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 giving goals. At Marion Community Foundation, our professional staff and financial advisors can help you make arrangements for a wide variety of unique gifts.
Yes, cash is still accepted — as are checks and credit cards. Gifts can be mailed in, dropped off at our offices inside the historic Stengel-True Mansion, or made electronically via the secure, online credit card portal on our website. Click on the GIVE tab will to explore your options.
Donors 70-1/2 or older, can elect to have their annual required minimum distributions (RMD) from traditional IRAs sent directly to Marion Community Foundation. Although these direct IRA distribution gifts are not deductible on a tax return, by having them donated directly to the Foundation, they will not be counted as income for tax purposes. This is an especially good gift to consider for those who don’t itemize tax deductions.
Long-Term Appreciated Stock Gifts
Giving stock is really easier than one might think and it gives a double tax break to the donor — no capital gains tax on the appreciation and a deduction for the entire gift. Our staff will work with your financial advisor to help select stock(s) that will provide the most benefit.
Real Estate Gifts
Like appreciated stock, the gift of appreciated real estate avoids the capital gains tax and provides a charitable deduction for the full fair market value of the real estate. Cryptocurrency works much the same as 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 claim the capital loss on your tax return and get the charitable deduction for the cash gift.
Charitable Gift Annuities
Converting poorly income-producing assets, like a CD, into a Charitable Gift Annuity is a way to both create an improved income stream and a charitable gift. A CGA gives an immediate tax deduction and provides a set and steady income throughout the your lifetime; after which the remaining principal becomes a charitable endowment fund permanently supporting the community causes of your choosing.
Life Insurance Gifts
If you have a life insurance policy you no longer need, consider naming Marion Community Foundation as the 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.
Life Income Gifts
These are a little more complicated, so you may have to call us, but basically a Charitable Remainder Trust allows the transfer of 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. 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, which helps reduce income for those in high tax brackets. You keep the asset but direct the income to Marion Community Foundation.
Yes, Marion Community Foundation can even accept gifts of livestock and grain. Contact us for details.
Wills & Trusts
Not quite ready to make a gift at this time, but want to establish a legacy to the Marion community? You can easily make Marion Community Foundation the beneficiary of a will, trust, TOD or POD designation. Our staff 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.