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Ways to Give – Giving Now or Future Giving
The Community Foundation of Greater Rochester offers a variety of giving methods tailored to your unique situation. Each donor is special. Each individual, family or organization has unique charitable interests and financial circumstances. We can help you use your charitable interests and financial capacity to do lasting good work in our community. You may include the Community Foundation in your estate planning or make a gift now and see the benefits of your gift now. Chose the gift and the time that's right for YOU!
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Giving Now – Outright Gifts and Charitable Bequests
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Future Giving – Life Income and Planned Gifts
Giving Now
Donors make gifts of all sizes to the Community Foundation, often to mark a special occasion or perhaps in anticipation of dramatic life change. The Foundation is here to help integrate your charitable goals with your financial and estate planning.
An Outright Gift ensures that the charities you support now can continue to receive ongoing support during your lifetime and in perpetuity through the establishment of a fund in the Community Foundation. You may gift cash, stocks, bonds, real estate, or personal property to the Community Foundation of Greater Rochester. Your gift qualifies for maximum charitable benefit under state and federal law.
A Charitable Bequest is the perfect way to make a lasting gift to the community. After providing for loved ones, donors often consider leaving a portion of their estates to the Community Foundation of Greater Rochester. A bequest to the Foundation can be made through a simple designation in a will or trust.
Future Giving
There are several deferred gifts that may take effect either while donors are living or through a will. Some may provide life income for donors or loved ones.
A Trust is established when assets are transferred to a trustee to be held on behalf of specified beneficiaries during the term of the trust. The benefit is usually payment of earned income of the trust assets. Upon termination of the trust, the remaining assets pass to another beneficiary.
A Charitable Remainder Trust allows you to place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to the Community Foundation, and is placed in a charitable fund you select. You receive tax benefits the year you establish your trust.
A Charitable Lead Trust allows you to place cash or property in a trust that pays a fixed amount to the Community Foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in taxes.
A Life Estate allows you to gift your home, farm or perhaps vacation property to the Community Foundation. You are entitled to a charitable income tax deduction for the present value of the remainder interest and avoid capital gains tax on the property’s appreciation while retaining the right to live in the home or on the farm during your lifetime. At the termination of the life estate, the real estate is sold and the proceeds go to the Community Foundation.
A Charitable Gift Annuity allows you can make a gift of cash or property to the Community Foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life.
A Gift of Life Insurance may be irrevocably transferred to the Community Foundation and receive a federal income tax deduction for the amount of cash surrender value. With gifts of life insurance, donors often can make substantially larger charitable gifts for a relatively modest cost.
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