The North Georgia Community Foundation enables individuals and organizations to easily and effectively support the issues they care about it – immediately or through their will or estate plan. Donors may contribute a variety of assets to establish a new fund or give to an existing fund at the Community Foundation.
Cash gifts are an easy and convenient way to support worthy causes through the Community Foundation. Donors may claim a tax deduction of up to 50% of adjusted gross income in any one year when deductions are itemized.
Appreciated securities donated to the Community Foundation are deductible at their full market value up to 30% of adjusted gross income each year when deductions are itemized. The Community Foundation will liquidate the securities and no capital gains tax is paid on the appreciated part of the gift. Securities that can be accepted include publicly traded stocks, bonds and mutual funds.
The Community Foundation can accept gifts of real property (homes, land, etc.). Because gifts of real estate require certain procedural steps, please call the Community Foundation in advance.
Bequests are one of the easiest ways to give to the Community Foundation because donors retain complete control over the assets during their lifetime. Bequests can be a specific dollar amount, a percentage of the estate, or the residual that remains after all other bequests are made. Bequests may be made as an unrestricted gift to the Community Foundation to be used as directed by the Board. Bequests may also be made to an existing fund or to a new fund to be established by the gift in the donor's name.
Gifts of life insurance policies may be made by naming the Community Foundation as the owner and beneficiary. The donor receives an immediate tax deduction approximately equal to the cash surrender value of the policy. Any premiums thereafter paid by the donor are deductible for income tax purposes. Insurance proceeds can be specified as an unrestricted gift or to a named fund at the Community Foundation.
Individual Retirement Accounts & Retirement Plans
Donors may designate the Community Foundation as the beneficiary of IRAs and retirement plans. The donor may specify the gift unrestricted or may establish a fund in the donor’s name at the Community Foundation.
Charitable Remainder Trust (CRT)
A charitable remainder trust pays the donor or a beneficiary designated by the donor to receive regular income payments for life or a specified trust term (up to 20 years) and whatever remains will be transferred to the Community Foundation. The donor receives an immediate charitable tax deduction for the present value of the gift in the year the gift is made. The CRT can be structured to pay fixed income or income that varies with the value of the trust. A CRT is useful for securities and real estate that have appreciated in value but earn little income since the assets of the trust can be sold and reinvested without incurring capital gains tax. The remainder of the trust paid to the Community Foundation may be specified as an unrestricted gift or used to establish a new fund in the donor's name.
Charitable Lead Trust (CLT)
A charitable lead trust pays annual payments for the donor's life or for a specified number of years to a fund established at the Community Foundation. The annual payments may be fixed or may be variable based on the value of the trust. When the trust terminates, the trust principal is distributed to family or others designated by the donor as the beneficiary.