Cash gifts are deductible up to 50% of Adjusted Gross Income. A five-year carryover is allowed if the deduction surpasses the allowable limit within the year the gift was made.
Long-term Appreciated Assets
If you own long-term appreciated assets (stock, real estate, etc.), you may recognize substantial capital gains tax savings by gifting those shares directly to the Racine Community Foundation, rather than selling them and then making the charitable gift. Donations of long-term appreciated assets are deductible up to 30% of Adjusted Gross Income, with a five year carryover allowed, if the deduction surpasses the allowable limit within the year the gift was made.
You can name the Racine Community Foundation as the beneficiary of an existing life insurance policy or on a new policy. Premium payments are tax-deductible and this is a relatively low-cost way to make a substantial gift to benefit your favorite charity.
The increasing success of the Racine Community Foundation is the result of its responsiveness to the needs of the community, not only as a grant-making organization, or networking resource for other non-profits, but also as a home base for those who seek to begin, or grow, their charitable giving.
Your gift to the Foundation can be made in almost any way that fits your charitable giving goals. Whether you want to make a one-time gift, or wish to build toward a permanent fund over time, the Racine Community Foundation can work directly with you, or your financial advisor, to establish a way to give that is right for you.
We accept a wide variety of gifts including cash, stocks, securities, estate gifts, mutual funds, distributions from IRAs or other retirement plan assets, real estate and life insurance policies.
Our Gift Acceptance Policy is available upon request. Please contact any staff member.