Ways to Give
Be a philanthropist! You don’t have to be a millionaire to help your community. To create a unique fund bearing the name and purpose you select, a gift of cash or assets (stock, real estate, personal property) valued at $5,000 or more needs to be given to the Community Foundation. If it is not possible to give a large gift or to donate the $5,000 all at once in order to establish an endowed fund, the Community Foundation’s Acorn program is an alternate way of giving.
Gifts to the Community Foundation can have a positive influence on a community’s path to the future.
In partnership with the Wabash Valley Community Foundation, anyone may become a philanthropist at any time and in any amount, through the many flexible giving opportunities it offers.
Gifts to the Community Foundation are as varied as the donors and the needs of the community for which they are intended. Your financial, tax or estate planner, assisted by the staff at the Community Foundation, can help you select which gift best suits your situation.
Real estate or personal property may be given to the Community Foundation. Of course, all gifts qualify for a charitable tax deduction in the year the gift was made.
Appreciated securities, when donated, allow you to avoid paying the capital gains tax while providing an accompanying income tax deduction for the current fair-market value.
Naming the Community Foundation as the beneficiary and owner of an existing or new life insurance policy allows you an immediate tax deduction which usually approximates the cash surrender value of the policy. Insurance premiums paid after the transfer of the policy can be deductible as a charitable contribution.
A charitable remainder trust allows you, or someone you choose, to receive an income for your lifetime by transferring assets to a trust, which qualifies for an immediate tax deduction. The amount of the deduction varies according to the age of the income recipient. When the trust ends, the remainder is placed in a permanent fund at the Community Foundation in your name, with the annual distributions made in accordance with your wishes.
Charitable gift annuities let you make a substantial gift while retaining the right to a lifetime income. The amount of income allowed is a fixed amount based upon your life expectancy. When the income is no longer needed, the remainder supports the charitable cause you have selected.
With a charitable lead trust, the Community Foundation receives an annual payment for your lifetime or for a specified number of years. When the trust terminates, the principal is returned to you or others that you have designated.
Private foundations and/or trusts often require time and money to manage. By transferring your private foundation and/or trust to the Community Foundation, all responsibilities for reports and administrative duties will be carried out by the staff of the Community Foundation. Since the Community Foundation does not pay excise tax, more income is available to benefit your favorite charities.
No matter the amount or type of resources you choose to donate, the Community Foundation will make it possible for you to have your own charitable fund without all the red tape. It will be invested by expert investment managers and monitored by a board composed of local leaders who know your community and will honor your wishes.
The Acorn program allows a donor to create a permanent endowment fund over time. A minimum contribution of $100 opens the account with a commitment on your part to have it grow to the required $5,000 within five years. As resources become available, you may make contributions to your fund. Family members and friends also may contribute to your fund in the Community Foundation.
Note regarding anonymous gifts: Not all donors wish acknowledgement for their philanthropic gifts. Some donors prefer anonymity. When that is the case, the Community Foundation protects the identity and confidentiality of the donor.