What to Give

There are many ways to give to the community foundation besides cash. While cash is the simplest way to give to your favorite charity, there may be some tax benefits to giving other types of assets. Browse the different ways to give below.

Certain gifts may require review or approval by the Foundation as outlined in our Gift and Fund Acceptance Policies.

Real Estate Gifts of real estate, such as a house, commercial building, or farm land, can make a great gift to the community foundation. If you have owned the real estate for more than a year, you will receive a tax deduction for the fair market value of the property and will avoid paying capital gains taxes. Each gift of real estate is unique and will be reviewed on a case by case basis.

Generally, it is the Foundation’s policy to accept gifts of real estate only if they are to be sold with the proceeds used for a charitable purpose agreed upon by the donor and the Foundation.

Life Insurance Making a gift through a life insurance policy is an inexpensive and easy way to make a substantial contribution to the Community Foundation. Many people find that in later years, they don’t need all the insurance they did when they were younger. You can make a gift to the community foundation for your policy amount by naming the foundation as the owner and irrevocable beneficiary of your life insurance— you can either give a paid-up policy or continue to pay the premiums.

You receive a tax deduction for the approximate cost or fair market value, whichever is less. If the policy is paid up, you receive an immediate tax deduction. If it is not, you can claim continuing tax deductions on premium payments you make directly or through gifts to the Community Foundation.

Stocks, Bonds & Mutual Funds A gift of appreciated property in the form of stocks, bonds or mutual funds is a great way to support your favorite charity and receive greater tax benefits than a cash gift of equal value. You will receive a charitable deduction for the full market value of your property and also avoid capital gains tax. Potential estate taxes could also be reduced.

Closely Held Stock Closely held stock is a special way that business owners can give back to their communities. By transferring shares of your corporation to the community foundation, you will receive an immediate personal charitable income tax deduction while also avoiding the capital gains tax on the appreciated stock.

Tangible Personal Property Tangible personal property is defined as any property, other than land or buildings, that can be seen or touched. Examples include artwork, jewelry and gems, collectibles, boats, cars, tractors and aircraft, timber or business inventory and equipment. This is a great way to turn something meaningful to you into something meaningful for the community.

Grain & Livestock The gift of grain or livestock can have a significant tax savings for farmers and ranchers. When an agricultural producer transfers the legal ownership of grain or livestock to the community foundation before the commodity is sold or auctioned, the producer will not realize taxable income from the sale, minimizing taxes. The producer is still able to deduct the entire expense to produce the commodity.

401K and IRA Accounts Individual Retirement Accounts (IRAs) or other qualified retirement plans are often one of the best types of assets to leave to charity because they are taxed so heavily when left to heirs. When you leave a gift to the community foundation with your retirement plan assets, 100% of the gift will be available to support your charitable interests.

Upcoming Events

Jun
11
Mon
6:00 pm SPARC Grant Information Workshop @ Masonic Hall
SPARC Grant Information Workshop @ Masonic Hall
Jun 11 @ 6:00 pm – 8:00 pm
SPARC Grant Information Workshop @ Masonic Hall
Nonprofit organizations, government entities and others interested in applying for the new SPARC grant are invited to attend an information workshop on Monday, June 11, 6:00 pm at the Masonic Hall in Russell. Participants will[...]

Recent News

RCACF launches SPARC grant program

  The Russell County Area Community Foundation (RCACF) is pleased to announce the availability of a new grant program called SPARC - The Strategic Partnership for the Advancement of Russell County. This is RCACF's largest grant program to date, awarding $75,000 to $175,000 over a multi-year period toward a project that promotes significant economic development, community collaboration, and has long-term, measured impact. The new program is funded by the generosity of the Russell County Area Community Foundation for the broad benefit of Russell County. RCACF was established in 2001 to create a permanent source of philanthropy to address current and future community needs[...]

RCACF grants $28,711 to USD 407

The Russell County Area Community Foundation (RCACF) recently awarded $28,711 in grants to USD 407. "RCACF is pleased to partner with USD 407 to provide students and teachers grants that support a terrific learning environment," said Angie Muller, executive director. The school district will receive $18,000 to support the Small World Initiative, a research-based program from Yale University that helps students study microbiology, learn cutting-edge STEM applications, and increase their achievement at Russell High School. Russell High School was also awarded $6,820 to purchase equipment for Bronco Media so students can expand original content and events coverage to include sports, musicals, board meetings,[...]