We make it easy for individuals and families to support the causes that matter in Orange and Sullivan counties and beyond. CFOS accept a variety of assets as charitable gifts, converting almost any resource into a means for philanthropy. Our staff is happy to assist you, whether you want to give immediately or through your will or estate. Call us at 845-769-9393 or email CFOS Director of Development, Megan Matthews at megan@cfosny.org.
We hope you were able join us for our recent Ways of Giving webinar. If not, please take the time to view the content from the outstanding presentation by Richard Shapiro, J.D., CELA, CAP.
Types of Gifts
Cash
Cash is an easy and convenient way for you to support worthy causes and can be made by writing a check or donating online through the Foundation’s website. You receive a full income tax deduction to the extent of the law for your contribution in the year you make it.
Stocks, Bonds and Mutual Funds
With appreciated securities—stocks or bonds that are now worth more than they were when you bought them or were given them— you may discover how you can give more at a lower cost than giving cash. The Community Foundation will liquidate donated securities and the value of the shares at time of sale will be contributed to the fund of your choice. In addition to receiving an income tax deduction, you also avoid paying capital gains tax on the appreciated value of the securities.
Real Estate
The Community Foundation considers gifts of real estate where there is a possibility of sale within a reasonable period of time or where there is significant charitable value and an income stream that supports the tax and maintenance liability. Because of the nature of real estate property and the uniqueness of each parcel of property, certain guidelines need to be considered in deciding whether to accept these gifts and are subject to review by the Executive Committee.
Life Insurance
Designate the Community Foundation as the owner and irrevocable beneficiary of a life insurance policy, and you can enjoy an immediate tax deduction as well as deductions on future premiums, and the policy proceeds will someday support nonprofits through your fund.
Bequests
Making a gift through your will is easy and may reduce your taxable estate. With this type of gift, you maintain control over your assets now and support the organizations that matter to you later. You can designate a gift of a specific dollar amount, a percentage of an estate, or the remainder of an estate after other bequests are made.
Retirement Accounts and Plans
Retirement plan assets are often one of the most advantageous gifts to give from your estate because they are taxed heavily if left to heirs. If you are over age 72 (70½ if you turned 70½ before Jan 1, 2020) you can give all or part of your Required Minimum Distribution (up to $100,000) as a Qualified Charitable Distribution (QCD) to any non-donor advised fund.
Contact us now to discuss your charitable goals to make an informed giving decision.
Community Foundation of Orange and Sullivan is not engaged in rendering legal, financial, or tax advice. Information in our publications and on our website is provided as a service to provide general information about charitable giving. Please consult your financial or legal advisor.
