Gift Acceptance Policies
We all have to start somewhere, and knowing what we can say “ yes” to is an important part of that beginning.
Below you will find the website address to the Gift Acceptance Policies of The Community Foundation. If you do not have current policies in place, ours might be a good set to review and possibly adopt, at least in part; if you already have policies in place, you may want to compare them against your existing policies, to see where there may be overlap, and to identify areas where The Community Foundation can provide a solution in working with a donor. We are happy to review your current acceptance policies at any point.
Giving Guidelines [PDF]
If you don’t already have an account set up to receive readily marketable securities, you should take the necessary steps to do so. Gifts of appreciated stock are highly advantageous to the donor.
Depending on your financial situation, you could use gift acceptance policies that earmark bequests below a certain amount for unrestricted purposes and above a certain amount for endowment. An overwhelming percentage of gifts by bequest are unrestricted, making your policy an important strategic decision. There are many variations in gift acceptance policies for bequests and you will need to find one that works well for your organization, its governance and its fiscal health for the long-term.
Real Estate & Tangible Personal Property:
The expertise of The Community Foundation is availiable to you when donors inquire about making such gifts; either to walk you through the initial and necessary steps for your organization to proceed with (or decline in some cases) such a gift; or you can work in partnership with The Community Foundation, where working jointly with your donor to help the gift come to fruition and to establish a permanent endowed fund for your organization.
Life Income Gifts:
The Planned Giving Partnership with The Community Foundation is designed so that your donors can make gifts that pay them (or someone they choose) income from a gift before it benefits your organization through charitable gift annuities and charitable trusts.
Charitable Lead Trusts:
These trusts are most pertinent to donors with a very high net worth and extensive tax liabilities to give the benefits of a gift to your organization before the gift goes to heirs. The Community Foundation can play an advisory role in setting up this type of trust but the donor needs to work primarily with his/her professional advisors.
Fully paid up policies that the donor no longer depends on can easily be reassigned to your organization as the owner and beneficiary (policies that are not fully paid up should be carefully evaluated on a case by case basis).
IRA & Other Qualified Retirement Plans:
These are “light-lifting” legacy gifts for your donors. The administrative paperwork varies a bit from financial institution to financial institution but is fairly straightforward. The donor simply names your organization as a beneficiary of their plan, and can do so for a percentage, the entirety or a fixed dollar amount. Gifts of retirement assets are ideal charitable vehicles as they have tax ramifications if received by heirs.
Bank, Checking and Investment Accounts:
Again, this is a matter of updating paperwork with the financial institution and your charity can benefit directly when a donor names you as the beneficiary of an account.
Your organization may use The Community Foundation for any viable gift transaction within The Community Foundation’s gift acceptance policy. In most cases the gift will be used to set up or added to an existing endowment fund at The Community Foundation to benefit your organization. We are available, however, in an advisory role, for your donors who prefer to make planned gifts directly to your organization.
The Valley Gives Back™ website offers informative tools for a community-wide planned giving initiative.
Making a charitable gift of tangible personal property through The Community Foundation can help you take an asset you no longer wish to own and put it to work for community good.
You can make The Community Foundation the owner and irrevocable beneficiary of your life insurance policy and either give a paid-up policy or continue to pay premiums - all with tax benefits that you can enjoy during your lifetime. Learn more about gifts of life insurance.
Cash, usually in the form of a check, is an easy and convenient way for you to support worthy causes in the community. Cash gifts enable you as a donor to claim a current tax deduction of up to 50% of your adjusted gross income in any one year when you itemize deductions, with the excess carried forward for an additional five years. Learn more.
If you own highly appreciated stock, a pooled income fund may be an effective way to achieve your charitable goals, increase your income and save on taxes. Learn More about pooled income funds.
The Community Foundation accepts most securities as charitable gifts. Such gifts will be valued at the mean market value on the date of the gift. After the security is liquidated, the remaining value of the gift is available to support your charitable goals. Learn more.
You can place cash or property into a trust that pays a fixed amount to The Foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes. Learn more about charitable lead trusts.
You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to The Community Foundation and is placed into a charitable fund you have selected. You receive income tax benefits the year you establish your trust. Learn more about charitable remainder trusts.
You can make a gift of cash or property to The Community Foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life. Learn more about charitable gift annuities.
Making a charitable gift of real estate through The Community Foundation can help you turn your property gains into community good. The value of your real estate may exceed that of any other asset you own.