Creating a legacy at the Community Foundation empowers you to make a difference in the areas most important to you: those which speak to your passions and your heart. Your legacy can establish grantmaking funds for long-term impact, invest in the work of nonprofits making a critical difference locally, or help sustain the work of the Community Foundation for generations to come. You determine the purpose(s) of your charitable dollars.
When you make a legacy gift to us, you are invited to join our Legacy Society whose members share your affinity for lasting philanthropy. The Community Foundation can help you craft a legacy that allows you to speak to future generations, and support the things that matter most to you. A legacy may come in many forms and you may download further information regarding these options:
- Bequest – Reduces your estate taxes while supporting your community.
- Charitable Remainder Trust (CRT) – Increases your income, or provides income for another person. When your trust terminates, the remaining funds are used to support your charitable interests.
- Charitable Lead Trust (CLT) – Allows you to make significant charitable gifts in the near term while transferring substantial assets to beneficiaries; potential benefits are significantly lowered gift and estate taxes.
- Retained Life Estate – Ensures that you have lifetime security in a home that you gift to the Community Foundation as a charitable contribution.
- Life Insurance – Can be used as a charitable asset, making you eligible for a charitable tax deduction based on the current value of a paid-up policy.
- Retirement Fund Plan – Can be used to support charitable interests while achieving significant tax advantages for your heirs.
- Real Estate – Entitles you to the same federal tax advantages as gifts of securities (for the fair market value of the property), eliminating capital gains tax.