There are several ways for your clients to give, either now or through their estate plans. Because we are recognized by the Internal Revenue Service as a public charity, they are eligible for the maximum tax benefits under law.
We are happy to talk with you and your clients about these opportunities or answer any questions. Email(fhorrell [at] cfgm [dot] org) Director of Professional Advisor Development Frank Horrell, CPA, CFP® or call him at (901) 722-0027 for more information.
Cash provides an immediate income tax deduction.
Appreciated securities in the form of stocks, mutual funds, bonds, or other securities held for more than one year help you avoid capital gains taxes and earn a charitable tax deduction based on market value. We accept both closely held and publicly traded stock.
Bequests. Establish a fund in your name (or in the name of your family) by designating a gift or portion of your estate to a donor-advised fund at the Community Foundation. In some cases, receive a substantial reduction in federal gift and estate taxes. A bequest is simple and a donor-advised fund can be advised by your heirs.
A life insurance policy is a simple way to make a major gift to the community that you call home, with possible tax benefits during your lifetime. Life insurance allows you to direct insurance policy proceeds to a fund at the Community Foundation. You may name the Foundation as owner and beneficiary of the policy, or you may retain ownership and name a fund at the Foundation as the primary or contingent beneficiary.
Turn property gains into community impact and get a tax deduction while paying no capital gains tax. The value of your real estate may exceed that of any other asset you own. Use it to establish or contribute to a Community Foundation fund; you can fulfill charitable interests and receive tax benefits. Real estate, if held for more than one year, usually provides the same tax benefits as gifts of securities. See our real estate checklist.
Choose our community over taxes. Naming a charitable fund as a beneficiary of your retirement account (401(k) or IRA) is an easy way to make a significant, lasting gift that may not be possible during your lifetime. It’s easy; no need to modify your will or estate plan. You may name the charitable interests you wish to benefit from your funds and name your heirs as advisors.
Partnership interests such as limited liability company interests and limited partnerships interests will be considered. The Community Foundation has accepted limited liability company interests and limited partnership interests.