Types of Assets We Accept

If your client is interested in a deferred gift such as a bequest, a charitable remainder trust or a charitable lead trust, or a gift of life insurance, visit 'Making a Planned Gift' for more information.

CASH GIFTS
Cash and personal checks are simplest methods of donor giving.  Donors can also make donations using their credit cards through  Network for Good.  Network for Good is a nonprofit organization that allows donors to make a credit card donation securely online to their charity of choice. Cash gifts enable donors to claim a current income tax deduction of up to 50 percent of their adjusted gross income (AGI) in the year of the gift, with a five year carry-forward period.

PUBLICLY TRADED SECURITIES
Donors receive a double income tax benefit when they gift publicly traded securities (i.e. securities for which there is a recognized market). Such gifts are deductible at their full market value, and the capital gains on the stock's appreciation are avoided (this is difference between the cost basis and the present fair market value). Donors can claim a current income tax deduction of up to 30 percent of their adjusted gross income (AGI), with a five-year carry forward, if required.

Publicly traded stocks and bonds may be transferred electronically, re-registered in the name of the Foundation or conveyed through use of a properly executed stock power form. Staff will provide donor with delivery instructions upon request.

Publicly traded securities are valued at the arithmetic mean between the high and low selling prices on the date the stock is transferred multiplied by the number of shares tendered. The value of over-the-counter stocks for which no high and low sale prices are reported on the date of the gift usually will be based on the arithmetic mean between the bid and asked prices on that date.

CLOSELY HELD STOCK
Proposed gifts of closely held stock are reviewed on a case-by-case basis with the Foundation's Gift Acceptance Committee. If accepted, donors are entitled to a deduction for the appraised fair market value of the gift. The deduction can be up to 30 percent of the donor's adjusted gross income (AGI). Capital gains are also avoided.

Before such gifts are accepted AAACF staff and Gift Acceptance Committee will review the relevant documentation to obtain a clear understanding of the Issuer's business activities, the underlying assets and liabilities, the nature of the interest proposed to be conveyed, the actual or potential liabilities, if any, associated with holding such securities (e.g. unrelated business taxable income "UBIT," capital calls, or contingent liabilities).

MUTUAL FUNDS
Mutual funds can also be contributed to the Foundation. The value of a share in a mutual fund is its public redemption price (the "bid price") on the valuation date. Gifts of mutual funds are deductible at their fair market value up to 30 percent of the donor's AGI, with a five year carry-forward, if required.

RETIREMENT PLAN ASSETS
Retirement plan assets (such as IRA's) make excellent charitable gifts. Qualified retirement plans enjoy favorable tax treatment prior to retirement but are subject to income tax, estate tax, and excess accumulation tax at the death of the plan participant. Qualified plans may be. In many cases it may be advantageous to leave other assets to heirs and to name the Foundation as the beneficiary of the retirement plan. Estate tax and income tax can be avoided if the plan participant makes a gift to charity via bequest.

LIFE INSURANCE
Gifts of life insurance enable the donors to make a future gift to the Community Foundation at a relatively modest cost. Donors may name the Foundation as the owner and beneficiary of existing policies that they no longer need. Alternatively, donors may purchase new policies and name AAACF as owner and beneficiary. Donors are entitled to a federal tax deduction for the cash surrender value in the year the gift is made.

REAL ESTATE
Gifts of real estate include a house or personal residence, farm, vacation home, commercial buildings, and income-producing land. Gifts of real estate, if held more than one year, are deductible for up to 30% of the donor's adjusted gross income in the year of the gift with a five year carry-forward period if required. For real estate held less than one year, the charitable deduction is limited to the property's cost basis. Gifts of real estate may be contributed as outright gifts, as a retained life estate, as a contribution to a charitable remainder trust, or may be gifted to the Foundation via bequest. All gifts of real estate will require certain procedural steps, including a site visit to the property, and environmental assessment, a qualified appraisal, a copy of the latest tax assessment, and a determination as to whether the property has a mortgage. For more information about gifts of real estate, see the Foundation's Gift Acceptance Policy.

TANGIBLE PERSONAL PROPERTY
Gifts of tanglible personal property include property such as art, antiques, collectibles, jewelry, rare books, stamp and coin collections, etc. When gifted to a public charity such as AAACF, such items are deductible at full fair market value as determined by a qualified appraisal if the use of the contributed property is related to the tax exempt purposes of the charity. For example, a gift of a painting to a museum, or a gift of a rare book to a library would be deductible. If the contributed property is unrelated to the tax-exempt purposes of the charity - for example, giving the Foundation a stamp collection to sell - then the donor is entitled to a charitable deduction for his or her cost basis in the property.

OTHER kinds of property that is saleable may also be accepted by the Community Foundation. Donors and their advisors are invited to inquire by contacting the Foundation. Contact us for more info.

MORE WAYS TO GIVE …

Several types of deferred giving arrangements can be established that may take effect either while your client is living or through a will. Some arrangements can be structured to provide a life income for donors or loved ones. Click here for more information about making a planned gift.