Many charitably-minded people underestimate the range of assets they can use to support favorite public charities, including, in many cases, funds at the community foundation.
Here’s a simple guide to help you get started with your planning. And give us a call! We are happy to explain your options and let you know how your fund at the community foundation fits into the mix.
Cash
For itemizers, dollars are deductible up to 60% of adjusted gross income and excess deductions can be carried over and deducted in five future tax years.
Highly-appreciated stocks and other investments
Publicly-traded stocks and bonds are tax-effective gifts to charitable organizations, especially because capital gains tax can be avoided.
Qualified plans
Whether via a Qualified Charitable Distribution by a taxpayer who is over 70 1/2, or through a bequest, a qualified retirement plan can be an effective asset for charitable giving.
Alternative assets
Real estate, closely-held business interests, collectibles, and other nontraditional assets can frequently come with strong tax benefits when given to a public charity such as a fund at a community foundation or a favorite nonprofit.