Unique Ways to Give
Livestock and grain. Stocks. IRA distributions. Corporate matching gifts. Real estate. And, of course, cash. If you want to create a fund at Marion Community Foundation, we can help you – no matter how unique the gift.
The word “philanthropy” usually brings to mind the notion of giving money; but, cash, while easy, is far from the only way to reach your planned giving goals. At Marion Community Foundation, our professional staff and financial advisors can help you make arrangements for a wide variety of gifts.
Cash Gifts
Yes, cash is still accepted; as are checks and credit cards. Gifts can also be made electronically to any of Marion Community Foundation’s 200+ existing funds via our
secure, online credit card portal. Visit www.MarionCommunityFoundation.org and click on ‘Giving Opportunities’ to explore your options.
IRA Gifts
Assuming Congress extends last year’s rules, if you are 70-½ or older, you can have your annual required minimum distributions (RMD) from your traditional IRA sent directly to Marion Community Foundation. Although these direct IRA distribution gifts are not deductible by you on your tax return, by having those donated directly to the Foundation they will not be counted as income on your tax return. This is an especially good gift to consider if you don’t itemize your tax deductions. We will work with your plan administrator to help you accomplish this gift.
Long-Term Appreciated Stock Gifts
Giving stock is really easier than you might think and it gives a double tax break: no capital gains tax on the appreciation and a deduction for the entire gift. We will work with your financial advisor to help you choose the stock(s) that will provide the most benefit and help you through the simple process.
Real Estate Gifts
Like appreciated stock, the gift of appreciated real estate avoids the capital gains tax and you get a charitable deduction for the full fair market value of your real estate.
Gifts of Poorly Performing Stock
Using stock that has decreased in value is also a good way to make a charitable gift. You can then claim the capital loss on your tax return and get the charitable deduction for the cash gift.
Life Insurance Gifts
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. Finally, a new policy on your life naming us as beneficiary guarantees us a future gift as well. We will work with your insurance agent to easily accomplish this gift.
Life Income Gifts
These are a little more complicated, so you may have to call us, but basically a life income gift allows you to transfer assets now to Marion Community Foundation while you continue to receive income from those assets. This type of gift is a good fit for people who hold assets that would make beautiful gifts at some time in the future, but currently need those assets for income. Life income gifts can increase your income for life, give you 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 (CLT). These help reduce income for those in high tax brackets. In this situation, you keep the asset but direct the income to go to Marion Community Foundation.
Agricultural Gifts
Yes, we can even accept gifts of livestock and grain. Contact us for more information.
Wills and Trusts
If you’re not quite ready to make a gift at this time, but you do want to establish your legacy to the Marion community, you can easily make Marion Community Foundation the beneficiary of your will or trust. Options include designating a fixed dollar amount of your gift or a percentage of your 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 your estate planning documents to create the gift.
