Ways To Give
WE’RE HERE TO HELP EVERY STEP OF THE WAY
Charitable gifts are as individual as the people making the contributions. All share a passion for philanthropy, but choose to give in a variety of ways. Some want to name the fund they establish — others want to give in total anonymity. Some want to begin making grants immediately, others need income for the duration of their lives. Some want simply to give today.
TYPES OF DONATIONS
- You transfer cash to the Vermont Catholic Community Foundation (VCCF)—via a check through the mail or online by debit or credit card.
- VCCF can put your gift to immediate use or add it to an endowed fund if you so specify.
- You receive a charitable deduction.
- Your gift is made simply and quickly.
- You receive a federal income-tax deduction.
- You provide immediate support for the Vermont Catholic Community Foundation.
- Please call (802-846-5837 or email Ellen Kane, [email protected] to discuss the type of tangible property, possible uses of your gift by the Vermont Catholic Community Foundation (VCCF), and getting an appraisal.
- You receive a charitable income-tax deduction for the full fair-market value of the property if the gift’s use is related to VCCF’s exempt purposes.
- If the use is unrelated to our exempt purposes or if it’s understood that we will be selling the property, then the deduction is limited to your cost basis.
- You receive a federal income-tax deduction for the fair-market value if the gift’s use is related to VCCF‘s charitable purposes.
- You avoid capital-gain tax on long-term related-use property (capital-gain tax on tangible personal property is 28%).
- You provide significant support. for VCCF without affecting your income.
Special note: You should call us at (802) 846-5837 or email Ellen Kane at [email protected] to tell us of your intent with regards to the property, and we will be able to assist you with the details of the transfer.
Almost any type of real estate may be donated: undeveloped land, farms, commercial buildings, vacation homes, or your residence.
Real Estate—Outright Gift
- Transfer title of property to the Vermont Catholic Community Foundation (VCCF).
- Receive income-tax deduction for fair-market value of property.
- VCCF may use or sell the property.
- Income-tax deduction for fair-market value of property based on qualified appraisal.
- Avoid capital-gain tax on appreciation in value of the real estate.
- Relieved of details of selling property.
- Significant gift to the Catholic Community Fund.
Gift of Personal Residence or Farm with Retained Life Estate
- Transfer title to personal residence or farm to the Vermont Catholic Community Foundation (VCCF).
- No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life.
- VCCF keeps or sells property after your death(s).
- No out-of-pocket cost for substantial gift to the VCCF.
- Federal income-tax deduction for remainder value of your residence or farm.
- You (and spouse) can occupy residence for life.
- VCCF receives a significant gift.
- You can send unendorsed stock certificates by registered mail or instruct your broker to make the transfer from your account to our account.
- You receive an income-tax deduction.
- The Vermont Catholic Community Foundation (VCCF) may keep or sell the securities.
- You receive a federal income-tax deduction for the full fair-market value of the securities.
- You avoid long-term capital-gain tax on any appreciation in the value of the stock.
- Your gift will support the VCCF as you designate.
Special note: You should call or e-mail us to tell us of your intent, and we will be able to assist you with the details of the transfer.
- You make a gift of your closely held stock to the Vermont Catholic Community Foundation (VCCF) and get a qualified appraisal to determine its value.
- You receive a charitable income-tax deduction for the full fair-market value of the stock.
- VCCF may keep the stock or offer to sell it back to your company.
- You receive an income-tax deduction for the fair-market value of stock.
- You pay no capital-gain tax on any appreciation.
- Your company may repurchase the stock, thereby keeping your ownership interest intact.
- VCCF receives a significant gift.
Your retirement-plan benefits are very likely a significant portion of your net worth. And because of special tax considerations, they could make an excellent choice for funding a charitable gift.
Retirement-plan benefits include assets held in individual retirement accounts (IRAs), 401(k)
Gifts from Retirement Plans During Life
- You take a distribution from your qualified retirement plan or IRA that is includable in your gross income.
- You make a gift of the distribution or of other assets equal in value to the distribution.
- You receive an offsetting charitable deduction.
- If you are 70½ or older, available to you.
- You may draw on perhaps your largest source of assets, with no adverse tax consequences, to support the programs that are important to you at the Vermont. Catholic Community Foundation (VCCF).
- The distribution offsets your minimum required distribution.
If you use appreciated securities instead of cash from your distribution to make your gift, you’ll avoid the capital-gain tax on the appreciation.
Gifts from Retirement Plans at Death
- You name VCCF as beneficiary for part or all of your retirement-plan benefits.
- Funds are transferred by plan administrator at your death.
- No federal income tax is due on the funds that pass to VCCF.
- No federal estate tax on the funds.
- You make a significant gift for the programs you support at VCCF.
Special note: Call or e-mail us to tell us of your intent, and we will assist you with the details of the transfer.
“IRA Rollover” Gifts for Donors Aged 70½ or Older
- You are 70½ or older and instruct your plan administrator to make a direct transfer of up to $100,000 to the Vermont Catholic Community Foundation (VCCF).
- Plan administrator makes transfer as directed to VCCF.
- Your gift is transferred directly to VCCF; since you do not receive the funds, they are not included in your gross income*.
- Your gift will count towards your minimum distribution requirement.
- You support the programs that are important to you at VCCF.
*No income-tax deduction is allowed for the transfer.
plans, profit-sharing plans, Keogh plans, and 403(b) plans.
Life Insurance Policy
An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. Life insurance itself can be the direct funding medium for a gift, permitting the donor to make a substantial gift (face value of policy) for a relatively modest annual outlay (i.e., the premium payment).
Life Insurance to Replace Gift
Life insurance can also be used to replace an asset that has been given to the Catholic Community Fund. How it works: After a donor makes a gift to the Catholic Community Fund, the tax savings produced by the charitable deduction are used by his or her children or an irrevocable trust to purchase and pay the premiums on a life insurance policy on the donor’s life. Such an arrangement can ensure that the interests of family beneficiaries will not be adversely affected.