Making A Gift

What, how much, when and for what purpose?

Every donor’s financial circumstances, charitable vision, and personal interests are unique. Before making any gifts to charity, consider the above questions carefully.

GIVING NOW

Current or "lifetime gifts" allow you to enjoy the satisfaction and impact of your generosity. Often tax advantages make it prudent for you to donate a certain type of asset such as cash, appreciated stock, real estate, or property. Gifts in any amount can be made to our general endowment, or any fund. A gift of $10,000 or more allows donors the opportunity to start an endowment fund, name it, and determine its use, if they so desire. Click here to learn more about the different fund options.

Cash. Gifts of cash to the Foundation are often fully deductible up to 50% of a donor’s adjusted gross income

based on your individual filing and IRS guidelines.

Publicly Traded Stocks & Securities. Gifts of securities are deductible at fair market value on the day of transfer from your account and often protect a donor from realizing capital gains.

Closely Held Stock. Private stock may be donated and deducted for fair market value as determined by an independent appraisal and subject to our Gift Policy and Procedures. Since the market for these shares is restricted, redemption by the donor or company is permitted.

Real Estate. Gifts of real estate are welcome, in accordance with our Gift Policy & Procedures, and subject to a

review of the property’s marketability, character, and environmental liabilities. Please contact our office before

proceeding.

GIVING LATER – Testamentary Giving

Bequests. Charitable gifts made through a will are a time-honored method of giving and easy to accomplish. Simply name the foundation as a beneficiary. You may leave a share of your estate, a specific amount, or the residuary (after you have considered loved ones, friends, and other interests).

Through a bequest, a donor can also establish a fund in perpetuity to serve a charitable purpose. The following language would ensure your wishes are carried out:

"I give and bequeath ______________(the gift) to The Community Foundation of Herkimer & Oneida Counties, Inc., to establish a permanent endowment fund known as the ______________________Fund. I direct the income be used for ____________________(specify a general interest, or designate an area charity, or make it unrestricted so the Foundation can do its work as community needs change)."

PLANNED GIVING STRATEGIES

Planned gifts are tools that could enable you to reduce income and estate taxes, pass property tax-free to heirs, receive income for life, and still be generous to favorite charities. Most planned gifts are established during a donor’s lifetime but can also be set up through a will. Sound financial advice through a professional is wise, but for basic strategies, proceed to our Planned Gifts section.

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