As a donor, you have several options for structuring your gifts depending on your individual giving needs and desired tax advantages. These options include Outright Gifts (cash, securities, life insurance), Memorial Gifts, Remainder Gifts, Life Income Plans, and Real Estate. Once your fund is established you can add to it at any time and in any dollar amount.
To have a personal conversation about the options available for you to give, please call the Community Foundation’s Director of Development, Jeff Pritchard at 253.383.5622 or send an e-mail to jpritchard@gtcf.org.
Outright Gifts
Cash: Cash gifts are fully deductible up to 50 percent of the donor's adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five additional years.
Securities: Gifts of appreciated securities (bonds and stock, including stock in closely held companies) may be used to establish a fund or add to an existing fund and often provide important tax advantages.
Life insurance: If you name the Community Foundation as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction. All premium payments made by you thereafter will be deductible as a charitable contribution.
Memorial Gifts
Funds can be established and contributions can be made to existing funds in order to honor a living person, memorialize deceased persons, or to commemorate anniversaries and other special events.
Remainder Gifts
Many donors choose to leave charitable assets upon their deaths including bequests, pension plan beneficiaries, and life insurance beneficiaries.
Life Income Plans
Charitable Remainder Trusts: A community foundation like ours can administer charitable and lead remainder unitrusts and annuity trusts, both of which pay lifetime income to you or other named beneficiaries.
Charitable Gift Annuities: This is a way for you to receive a guaranteed income for life and an immediate income tax deduction, while at the same time, leaving a legacy to the charitable cause of your choice.
Real Estate Services
The Community Foundation accepts gifts of real estate such as houses, other personal residences, farms, commercial buildings, land and income-producing property on a case-by-case basis. If the real estate has been owned for more than a year, the donor may be entitled to the same federal tax advantages available for gifts of securities.
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