There are many ways to give to the Fremont Area Community Foundation. Some methods may enable you to enjoy increased income and reduced taxes. Life income programs may eliminate or significantly reduce capital gains taxes on appreciated assets. Gifts can be made using cash, securities, bonds, real estate, or personal property. Choose from the following options for giving through the community foundation to make a lasting difference in the Fremont area:
CASH – The easiest way to contribute and may qualify for maximum allowable income tax deductions. Checks should be made payable to the Fremont Area Community Foundation and may be designated for a specific fund currently administered by the Foundation.
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 tax on the appreciation.
GIFTS OF GRAIN – By gifting grain to the Community Foundation, you can reduce your farm income tax liability. Although a charitable income tax deduction may not be applicable, the advantage lies in avoiding the grain sale as taxable income. You can also deduct the cost of growing your crops, potentially leading to savings on self-employment tax, federal income tax, and state income tax. These benefits apply whether you itemize your deductions or take the standard deduction. LEARN MORE
REAL ESTATE – Gifts of real estate afford the same tax advantages to you, the donor, as gifts of appreciated securities – a deduction for the appraised value and avoidance of capital gains tax on the appreciation. In some instances it may be beneficial for you to make a gift of future interest in a residence while retaining a life interest for yourself and spouse.
LIFE INSURANCE – Can be used to fund a gift at relatively low cost to you. You can gift a new policy or turn over an existing policy and name the Community Foundation as owner/beneficiary. By assigning ownership to the Community Foundation, you receive an immediate income tax charitable deduction in the amount of the policy’s present value. Additional premiums gifted to the Community Foundation are tax deductible, and proceeds pass to charity free of estate tax.
BEQUESTS – After providing for loved ones, you can make bequests to the Community Foundation in your will or trust. Federal estate and state inheritance taxes are saved and the good works you care about continue to benefit through a legacy created in the Community Foundation. LEARN MORE
CHARITABLE REMAINDER TRUSTS – 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 Community Foundation to create a fund for whatever charitable purposes you have specified.
CHARITABLE LEAD TRUSTS – Converse to a charitable remainder trust, you may create immediate income to a specific fund in the Community Foundation for a period of years, with the remainder returning to you or, with proper estate planning, passing to children or grandchildren.
RETIREMENT PLANS – You can use retirement plan assets [401(k), 403(b)] to create a fund in the Community Foundation.
For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact Melissa Diers at the Fremont Area Community Foundation at 402-721-4252.
MAKE A GIFT TODAY!
Donors may contribute to any charitable fund at the Fremont Area Community Foundation or create their own charitable fund.
When making your gift online, you can designate your gift to a specific fund by selecting the fund(s) on the donation page. You are also able to notate whether this donation is being made in honor or memory of an individual.
You can also mail a check to our office at the following address. Please note the fund you would like to support in the memo.
Fremont Area Community Foundation
1005 E. 23rd Street, Ste 2
Fremont, NE 68025
