Different Ways to Give
There are several different ways to give to Warren County. To make a lasting impact on the community, choose from the one of the following options that best fits your needs for giving through the Warren County Community Foundation. All contributions are tax deductible, as allowable by the law.
Outright Gifts – These current gifts generate the most beneficial charitable income tax deduction available under the law, while at the same time removing the contributed assets from the donor’s estate for estate tax purposes. Below are types of outright gifts.
Cash – This is the easiest way to contribute and may qualify for maximum allowable income tax deductions. Checks should be made payable to the Warren County Community Foundation and may be designated to a specific fund currently administered by the Foundation or to establish a new fund.
Securities – Marketable or closely-held securities may be contributed and you can deduct the full fair market value as a charitable contribution, thus avoiding capital gains taxes on the appreciation.
Planned Gifts - In addition to current gifts, donors may also establish or add to a fund at the Warren County Community Foundation through a planned gift. A donor can leave a charitable legacy for his/her family and the community using the following kinds of planned gifts.
Life Insurance – This can be used to fund a gift at a relatively low cost to you. You can gift a new policy or turn over an existing policy and name the Warren County Community Foundation as owner/beneficiary. By assigning ownership to the Foundation, you receive an immediate income tax charitable deduction in the amount of the policy’s present value. Additional premiums gifted to the Foundation are tax deductible, and proceeds pass to the Foundation free of estate tax.
Retirement Plan – You can use retirement plan assets [401(k), 403(b)] to make a gift to the Warren County Community Foundation or to create a new fund.
Living Trust or Bequest – After providing for loved ones, you can make bequests to the Warren County Community Foundation in your will or trust. You save substantial federal and state estate inheritance taxes, and you can create a legacy for your loved one. Also, you can designate the Foundation in your living trust.
Charitable Remainder Trust – A future gift may be made through a charitable remainder trust that pays a lifetime income to you or to a family member. Upon your death or the named beneficiary, the remainder passes to the Foundation.
Charitable Gift Annuity - The donor receives an immediate income tax deduction and a guaranteed lifetime income with a payout rate based on his/her age. When the donor passes away, the remained is passed to the Foundation.
Charitable Lead Trust - A charitable lead trust makes regular income tax-deductible gifts to the Foundation as the income beneficiary. When the trust terminates, the entire principal is returned to you or to your family.
Real Estate – If the real estate gift is approved by the Warren County Community Foundation, the same tax advantages are afforded to you, the donor, as gifts of appreciated securities – a deduction for the appraised value and avoidance of capital gains tax on the appreciation
IRA Charitable Rollover- You may transfer up to $100,000 from your IRA directly to the Warren County Community Foundation without owing income taxes.