Home
>
We use cookies to understand how you use our site and to improve your experience. By continuing to use our site, you accept the use of cookies described in our privacy policy.
Transform Your Assets into Impact
Types of Gifts We Accept
Cash
Cash gifts are simple and can draw upon several sources, including currency, electronic funds transfer (EFT), matured certificates of deposit, money market funds or checks and money orders made payable to the Community Foundation for Southwest Washington. Because we are a qualified 501(c)(3) organization, these gifts are eligible for a full charitable deduction.
Publicly traded securities
Appreciated stocks, bonds and mutual fund shares owned for more than one year can be directly transferred to the Community Foundation for Southwest Washington for a deduction equaling their current fair market value while avoiding any capital gains tax.
Closely held securities and business interests
The Community Foundation for Southwest Washington can own closely held C corporation, S corporation and restricted stock. We can also accept interests in business entities such as partnerships and limited liability companies. When used as charitable gifts, these assets bring you the same tax benefits as gifts of publicly-traded securities.
Real estate
Gifts of real estate range from personal residences and vacation homes to rental properties, farmland, and commercially developed land. With the help of the Community Foundation, you can use real estate to make a bigger charitable difference than you thought possible, avoid estate taxes, and minimize or eliminate the burden placed on your heirs. You may choose to give real estate outright and receive an immediate tax deduction, or retain the use of the property during your lifetime and make a planned gift to the Community Foundation. You may also choose to convert real estate into a stream of income for the rest of your life by establishing a charitable remainder trust or charitable gift annuity with the Community Foundation. Doing this lets you transform a low-yield asset into a higher-yield, income-producing asset and claim a tax deduction for the charitable portion of the gift.
IRAs and other retirement accounts
If you are like most people, you probably will not use all of your retirement assets during your lifetime. Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to the Community Foundation for Southwest Washington.
Moreover, if you are 70½+ years old and own an IRA, you may be able to give all or part of your Minimum Required Distribution to charity as a Qualified Charitable Distribution (QCD) and avoid paying income taxes on that amount. There are some stipulations, including restrictions around contributions to Donor Advised Funds, so please contact us for more information.
Life insurance policies
You may name the Community Foundation for Southwest Washington as the owner or beneficiary of a life insurance policy. This is a great gift to consider if you have a life insurance policy that has outlasted its original purpose. For example, you may have purchased a policy to provide for children who are now financially independent adults.
Annuities
Annuity contracts issued by insurance companies can sometimes be used to benefit the Community Foundation for Southwest Washington. Usually, it is best to arrange for a beneficiary designation that will result in the Community Foundation receiving some or all of any value remaining at the end of your lifetime. Commercial annuities can even be a source of cash for establishing a charitable gift annuity, a charitable remainder trust or a charitable lead trust.
Tangible, personal property
Gifting items such as cars, artwork or jewelry allows you to deduct your cost basis of the donated good. If your property has depreciated from the original cost—as is typically the case with cars—then your deduction will be based on the property’s current value. Another approach is to retain your assets and leave them to charity through your will or living trust, which avoids the unfavorable tax considerations tied to making gifts of personal property during one’s lifetime.
Other unique assets
The Community Foundation can also accept other complex assets, including patents, mineral rights, royalties, artwork and more. Please contact us to discuss your options.
Why Donate Non-Cash Assets
Donors diminish the power of their gifts by liquidating non-cash assets and making cash donations to their favorite nonprofits or causes. The more impactful alternative is to donate these assets outright. When non-cash assets are transferred to a fund at the Community Foundation for Southwest Washington, they can be sold without incurring capital gains taxes, which maximizes the proceeds directed to charity. A non-cash gift benefits you and the causes you care about, and gives you access to our exceptional donor services.
Tax Deduction
Donors contributing appreciated securities or property to a Community Foundation fund can generally deduct the full fair market value for income and gift tax purposes.
Greater Impact
When the Community Foundation sells non-cash assets, they generally avoid capital gains taxes. As a result, you have more resources to direct to the causes you are passionate about.
Donor Services
Giving at the Community Foundation offers you personalized philanthropic services and deep expertise around local causes.
Get in Touch
Note: The Community Foundation for Southwest Washington and its staff do not provide legal, tax or financial advice. Donors should seek their own legal, tax and financial advice in connection with gift and planning matters.