Types of Gifts
Donors have many options for establishing funds in The Truman Heartland Community Foundation. Funds established can benefit any charitable organization throughout Jackson County that you choose. The Foundation can receive the following types of gifts:
Cash
Direct gifts of cash, in lump sum or pledged over a period of years, are a convenient and immediately satisfying way of establishing a fund. They also yield the highest tax deductions.
Appreciated Securities or Real Estate
Gifts of appreciated securities or real estate must be made prior to their sale, avoiding capital gains and providing a charitable deduction for their full market value. A different approach should be taken for property on which a loss has been realized, selling it first and then gifting the proceeds.
Life Insurance
By naming the Foundation as owner of the life insurance policy, the donor may name one or more charities to benefit from the proceeds. The Foundation will act in a stewardship capacity assuring donors that the charity will receive a long-term benefit in support of their missions.
Other benefits of gifting a life insurance policy include: deductibility of premiums to the extent allowable by law, replacement to heirs for property gifted to the Foundation either directly or through an estate, and benefiting multiple charities with a single gift.
Contact Us to view an illustration. View examples of life insurance gifts.
Gifts by Will
A donor's deferred gift by Will may be in the form of a specified amount or a percentage of the donor's estate or specific assets. Such a provision makes it possible for donors to designate a larger amount for community good than might otherwise be possible during their lifetime.
Charitable Remainder Trusts
Deferred gifts may be made in the form of life income arrangements, including annuity trusts and unitrusts. Substantial income tax and estate tax benefits are available to the donor, depending on the individual circumstances. Such trusts are also excellent vehicles for reducing taxes on IRA accumulations gifted to heirs and on company bonuses.
Contact Us to view an illustration or click to Create Your Plan.
Charitable Gift Annuities
This is a "split interest" gift. Donors interested in creating permanent endowment funds to benefit the community purchase a gift annuity from the Foundation, receive income during their lifetime, and direct that after death the remainder will be used to establish an endowed fund. Income payout rates vary with age but are generally higher than current CDs, bonds or money market rates. Unlike commercial annuities, charitable gift annuities yield an immediate tax deduction and payout income that is partially tax free. These annuities are backed by the full assets of the Foundation.
Contact Us to view an illustration or click to Create Your Plan. View examples of charitable gift annuities.
Charitable Lead Trust
This type of trust provides for payments to the Foundation for a stipulated period, free from federal gift and estate taxes. At the end of that time, the assets transfer to children or other designated beneficiaries and are generally taxed on the initial value of assets placed in the trust, not their later, appreciated value.
Contact Us to view an illustration or click to Create Your Plan. View examples of charitable lead trusts.
Gifts of Real Estate with Lifetime Occupancy
Donors may gift to the Foundation a primary residence or vacation property and receive an immediate tax deduction, while having the ability to continue occupying or using the property during their lifetime. Upon their death such property will be used to establish a permanent fund in their family name.
Contact Us to discuss a gift or real estate. View examples of gifts of real estate with lifetime occupancy.
Memorial Gifts
The Foundation's memorial giving program offers a way to pay tribute to a living individual or honor the memory of a loved one, while leaving a lasting legacy to the community.
Other Possibilities
The Foundation staff has special training in estate planning and deferred giving and is willing to work with prospective donors to identify vehicles that will achieve a donor's charitable objectives and provide maximum tax benefits.
Contact Us or call the Foundation at (816) 836-8189 to create a charitable solution that works best for you.
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