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

Dec
10
Tue
9:30 am Grant Writing Workshop
Grant Writing Workshop
Dec 10 @ 9:30 am – 3:30 pm
Grant Writing Workshop
Grants are a vital piece in your community’s funding puzzle and you can help. Please join us for a grant writing workshop Tuesday, December 10, 2019 from 9:30 am until 3:30 pm at the Dole-Specter[...]

Recent News

RCACF now accepting applications for Fall 2019 Grants

RUSSELL, Kan.—The Russell County Area Community Foundation is now accepting applications for fall grants. Online applications are due Tuesday, October 15, 2019. Last fall, Developmental Services of Northwest Kansas (DSNWK) was awarded a community foundation grant to purchase a new I-Lift 450 Power Lift and extend the wheelchair-accessible outdoor patio at the Pioneer Developmental Center, a day service program for individuals with intellectual and developmental disabilities. “DSNWK envisions a world free of barriers where people with disabilities are included in all aspects of community life. Unfortunately, getting outside hasn't been easily accessible and was often challenging for people with disabilities,” said grantee Cynthia Davis. “In this case, the patio extension has been a[...]

Nourish Your Community

Grain farmers have a vital role in moving lives forward; growing food that nourishes our community and the world. The community foundation, too, is committed to improving quality of life in the areas we serve, both today and in the future. Giving a gift of grain is a simple way to make a lasting difference. Gifts of grain are a unique way to make a charitable gift. Using grain to make a gift to the community foundation – which may be designated for the purpose you choose – can be a wonderful way to invest in the future while achieving tax[...]