FOUR WAYS TO GIVE TO CONSIDER AT YEAR-END

2020 has been a year full of unique challenges, difficult conversations, and new adventures. As the year comes to a close, The Community Foundation invites you to consider making an end-of-the-year gift to support the causes that matter most to you. We always appreciate your gift to The Unrestricted Fund of The Community Foundation, or a complete list of funds can be found online at cfmdin.org/funds.

How can I make a gift at year-end?

APPRECIATED STOCK

At year-end, I could gift some shares of appreciated stock I’ve held for a year to The Community Foundation. My income tax deduction is the stock’s fair market value, far less than my out-of-pocket cost for that stock.

IRA DISTRIBUTION

If I am 70 ½ or older with an IRA, I could ask my IRA plan custodian to send a check from my IRA directly. That IRA distribution to charity will not be included in my taxable income, making my customary annual gift pre-tax, and count towards my required annual minimum distribution.

CHARITABLE GIFT ANNUITY

If I am older, I could use a matured CD, a retirement plan distribution, or matured savings bonds I’ve redeemed to fund a charitable gift annuity (“CGA”). A CGA often provides higher than market income for life to me and another older person, with an income tax deduction, too. The Community Foundation can provide calculations showing how a CGA could work for me.

REAL ESTATE

If I have real estate, like rental properties or farms, or a business that I am considering disposing of, I could ask The Community Foundation about charitable plans that can be funded often pre-tax with part or all of such appreciated assets, providing income to me and my spouse, children, or siblings.

Please consult your financial advisors for specific questions regarding your tax situation. To learn more about the different ways to give at The Community Foundation, contact Kelly K. Shrock, president, at 765-747-7181 or kshrock@cfmdin.org.