Generosity in Many Forms
The word “philanthropy” typically brings to mind the notion of giving money; but, cash, while easy, is far from the only way to reach your giving goals. At Marion Community Foundation, our professional staff and financial advisors can help you make arrangements for a wide variety of gifts.
Cash
Yes, cash is still accepted — as are checks and credit cards. Gifts can be mailed in, dropped off at our offices, or made online via the GIVE tab on our website —
www.MarionCommunityFoundation.org.
IRAs
Donors 70-1/2 or older, can have their annual required minimum distributions (RMD) from traditional IRAs sent directly to Marion Community Foundation. Charitable gifts such as this reduce your income for tax purposes, and are an especially good gift to consider for those who don’t itemize tax deductions. Read More on IRA gifts.
Stock
Giving stock is really easier than one might think and has significant tax advantages — no capital gains tax on the appreciation and a deduction for the entire gift. Read More on Stock gifts
Life Insurance
If you have a life insurance policy you no longer need, consider naming Marion Community Foundation as the owner and beneficiary of the policy. By doing so, you receive a charitable deduction for the cash value or the adjusted basis. Premium payments can also be deducted as a charitable gift. A new policy naming us as beneficiary guarantees a future gift as well. We will work with your insurance agent to easily accomplish this gift.
Real Estate
Like appreciated stock, the gift of appreciated real estate avoids capital gains tax and provides a charitable deduction for the full fair market value of the real estate.
Annuities
Converting poorly income-producing assets into a Charitable Gift Annuity is a way to both create an improved income stream and a charitable gift. A CGA provides a set and steady income throughout the donor’s lifetime; then, the remaining principal becomes a charitable endowment fund, permanently supporting community causes of your choosing.
Life Income Gifts
A Charitable Remainder Trust allows the transfer of assets now to Marion Community Foundation while the donor continues to receive income from those assets. This type of gift is a good fit for people who hold assets that would make impactful gifts at some time in the future, but currently need those assets for income. A Charitable Remainder Trust can increase income for life, give a generous charitable contribution for the year of the gift, and, if the gift is stock, avoid capital gains taxes. Another option is a Charitable Lead Trust. These help reduce income for those in high tax brackets. In this situation, the individual keeps the asset but directs the income to Marion Community Foundation.
Agricultural Gifts
Assets such as livestock and grain can be used for charitable gifts.
Wills & Trusts
Donors who are not quite ready to make a gift at this time, but want to establish a legacy to the Marion community, can easily make Marion Community Foundation the beneficiary of a will, trust, TOD, or POD designation. Options include designating a fixed dollar amount of the gift or a percentage of an estate. Either way, we will work with your attorney and financial planner to ensure this is an easy process and that the correct language is used in estate planning documents to create the gift.
Recurring Automatic Donations
Marion Community Foundation now offers an automatic monthly payment option. This is for the donor who wants to give regularly and/or spread out charitable gifts throughout the year. Authorization forms are available upon request and allow you to set up an automatic transfer from your bank account directly to your charitable fund(s) at Marion Community Foundation.
Read More about Recurring gifts
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