficiary. A CLT allows you to pass assets on to your children or grandchildren while minimizing gift and estate tax liability.
IRA / Retirement Plan
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. And by using an IRA to establish a Donor Advised Fund, your family can remain involved in the grant making process.
Deed of Residence Retaining a Life Estate
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.