Legacy Giving

The simplest way to make a lasting gift to the causes that are important to you during your lifetime is to make a bequest through your will or trust. 

By simply including information in your estate planning documents, you can easily establish a charitable fund (or add to an existing fund) that speaks to your charitable intentions. The bequest can be for a specific dollar amount, a percentage of your estate, or residue of the estate. 

The Community Foundation would be happy to provide you and your attorney with suggested language to include in your will or trust.

By naming the Community Foundation as a beneficiary of your life insurance policy, you can make a much larger gift than what you possibly could make during your lifetime.

There are several different ways you can gift a life insurance policy. You can irrevocably name the Community Foundation as the owner of an existing policy, deduct a calculated value of the policy as a charitable gift, or choose to name the Community Foundation as the beneficiary of a life insurance policy that you continue to own. 

Charitable gifts made to pay any future premiums are eligible for a tax deduction in the year the gifts are made.

Naming the Community Foundation as a beneficiary of your retirement plans - such as an IRA, Keogh, 401(k), and 403(b) - is an opportunity to avoid income and estate tax penalties while benefitting your community. 

These assets are the most heavily taxed; therefore it may be more effective for you to transfer assets to a tax-exempt organization, such as the Community Foundation, and leave assets not subject to income tax to your heirs.

A charitable gift annuity is a way for you and/or your spouse to receive a fixed and secure stream of income for life. You make a charitable gift (cash or securities) to the Community Foundation in exchange for the Foundation's commitment to pay a fixed amount to you for the remainder of your lifetime.  Gifts to a charitable gift annuity are irrevocable.

After all payments have been made, the remaining assets are then contributed to your fund at the Community Foundation to accomplish your specific charitable goals. We can provide you with your rate based on your age.

Making a gift to establish a charitable remainder trust allows you to support the community, retain an income stream, and receive a substantial charitable income tax deduction.  Gifts to charitable remainder trusts are irrevocable.

The trust pays either you or a designated beneficiary a series of fixed or variable payments for life, or for a fixed term (not to exceed 20 years), or a combination of the two. 

You also receive an immediate charitable tax deduction for the present value of the gift the year the gift is made. When the trust term expires, the remainder is then distributed into your charitable fund at the Community Foundation.

A charitable lead trust is the mirror image of a charitable remainder trust. Income off of the trust is paid annually to the Community Foundation to establish and build your charitable fund.  Gifts to a charitable lead trust are irrevocable.

When the trust term expires, the remainder is distributed to you, or more typically, your children, or other loved ones.