Donors can take advantage of several tools designed to enable them to make charitable gifts while enjoying tax benefits and preserving economic security for themselves and their loved ones. The Phelps County Community Foundation’s goal is to make gift giving convenient and flexible. Indeed, there are many ways to give, including:
The Phelps County Foundation now offers a convient and completely secure online giving option. To support the work of the Phelps County Community Foundation click the Donate button and follow the Razoo instructions.
Gifts of cash qualify for federal income tax purposes and are fully deductible up to 50% of the donor’s adjusted gross income in any one year.
The Foundation accepts giving cards as a means of making charitable gifts.
Gifts of appreciated securities, including stocks and bonds, can provide important tax advantages, since their full fair-market value is deductible as a charitable contribution up to 30% of the donor’s adjusted income each year. (Excess deductions may be carried over and deducted over a five-year period.) Most importantly, donors do not have to pay federal or state capital gains taxes on the appreciated portion of the gift. If you are interested in gifting securities, please contact the Foundation for assistance.
Marketable Real Estate
Gifts of residential and farm real estate may provide federal tax and estate tax advantages. Since these gifts are handled on a case-by-case basis, please contact the Foundation to discuss your intended gift.
The Foundation will consider gifts of personal property, such as art, valuable collections, etc. These gifts are handled on a case-by-case basis, so please contact the Foundation to discuss your intended gift.
By naming the Foundation in your will or living trust, you are able to reduce your estate taxes while supporting your community. Your bequest can be a specific amount, a specified percentage of your estate, or what remains after other bequests are made.
For those whose need for life insurance has decreased as they’ve become older, making a gift of a policy can be a convenient and effective way of supporting your Foundation. By transferring ownership of the policy to the Foundation, you become eligible for a charitable tax deduction based on the current value of your paid-up policy.