Types of Gifts
Your gift qualifies for the maximum advantage under federal law. You can make the traditional gift of cash or checks to Central Kentucky Community Foundation. Cash gifts may be fully deducted for federal income tax purposes.
We also accept gifts or more complex assets, including:
Gifts of appreciated securities offer tax benefits by avoiding capital gains tax and an income tax deduction.
Closely held stock
You can also make gifts of closely held stock to fund your charitable giving.
Assets held in 401K and individual retirement accounts require special consideration in your financial planning. Once you must take the Required Minimum Distribution (RMD) annually, the income tax can reduce their value for you and your heirs. If these assets remain in your estate, they could incur an estate tax as well, meaning possible double taxation for your heirs.
By donating retirement assets to CKCF during your lifetime, you can remove them from your estate, preserve more of their value and receive a federal deduction for the gift. Talk with us and your financial advisor about making an IRA Charitable rollover.
For some people, real estate represents a significant portion of their assets. Gifting real property to CKCF can be a smart tax strategy and help fund your charitable interests long-term.
Life insurance offers several options for giving.
- You can name CKCF as a beneficiary of your existing policy.
- You can donate an existing, paid-up policy and, in turn, you will get an immediate tax deduction for the gift, usually equal to the policy’s cash surrender value.
- You can take out a new insurance policy naming the Foundation as owner and beneficiary. Your annual payments to the Foundation to pay the premiums are fully deductible as a charitable contribution.
Establishing a fund with CKCF through your will or trust is a popular planning technique, which may result in estate tax savings. It is a great way to provide forever support to organizations and the community. Our Give5 Initiative encourages people to consider the community in your estate plans. Think about giving 5% to an endowment fund for what matters to you. You can designate Central Kentucky Community Foundation or a CKCF fund as a beneficiary of your estate to receive a percentage or defined dollar amount or to be the residuary or contingent beneficiary. You can make a big difference in this community by adding simple language to your will. Ask your estate planning attorney to contact us for more information.
Bequests allow you to give in the future without affecting your current financial situation and to continue your charitable giving beyond your lifetime. It may also reduce estate or inheritance taxes.
Charitable Gift Annuity
You can make a gift of cash or property to Central Kentucky Community Foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life.
You can place cash or property into a trust that pays a fixed amount to Central Kentucky Community Foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes.
Charitable Remainder Trust
You can 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 your trust transfers to Central Kentucky Community Foundation and is placed into a charitable fund you have selected. You receive income tax benefits the year you establish your trust.
Charitable Lead Trust
All gifts must be accepted in accordance with the CKCF Gift Acceptance Policy. Gifts of non-liquid assets and complex assets require review and approval.