Community Foundation of White County
Anyone can make a gift to any community foundation fund at any time!
There is no minimum contribution to existing funds, which offers great opportunity for everyday people to
lead and strengthen our community through charitable giving.
If you desire, your gift may be made in memory of or to honor a person, event, organization,
or the community at large.
There is no minimum required in order to establish a fund; however, we ask that donors commit to gifting at least $5000 within the first five years; no disbursements (grants) will be awarded from the fund until its 3-year trailing average balance is $5000. The minimum for scholarships or field-of-interest funds is $25,000.
An outright gift of cash to CFWC -- to support an existing fund or establish a new one-- is a simple and convenient way to contribute.
Gifts of appreciated stocks, bonds, or other property are extremely popular, particularly because they may provide significant tax benefits. A charitable gift of these assets, made directly to the Foundation (i.e. not passing through your hands) generally will allow you to take a charitable deduction on your income taxes for the full market value of the asset as of the date of the gift. You also may avoid significant capital gains taxes. A gift of appreciated securities is often much wiser than a gift of cash; it may, in fact, enable you to make a larger contribution to the Foundation at a reduced cost to you, benefitting you, the Foundation, and your chosen charitable cause.
The simplest and most common way to leave a legacy gift is to designate a specific gift amount or a percentage of your estate to CFWC. Fund agreements to benefit your selected charitable interests can be written and signed now, to take effect upon your death; those agreements may be amended to address new opportunities during your lifetime, if desired. A bequest is a wonderful way to leave a permanent legacy of your lifetime interests and values.
LIFE INSURANCE POLICIES
Whether it’s a policy you already have but no longer need, or a new policy you buy for the specific purpose of making a future gift to CFWC, life insurance can be a very helpful gifting tool. Depending on the gift arrangement, you may receive an income tax deduction for the policy’s cash value and any premiums you pay in the future.
RETIREMENT PLAN ASSETS
Qualified retirement plans can be expensive assets to pass on to your children: they can carry a significant income tax liability, so a discussion with your financial planner and attorney is advised. Naming CFWC as a beneficiary of your retirement plan may reduce or avoid income taxes, leaving less highly-taxed assets available for your children and providing more for charitable causes in White County than you may have thought possible!
Congress has provided a very beneficial tool for charitable donors who hold Individual Retirement Accounts. The IRA Charitable Rollover allows people age 70½ or older to make tax-free gifts directly from their IRA to a public charity such as CFWC, up to $100,000. Such gifts are excluded from your gross income and can count toward your minimum annual distribution.
Consider deeding your home or farm to CFWC now while retaining the use and enjoyment of the property for your lifetime; you could receive an immediate charitable tax deduction, and the value of your property or land would be removed from your estate. If you own real estate that has appreciated in value, a gift to CFWC may provide you with immediate tax relief and support -- and your gift supports your community…forever.
CHARITABLE REMAINDER TRUST
A charitable remainder trust names the community foundation as trustee and ultimate beneficiary of trust assets; you receive an immediate tax deduction for the charitable gift, and the assets are removed from your estate, avoiding potential estate taxes. You, or someone you name, receives income from your gift for their lifetime. Upon the death of the life income beneficiaries, the remaining trust assets are used to establish or support an endowment you have specified.
CHARITABLE GIFT ANNUITIES
Consider a gift that pays you back! A charitable gift annuity is a simple contract in which CFWC, in return for a gift of cash or other property, agrees to pay you a fixed sum of money for your lifetime (to one or two people = the annuitants). You receive an immediate tax deduction, and a portion of the income received is tax free.
PENNY PER BUSHEL
If you are a farmer with charitable interests, CFWC’s Share Your Harvest: One Penny Per Bushel program can help you support the charities you care about and provide tax benefits at the same time. To receive tax benefits, gifts must be made directly from the grain buyer to CFWC; call for information and enrollment forms.
We make a living by what we get. We make a life by what we give.