Gifts of any size are welcome! You may give a donation of any amount at any time and designate the Fund of your choice. Minimums are required to start or fully endow a new Fund. Until Fund minimums are met, no distributions can be made.
All gifts are tax deductible.
Gifts of Cash
A gift of cash is the simplest way to establish a Named Fund or to add to an existing fund. Cash gifts are generally fully deductible up to 50% of the donor’s adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five additional years.
Gifts of publicly traded securities are accepted. A donation of appreciated stock can be one of the most cost-effective donations as you can avoid the capital gains tax on the appreciated portion of the gift. The fair market value is generally deductible as a charitable contribution up to 30% of your adjusted gross income. As with gifts of cash, deduction amounts exceeding this limit may be carried forward for up to five additional years. You can transfer the stock directly to the Foundation’s account by having your broker call us for transfer information. Detailed acknowledgements are supplied for these transfers.
Gifts of closely held stock, real estate, life insurance and other assets may be accepted following Community Foundation review. You should discuss the maximum tax deduction allowed by law for all gifts with a tax professional.
You can be assured that your charitable wishes will be fulfilled by meeting with Community Foundation staff to discuss your planned gift. All discussions are confidential, and it is understood that you may change your plans at any time. If you wish, we will meet with you and your professional advisors. See Planned Giving for more information.
Bequests and Retirement Funds
The simplest way to make future gifts is through your will, revocable trust or retirement fund. You retain full ownership and control of your assets during your life, and the gift comes to the Community Foundation upon your death. There is the added benefit of an estate tax deduction for the value of the gifts.
Life Income Gifts
The Community Foundation has established Charitable Gift Annuities which provide the donors with income for their life time, from tax advantaged gifts made to the Community Foundation. Upon their death, the amount left from their gift can be used to establish a Fund in their name. Additional details are available by calling the Community Foundation.
Community Foundation of Middlesex County does not give tax advice and recommends that donors consult with their own tax advisor for guidance.