What can you do to support the Park County Community Foundation?
A bequest to a fund at the Community Foundation is an enduring way to ensure that the charitable causes that have become important to you and your family over the years continue to be supported beyond your lifetime. Bequests can be made by will or revocable trust.
A donor-advised fund is a charitable giving vehicle administered by the Community Foundation and created for managing charitable donations on behalf of an organization, family or individual. A donor-advised fund offers the opportunity to easily create a low-cost and flexible mechanism as an alternative to direct giving or creating a private foundation. Donors enjoy administrative convenience, cost savings and tax advantages by con-ducting their grant making through the fund. Anonymity or recognition of gifts can be tailored to the donor’s wishes.
Because the donor-advised fund is housed at the Community Foundation, donors receive the maximum tax deductions available, while avoiding excise taxes. By creating an advised fund, you join a community of donors who are actively involved with the Foundation’s work through their funds. Donor-advised funds provide you with the opportunity to guide your own charitable beneficence to those matters that are important to you. Likewise, the Community Foundation can inform you of projects or organizations that we believe may be of interest to you.
Annual gifts and multi-year pledges are welcomed to provide support for the organizational planning, training and grant support provided to local organizations. Through your tax-deductible donation the Park County Community Foundation is able to be flexible in the scope of community organizations and programs it can support. This includes entities with a 501(c)(3) designation and those without this formal IRS designation that provide a community benefit.
In larger estates, retirement fund assets such as IRA proceeds distributed to beneficiaries may be double-taxed – first subject to the donor’s estate tax and then to income tax on beneficiaries. The Community Foundation can receive these types of assets free of estate and income tax.
The Park County Community Foundation can be named as the beneficiary of a life insurance policy. Even more advantageous, a donor can transfer ownership of a life insurance policy to the Community Foundation, receiving a charitable contribution for the lesser of the policy’s basis or its cash surrender value. Subsequent premium payments on the policy are also tax-deductible.
This option allows donors to leave a lasting legacy through the Park County Community Foundation. Planned gifts provide donors with a wide variety of opportunities that can help further their philanthropic goals and offer substantial tax savings. The Community Foundation offers a full array of planned giving options, assisting individuals and families to develop lasting legacies in support of the causes they care about.
Please Allow Us to Thank You
We respectfully ask that you remember the Park County Community Foundation in your will or estate plan. If you do create a bequest to the Foundation, please let us know so that we may be permitted to properly thank you.