Property You Can Use to Create Your Fund

Some people have asked if we accept only cash contributions. The answer is no. There are many ways to establish a fund. Some ideas you may wish to consider are listed here.

Cash

You establish Your Fund by giving a check to the Community Foundation. Your Fund grows through appreciation and through any additional contributions you may make. You receive the maximum tax deduction for your contribution in the year you make it. Any unused deduction can ordinarily be used over the five succeeding years.

Securities

You donate the securities to Your Fund. You get the maximum tax deduction, equal to the current value of the securities. If that deduction is larger than what you can use in the year of your gift, the excess amount may ordinarily be deducted over the five succeeding years.

If the securities are appreciated, you pay no capital gains tax. If you own depreciated securities, you may sell them, take the loss for personal income tax purposes, and contribute the proceeds to the Community Foundation.

You can start a named fund for as little as $5,000--using cash, securities, real estate, life insurance, art, or other assets.

In fact, as we mentioned before, there are so many ways to establish and add to Your Fund that you should consult your attorney, banker, accountant, or call the Community Foundation.

Real Estate

Your real estate holdings can also benefit charity. Gifts of long-term appreciated real estate offer advantages similar to gifts of appreciated securities. Real estate will be accepted by the Community Foundation if it is readily saleable and does not require management.

Life Insurance

You donate your life insurance policy to Your Fund. You receive an immediate tax deduction, usually in an amount equal to the cash surrender value. Your Fund grows through appreciation and through any additional contributions you may make. If you wish to keep the policy in force, your continued premium payments are also tax deductible.

Or, if you don't want to give up the policy, you can name the Community Foundation as a full or partial beneficiary.