Outright gifts can include cash, securities, real estate, and life insurance.
Gifts of Cash
A cash gift is the simplest way to establish a named fund or to add to an existing fund.
Gifts of appreciated securities (bonds and stock, including stock in closely held companies) also may be used to establish a fund or add to an existing fund. Such gifts often provide important tax advantages. The added benefit of giving appreciated securities is the avoidance of the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as with publicly traded stock.
Life insurance policies also can be used as charitable gifts. If you name our community foundation as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction, which usually approximates the cash surrender value of the policy. All premium payments made by you thereafter will be deductible as a charitable contribution.
If you have questions about outright gifts that have not been answered in this section, please click here to contact us for more information.