Your gift can take many forms. It all depends on which is best suited to your goals and assets. For questions, please call (316) 283-5474 or e-mail Angie Tatro.
Cash is easy, direct, and fully tax-deductible as allowed by law. You can make your gift by check.
STOCKS, BONDS, and MUTUAL FUNDS
These tools enable you to avoid the tax on any appreciation, yet still receive a tax deduction for the full market value. The foundation, as a tax-exempt charity, may sell the securities and avoid taxes on the appreciation.
Land or a building can be given in a number of ways and allow you to avoid taxes on the appreciation. The donor must obtain a qualified appraisal to establish the gift value.
Personal property such as automobiles, art work, jewelry, valuable collectibles, antiques and more can be donated to give you a charitable tax deduction for the full fair market value.
Whether through your will or a living trust, you can specify a dollar amount, property or a percentage of your estate go to charitable causes. Central Kansas Community Foundation must be named as the charitable beneficiary. A signed Donor-Advised Memorandum is required to name the charities and endowment funds that will benefit from your bequest.
Life insurance is an affordable way to give a significant amount. You can make the foundation the beneficiary of an existing policy or a new policy you may choose to purchase. A variety of options are available, all of which provide tax advantages and allow you to leverage your dollars for maximum impact.
Setting up your gift
You have many options regarding your gift to Central Kansas Community Foundation. You may make an immediate designated gift, give to an existing fund, establish your own fund, or establish a lifetime income plan. Please continue reading for details on each of these options.
IMMEDIATE DESIGNATED GIFT
You may elect to make a gift and designate how it will be used. Central Kansas Community Foundation then makes a grant to the charity or charities of your choice in the near future. Please see our list of funds under this Make a Donation link.
The principal is invested and earnings from the fund are distributed annually to the designated organization. This allows the fund to be a permanent source of funds for the charity. You may choose to make a donation to any of the permanent endowments on the CKCF fund list.
COMMUNITY GIFT FUNDS
All money contributed to these non-endowment funds is available to be paid out in grants. You may elect to give to the WOMEN’S COMMUNITY FOUNDATION, which awards grants to a variety of organizations in Newton and Harvey County, or the Central Kansas Kids Fund, which awards grants to charities that serve children in the Central Kansas area.
ESTABLISH YOUR OWN FUND
You may wish to start a new endowment fund to benefit the charity or charities important to you, support a particular field of interest, or provide scholarship monies. The fund may be named in memory or honor of a loved one or influential person in your life. For more information about starting a new fund, click here.
ESTABLISH A LIFETIME INCOME PLAN
Lifetime income plan can be configured in countless ways and must be custom-made to fit your assets, goals and charitable intentions. Generally, they provide you an assured annual income for the rest of your life, and the remaining principal is donated to the designated charities at your death.
CHARITABLE GIFT ANNUITY
A Charitable GIft Annuity provides a set income for life and immediate income tax benefits when the donor makes an irrevocable gift to the foundation. Upon the death of the donor, the remaining value of the gift goes to the foundation’s unrestricted endowment or to charities or funds recommended by the donor.
CHARITABLE REMAINDER TRUST
also provides an immediate tax deduction when assets are placed into an irrevocable charitable remainder trust. In return, the donor receives income for life or for a specified number of years. Income can be based on a fixed percentage of the trust, which is valued each year, or a fixed annual dollar amount.
DEFERRED PAYMENT CHARITABLE GIFT ANNUITY
The charitable gift annuity functions much like an IRA and provides an immediate tax deduction. In exchange for an irrevocable gift, the foundation agrees to pay the donor a fixed annuity amount for life, starting one or more years in the future.
CHARITABLE LEAD TRUST
The lead trust provides significant estate and tax benefits. It is especially advantageous if you wish to pass funds on to your heirs. The donor places assets in a trust for a term of years, and income is paid to the foundation to be used as the donor recommends. When the term expires, the trust principal is distributed to heirs.
It is important to consult with an estate planning professional to determine what approach is best for you. See your advisor or call Central Kansas Community Foundation for information on complimentary estate planning services.