What The Community Foundation
Can Do For You
The foundation provides permanence. You are assured that your gifts will benefit the agencies and residents of your community in perpetuity. Your gift will be safe. As a permanent endowment, the principal will never be spent - but the earnings will be there to permanently support your community.
The community foundation provides flexibility. You may select from the types of funds described on this website. You may make your gift with cash; shares of stock, including those which have appreciated in value; closely-held stock; life insurance; or even real estate.
Gifts to the community foundation can reduce your tax burden. Income taxes are reduced through the deductions allowed by the IRS for contributions to a public charity, which is how a community foundation is classified. If appreciated assets are donated, in most instances you eliminate the capital gains tax you would incur if you sold the assets. And in the instance of contributing funds through your estate, estate taxes are avoided.
Your community foundation provides professional administration. For unrestricted and field-of-interest funds, the community foundation continually assesses the changing needs of your community and awards grants to agencies best addressing those needs, sparing you, the donor, of having to make such judgements. In the case of designated funds, the community foundation easily handles the issuance of annual grants to the organizations you specify when you establish the fund.
Your community foundation provides a perfect alternative to a private foundation. Donors who want the individual involvement of a private foundation without the accompanying administrative complexities, restrictions and expenses can accomplish the same result by establishing a donor-advised fund within the community foundation. Using a donor-advised fund within a community foundation also offers a donor more generous tax deductions than those offered to donors to a private foundation.
Establishment of a fund is easy, convenient and inexpensive.
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