Types of Gifts
Gifts can take many forms. In all cases, the donor can direct gifts to general areas of interest or to specific charitable organizations.The following guidelines for the acceptance of gifts by the Foundation help ensure that each gift is structured to maximize benefits to the donor, the Foundation, the community and the beneficiaries of the Foundation’s charitable programs and activities. These provisions are in keeping with the laws governing charitable gifts and the Foundation’s charitable purposes.
A cash gift — which can be made using a check or credit card—is the simplest way of making a charitable contribution. Cash gifts are fully deductible for federal income tax purposes. The maximum deduction in one year is limited to 50 percent of your adjusted gross income.
Gifts of appreciated securities — stocks and bonds, including stocks in closely held companies — provide important tax advantages to you. The full fair market value of the donated appreciated securities is fully deductible as a charitable contribution for federal income tax purposes. Unused deduction amounts exceeding this limit can be carried forward for up to five more years. In addition, you do not pay federal capital gain tax on the appreciated portion of the gift.
If you are interested in gifting real estate, contact Melissa Levesque at firstname.lastname@example.org.
Retained Life Estates
You can contribute a private residence, vacation home, or farm while retaining the right to live in and use the property.
Retirement Plan Assets
Using IRAs and other retirement plan assets is a thoughtful way to make a charitable contribution. It provides you a number of significant financial and tax advantages. Unlike many assets, retirement plan assets are potentially subject to both income and estate taxes. If you are 70 1/2 or older, you could transfer up to $100,000 annually against your Required Minimum Distribution and reduce the taxable balance of the IRA in your estate.
A gift of life insurance is another way to make a substantial contribution. By assigning ownership to Coastal Community Foundation, you can receive a tax deduction for the cash value of the policy and the premiums paid each year.
Gifts that Provide Income
There are several ways to make a charitable gift that will provide you with income during your lifetime. Please ask us for details on the various types of income-producing gifts, including Charitable Gift Annuities and Charitable Remainder Trusts.
Charitable Lead Trusts (gifts that pass an asset on to heirs)
The Charitable Lead Trust provides income to Coastal Community Foundation for a specific period of time and then distributes the remaining assets to you or others designated by you. There can be significant estate tax savings with this type of gift.
An excellent way to provide a gift after your life is by means of a bequest in your will or living trust. Setting up an endowment in your family’s name to support your favorite charities is a wonderful way to continue to support your philanthropic priorities in perpetuity.
A private foundation can make a direct gift or transfer all or part of its assets to Coastal Community Foundation. The identity and purpose of the original donor are preserved, and the donor or others designated by the donor can participate as fund advisors. The donors may also take advantage of our family philanthropy services that specialize in legacy planning and multi-generational giving. Because CCF is a public charity, there are no taxes to pay and we are responsible for all accounting and reporting requirements. Also, you have the assurance that a permanent nonprofit organization is in place to administer the fund forever. Donor-Advised Fund vs. Private Foundation (DOCX)
For specific instructions on contributing to your fund, contact Tess Martin at email@example.com.
If you’d like to learn more about the types of gifts we accept, contact Melissa Levesque at firstname.lastname@example.org.