Ways to Make a Gift
In addition to traditional gifts of checks and cash, the Cadillac Area Community Foundation may also accept a variety of gifts.
Donors have made charitable contribution with securities, closely held stock, real estate (including a residence), insurance policies, or variation combinations of assets. The full-market value of gifts or securities to a community foundation qualifies for a charitable deduction. Foundation staff will be glad to discuss proposed gifts with you.
A Charitable Remainder Trust makes payments to you and/or your beneficiaries for life. On your death or the death of your beneficiaries, the remaining trust assets pass to the Cadillac Area Community Foundation. If you feel you cannot afford to part with any of your cash securities at this time because you need income to live on, you should consider making a gift in trust, which will allow you to receive income from the property as long as you live, and your assets will eventually go to the Cadillac Area Community Foundation.
There are two types of Charitable Remainder Trusts–the Charitable Remainder Unitrust, which will pay a variable amount based on a fixed percentage of the annual valuation of the assets, and the Charitable Remainder Annuity Trust, which will pay a fixed amount annually until your death or the death of your beneficiaries.
Through a Community Foundation Gift Annuity, the donor transfers assets to the Community Foundation, which in turn guarantees to pay the donor or a named beneficiary a fixed income for life. The level of income is determined by the ages and number of beneficiaries at the time the contract is drawn. Annuity Gifts are placed in an annuity investment fund, backed by the assets of the Community Foundation, and upon death, are released for Foundation use as designated by the donor or the Community Foundation’s Board of Trustees.
A growing number of people are discovering that life insurance is an effective way of making a charitable gift to the Community Foundation. By assigning owernship of life-insurance policies to the Foundation, the donor receives an immediate income-tax charitable deduction in the amount of the present value of the policies. The proceeds after death of the insured are not taxable as part of the donor’s estate. New policies or existing ones which are no longer needed can also be given.
Many donors provide gifts by will or trust. Through a bequest provision, the donor guarantees financial resources to be of lasting benefit to the Cadillac community and also receives immediate personal satisfaction. Bequests to the Cadillac Area Community Foundation are deductible from state and federal estate taxes. This presents a significant advantage, for taxes on estates can be far more substantial than assumed. Through gifts of bequests, a donor designates a specific number of dollars, property, or a designated percentage of the estate to the Community Foundation through a will. The bequest may be unrestricted, designated for a certain use, or directed toward a testamentary fund that is established during the donor’s lifetime and executed through a bequest.
Regardless of the type of gift, the details of your gifts may remain confidential, and you may donate anonymously.
The National Standards Seal by our name indicates official confirmation from the Council on Foundations that we have met the most rigorous standards in philanthropy. It affirms our commitment to financial security, transparency and accountability. It says our grantmaking includes an open, competitive process designed to address the changing needs of our community. The National Standards Seal also confirms our history of honoring donors’ wishes.