An Overview of the Ways to Give:
An outright gift allows the donor to transfer cash or property to the CFGC. Such gifts may be deducted on federal income tax returns to the extent allowable by law. For gifts of appreciated property, the donor also avoids capital gains tax. Outright gifts may include cash, publicly traded securities, closely traded securities, tangible personal property, real estate, insurance and retirement assets such as IRAs.
Gifts of Interest Income
A Charitable Lead Trust can be described as "a gift you get back." It allows a donor to give the income from assets placed in a trust to the Foundation for a term of years, while retaining the principal for the donor, heirs or a third party on the termination of the trust. The charitable lead trust is often used as a "tax-smart" method of passing on assets to heirs.
Gifts of Remainder Trusts
The Charitable Remainder Trust can be described as "gifts that give back." Charitable remainder trusts make it possible for the donor to establish an irrevocable gift of cash or property, while retaining an annual income stream from the trust. Donors using this form of giving are allowed an income tax deduction for federal returns equal to the present value of the remainder interest.
Gifts by Will
Donors often make charitable gifts by will. Whether made on an outright, residual, or contingent basis, a gift by will can be a simple, effective way to realize your giving goals.
Gifts of Retirement Plan Assets (IRAs, 401Ks, 403Bs)
Qualified retirement plans can be subject to both an estate tax and an income tax when left to heirs. More and more donors are choosing to designate undistributed assets in qualified retirement plans to a charity, while leaving assets subject only to the estate tax to heirs.
Gifts of Insurance
Donors may use insurance to fund charitable giving programs. When a policy is given outright to the CFGC, the donor is allowed a charitable deduction equal to the cash surrender value of the policy. The premiums paid by the donor after the policy is assigned to the CFGC are also deductible as charitable gifts. The CFGC can also be named as a contingent beneficiary under an insurance policy.