Gifts of Cash
To make a gift by check, please make the check payable to Community Foundation of Central Georgia, indicate the fund name on the memo line of the check, and mail the check to Community Foundation of Central Georgia, Inc. You may also give online using a debit or credit card via CFCG’s website. All gifts will be acknowledged by letter for income tax purposes. If you do not know the name of the fund to which your client would like to contribute, please call the Foundation at 478-750-9338.
Gifts Through a Will
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 to an existing fund or to create a new fund at the Community Foundation.Learn More About Charitable Bequests
Below is sample language to use when giving to an existing fund or creating a named fund at the Community Foundation of Central Georgia through a will.
“I give the following gift ___________________ [A specific dollar amount or a percentage of my estate] to the ________________ [Fund Name] of the Community Foundation of Central Georgia, Inc. a 501(c)(3) tax exempt nonprofit organization (Tax ID 58-2053465).”
“I give the following gift ___________________ [A specific dollar amount or a percentage of my estate] to the Community Foundation of Central Georgia, Inc. a 501(c)(3) tax exempt nonprofit organization (Tax ID 58-2053465), to be administered as a separate fund in accordance with and subject to the governing instruments of the Foundation.
It is my desire that the Fund established with this bequest shall be named the _____________________________________ Fund, and shall be recognized as such in all correspondence, reports and materials related to the Fund.
A spendable portion of the fund shall be advised by the following individuals:
[Insert the names and contact information of the people that you would like to advise your fund.]
A spendable portion of the fund shall be distributed annually to charitable organizations to fulfill the following charitable purpose of the fund:
[Insert Charitable Purpose: For example, is it to benefit the citizens of a particular place, such as a specific county, or is it to be used to support one or more specific nonprofit organizations, or is it to support a specific charitable purpose, such as disadvantaged children, or is it to be used for scholarships to help deserving student pursue higher education. If the fund is to support more than one organization, please indicate the percentage of the spending calculation that should be awarded to each organization listed.]
Gifts of Appreciated Securities
One of the most tax-efficient ways for your client to give during life is by donating long-term appreciated securities to create a fund at the Community Foundation. Advantages include
- When appreciated securities are given directly to the Community Foundation, the donor receives a tax deduction for the full fair market value of the securities — up to 30% of their adjusted gross income.
- Since the securities are donated rather than sold, the donor does not incur any capital gains taxes from selling the securities.
The stock that is given will be used to establish a fund for the donor to advise at the Community Foundation. This makes giving easy and effective, because the donor can make one transfer of stock and then recommend grants to their favorite nonprofit organizations. The nonprofit organizations benefit, too, because when the donor avoids capital gains taxes, they have more money in their fund for their charitable giving.
To make a gift of stock, please call the Community Foundation of Central Georgia at 478-750-9338 for DTC instructions.
Gifts of Retirement Assets
Retirement assets are heavily taxed when passed to individuals other than a spouse at death. So, charitable gifts of retirement plan and IRA proceeds have become a popular tax planning strategy. In addition to making IRA Charitable Rollover Gifts during life, your client can make their fund at the Community Foundation a beneficiary of their retirement plan assets or IRA. Simply add the Community Foundation of Central Georgia as a partial or full beneficiary of the retirement asset using the beneficiary update form.
Gifts of Life Insurance
A life insurance policy is an excellent way for your client to make a gift to charity. If they have a life insurance policy that has outlasted its original purpose, you may consider advising them to make a gift of the insurance policy.
Gifts of Real Estate
Your client can make an outright gift of real estate to CFCG to establish a fund. They may deed part or all of their property to CFCG. Typically, their charitable deduction will be based on the property’s fair market value, which must be established by an independent appraisal obtained by the donor. The holding costs of the property must also be covered by the donor or fund.
Charitable Remainder Trust (CRT)
If you create a Charitable Remainder Trust for your client, you can name a fund at CFCG as the beneficiary of the remainder. Your client will transfer cash, appreciated securities, real estate or other appreciated assets to fund the CRT. The trust sells the assets tax free and provides the beneficiary with income for life or a term of years, after which the remaining assets will be received by the Community Foundation for the fund. CFCG can serve as the trustee for a CRT as long as a fund at the Community Foundation is a beneficiary of the CRT. The fee CFCG charges to serve as trustee is 20 basis points (0.20%).
Charitable Lead Trust (CLT)
If you create a charitable lead trust for your client, the trust will provide income to the Community Foundation of Central Georgia to create a fund for your client for a period of years, then the remaining – often appreciated – assets will be redirected back the beneficiary of the CLT. A CLT allows you to pass assets on to your children or grandchildren while minimizing gift and estate tax liability.
Other Unusual Assets
In addition to these common charitable gifts, the Community Foundation is also poised to accept other unusual assets.