Frequently Asked Questions

What are the financial benefits and tax advantages of getting through a community Foundation?

The Community Foundation approach to planned giving offers a number of important financial benefits to donors. Because community foundations manage a large number of unrestricted and discretionary funds, administrative costs and service fees for any one fund is minimized less overhead cost to the donor’s fund. Another important advantage is that Federal tax code provided significant incentives for contributions to a community foundation.

Explain the difference from private, family foundation. Does this have importance for my taxes?

Community foundations combine the tax advantages of a public charity with the lasting quality of a private foundation. Gifts of cash and ordinary income property to a community foundation are deductibles up to 50% of adjusted gross income versus 30% for a private foundations. Gifts of appreciated property can be created for 30% versus 20% for a private foundation. There is no excise tax on community foundations as there is on private foundations, are community foundations do not have the payout requirements of private foundation. The most important quality may be flexibility, in design and in anticipating future needs.

Back to service list

:: :: :: :: ::