How to Give to The Delta Community Foundation
Donations come in many forms depending on the donor’s circumstances and the type of gift. All forms of gift are welcomed by The Foundation.
Types of Gifts
GIFT OF CASH
A gift of cash is the easiest and simplest way to give. You receive an income tax receipt for the full amount and have the immediate satisfaction of seeing your gift at work.
GIFT OF SECURITIES
Stocks, bond, and other investment instruments can be transferred at current value to The Delta Foundation either as a donation or a bequest. Receipts for donation of securities will be issued at fair market value for tax purposes.Gifts of appreciated securities to The Foundation may provide important tax advantages to the donor.
GIFT OF REAL ESTATE
Gifts of real property to The Foundation may also provide important tax advantages to the donor. The full fair market value of such gifts will be fully deductible depending on the timing of the gift and the donor’s income.
GIFT OF LIFE INSURANCE
A gift of life insurance can be a large gift at a moderate cost. If you make The Delta Foundation the owner and beneficiary of a life insurance policy, you will receive a donation receipt for the policy’s cash value, as well as for any future premiums.
GIFT OF OTHER PROPERTY
Other assets such as works of art can be given to The Foundation. Receipts will be issued for the fair market value of the gift.
Ways to Give
WILLS & BEQUESTS
There are several ways The Foundation may be remembered in a will. The Foundation may be named as the residuary beneficiary of a donor’s estate, as the recipient of a stated sum or contingent bequest, or as the ultimate recipient of the assets of a charitable remainder trust.
|Legal term||What does it mean?|
|Gift||A sum of money or an asset (property or goods) voluntarily transferred to your community organization by someone that is to the advantage of your community organization. The person giving you the money or thing does not receive anything in return.|
|Will||A document in which someone specifies how to deal with or allocate their assets after their death. Wills can contain bequests or endowments to your community organization.|
|Bequest||A sum of money or an asset that is given to your community organization upon the owner’s death as specified in the owner’s will. The bequest can be given ‘freely’, which means that your organization may choose to deal with it as it sees fit, or it can be given with conditions, which must be honored.|
|Endowment||An endowment is normally a fund (amount of money), which is established to provide an income for ‘beneficiaries’ – your community organization can be the sole or one of several beneficiaries. The fund is usually invested in ‘perpetuity’, which means there is no time limit for its end. Only the income is distributed, not the original capital amount. So, the endowment fund will be set up with a sum of money, and this money is then invested by the trustees (managers) of the fund, and a ‘dividend’ or a distribution is paid to those beneficiaries under the terms of the fund.|
GIFT OF RESIDUAL INTEREST
This type of gift can include real estate or works of art, and involves an irrevocable future gift. You retain the use of the property for life, receive a donation receipt for the present value of the gift, and the gift is not subject to probate. It is also possible to avoid tax on capital gains.
For further information and advice on types of gifts and ways to give, contact us.