Planned Gifts

If your clients use long-term appreciated property (publicly traded stocks and securities, mutual fund shares, real estate, and/or closely held company stock) to establish their fund, they can often avoid capital gains taxes on that property. They can also receive the full, fair market value of the gift as their charitable deduction. Charitable gifts at death generally result only in a reduction of estate taxes, however, gifts of retirement plan assets, U.S. savings bonds and other untaxed assets will also result in income tax savings.

If you have any questions contact J. Larry Snipes, Director of Development, at 803.254.5601 x. 322 or larry@yourfoundation.org.

Deferring a Gift for the Future
If you have a client who is interested in deferring a gift for the future, the Community Foundation is happy to assist with all types of planned giving vehicles including the following:

Bequests. The simplest gift is a bequest in a will or trust that directs specific assets or a percentage of your client's estate to establish a fund or add to an existing fund.

Charitable Remainder Trusts. Contributing a gift to an irrevocable trust provides your client with fixed or variable payments for their lifetime or a specified term of years. The remainder goes to the Community Foundation and creates a permanent fund in a donor's name. These instruments enable your client to retain income from an asset while securing a charitable deduction and avoiding capital gains tax.

Charitable Lead Trusts. Your donor gives income-producing assets to fund a trust with income flowing to a named fund at the Community Foundation during the term of the trust. Afterward, the assets flow to their heirs free of tax on the assets? appreciation.

Charitable Gift Annuities. A simple contract guarantees your client and/or a second annuitant a fixed income in exchange for a gift to the Community Foundation. Annuity rates are set by the American Council on Gift Annuities. Donors may increase income while securing a charitable deduction and avoiding capital gains tax.

Life Estates. A donor may contribute a primary residence, a vacation home or a farm to the Community Foundation, but they retain the right to use it during their lifetime. Your client receives an immediate tax deduction and the property is not included in their estate.

Retirement Plan and Life Insurance Beneficiary Designations. Your client may create a named fund in the Community Foundation by making us the beneficiary of a retirement plan such as and IRA or a life insurance policy. At death, the assets transfer to the Community Foundation, avoiding estate and income taxes.

Living Legacy Society. Because one of the most celebrated and honored methods of giving is through a planned gift or bequest, and to honor those who remember the Community Foundation with a deferred gift, the Living Legacy Society was created.