Ways To Give
• Types of Funds
• Some Ways to Give
Some Ways To Give
- Outright Gifts - Cash, Securities, Personal Property, Real Estate, Life Insurance, Closely-held Business
- Bequest
- Gift Annuity
- Charitable Remainder Trust - Charitable Lead Trust, Retirement Plan Assets
| Every donor is special. Each individual, family, or organization we work with has unique charitable interests... and unique financial circumstances. We help you make the most of both to do lasting good work in your community. |
A variety of giving methods tailored to your unique situation. Gifts to the Community Foundation are fully tax deductible and possibly eligible for the Michigan Tax Credit.
Cash contributions are the simplest and most popular type of charitable contribution. Such a gift is considered to be made on the date it is delivered or postmarked. Matching gifts from employers can be double or sometimes triple the value of your giving. Your employer's human resource office will have the necessary matching gift forms for you to complete to send with your gift to the Community Foundation of Monroe County for verification.
Appreciated stock, bonds, closely held stock in family business and other property can be gifted to the Community Foundation of Monroe County. Such gifts of appreciated securities often provide the most favorable tax benefits to the donor. The value of donated stock is determined by the mean of the stock on the date of gift. Specific transfer directions can be obtained by calling the Community Foundation of Monroe County at (734) 242-1976.
Gifts of art, jewelry, antiques, rare books, manuscripts and other similar property may be donated to the Community Foundation of Monroe County. Such gifts should be accompanied by a letter of transmittal outlining the specific requirements regarding the use of the gift. When selecting this form of gift, it is the responsibility of the donor to provide an independent appraisal of the gift for tax purposes.
Gifts of real estate to the Community Foundation of Monroe County may provide a convenient way to support the Foundation. Real Estate may be given at the appraised value so the donor can receive a full charitable deduction and avoid capital gains. Real estate may be contributed as an outright gift or deferred. For instance, through a life estate agreement, a donor can make a gift of a home or farm while retaining life tenancy. Such gifts require extensive review of the property and approval by the Board of Trustees. The donor should provide a letter of transmittal with instructions for the use of the gift
Life Insurance can be used to create a major gift at relatively low cost to the donor. If the Community Foundation is named owner or beneficiary of a new or existing policy, the donor receives a tax deduction. Additional premiums paid through the Foundation are tax deductible, and proceeds pass to charity, free of estate tax. A special publication is available through the Foundation on all the advantages of contributing Life Insurance.
Gifts of a Closely-Held Business
Closely-held Business Interests can be gifted to the Community Foundation creating a donor advised fund. This can often help minimize the tax implications of the sale or closure of a business.
A bequest of cash, securities or real property can significantly reduce the taxes otherwise payable by your estate. Your heirs benefit and the Fund continues your good work in your name permanently, a living symbol of your care and concern for others. For information on specific bequest language contact the Community Foundation of Monroe County.
You can make a gift of cash or property to your community foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life.
Deferred gifts may be created so that you or someone you love can receive a lifetime income. At the death of the first beneficiary, the remainder of the trust passes to the Community Foundation to create a fund for whatever charitable purposes the donor has specified. These trusts provide current income tax deductions and/or estate tax deductions.
Pass Income to Your Children or Grandchildren--Charitable Lead Trusts provide income to a fund in the community foundation for whatever charitable purposes the donor has specified. After a set number of years, the remaining principal of the Trust, any accumulated appreciation, can then be distributed to children, grandchildren or other named individuals.
Utilize Retirement Plan Assets
A donor can use retirement plan assets [401(k), Keogh, 403(b)] to create a fund in the Community Foundation for purposes the donor has specified. Also, retirement assets combined with charitable remainder trusts and life insurance trusts can be a valuable way of maximizing benefits from retirement plans.