Who says cash is king? Non-cash gifts can have less impact on your current lifestyle.
And, most times appreciated assets receive a fair market value deduction and an elimination of capital gains tax if donated to a public charity.
Below are examples of non-cash assets given or intended to be given to The Community Foundation. The Foundation has also received gifts of copyright, patent payments and works of art. If you have unusual assets to give, please contact Liana Garcia, Director of Gift Planning, at 203-974-1646.
A donation by bequest
The second fund Helen Jones created at The Community Foundation was by bequest and established with proceeds from the sale of her home. Since it was created in 2011, the Helen W. Jones Fund has distributed more than $500,000 in grants to local nonprofits including Emerge Connecticut, Beth-El Center in Milford and Columbus House in New Haven.
Donating an Island
A pioneer in the local community for environmental preservation and education, Elizabeth Hird donated Outer Island off the coast of Branford to the U.S. Fish and Wildlife Service. Shortly before her death in 2002, she created the Outer Island Education and Research Fund at The Community Foundation and made a bequest of her house in Killingworth. Per her instructions, proceeds from the sale of her home were added to the Fund, which supports environmental education and scientific research programs and assures the well-being of migratory birds and other species.
Meet Christopher Getman and his 1941 Packard Woodie
If you’ve attended a Yale football game, you’ve likely seen Christopher Getman riding in his 1941 Packard Woodie with beloved companion and Yale mascot, Handsome Dan. Chris intends to leave both the Woodie and a 1929 Packard Phaeton to The Foundation through a Charitable Remainder Trust (CRT). The Christopher & Toddie (Evelyn) Getman Fund will be the beneficiary of the CRT to support the arts, with particular emphasis on the New Haven Symphony Orchestra.
Supporting youth and education through an estate fund
The Robert B. Dodds Estate Fund at The Community Foundation was created in 1996 with the sale of stock from a privately-held company. Per Robert’s wishes,14 organizations received grant distributions from the Dodds Estate Fund over a period of five years. When all was said and done, over $13 million was granted to nonprofits, largely in support of youth and education.
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