Create a Fund

Start Your Own Fund Through the Community Foundation
Our Friends of the Greenway Fund supports recreation infrastructure like the bike path1452 copyfb Give back and make a lasting difference in your community by establishing your own fund to support the things that matter the most to you. The Community Foundation has the resources and expertise to help guide your through the entire process. Getting started is simple!

We make the process easy with 3 steps:

Step One: Determine the assets you wish to use to start your fund. Examples of assets typically used include: cash, publicly traded or closely held securities, real estate or personal property. An outright gift accomplishes two important tax objectives: a charitable income tax deduction in the year of the gift and the reduction of the gross estate for future estate planning purposes. In addition, donors eliminate capital gains taxes for gifts of appreciated property.

Consider giving through your will. A bequest is the simplest way for many donors to make significant, lasting gifts to their community and reduce the federal estate tax and the inheritance tax due at the donor’s passing. Consider directing a percentage of your estate to the Foundation in your will.

Or, use your life insurance policy to make a charitable gift. Name the Foundation as a beneficiary or as a partial beneficiary of your policy. Or take out another policy to benefit the Community Foundation. Premium payments are tax deductible.

Consider receiving income now to help a charity in the future. Make a tax deductible gift to establish a Charitable Remainder Trust or a Gift Annuity now and you’ll receive income for a number of years or for life. The Foundation receives the remainder or the trust at your death.

Perhaps you’d like to help a favorite charity now and leave money to your heirs. Make a tax-deductible gift to open a Charitable Lead Trust now and the Foundation will receive annual payments to support a permanent fund in your name. You heirs receive the trust’s balance at your death.

Or would you like to live in your house now and give it to charity? With a Life Estate Agreement, you can donate your home, farm, or vacation property and keep the right to live there. You’ll benefit from the income tax deduction now. On termination of your interests, the Foundation will sell the property and establish a Charitable Fund with the proceeds, simplifying your estate for heirs.

If you wish to donate your IRA/Retirement Plan. Simply name the Foundation as the beneficiary of your IRA/Retirement Plan or as a partial beneficiary.

Step Two: Choose a name for your Fund. Many choose to name their fund “The (Surname) Fund.” Occasionally donors wish to remain anonymous. If this is the case, contact the Foundation staff for help with naming your fund so it reflects your interests and intentions while keeping your name private.

Step Three: Lastly, choose what you would like to support and for what length of time. Our staff and financial advisors can help you determine these goals with a series of questions, putting your philanthropic goals in action.

The above steps are a general guideline to help you determine your philanthropic legacy. Meeting with our Director after giving your goals consideration is a great way to begin your philanthropic journey. Don’t hesitate to contact our office at (701)746-0668.