Vehicles for Giving
o A cash gift is tax deductible under current law.
o Donations of appreciated publicly-traded securities are accepted. This avoids a capital gains tax and allows the maximum tax deduction for the full market value of the gift.
o A bequest in your will is a simple way to leave a lasting legacy.
o A life insurance policy can name the Foundation as the owner and/or beneficiary of the policy.
o Retirement fund accounts are often your largest asset. All or part of these assets can be given to the Foundation during your lifetime or at your death.
o Real estate can be donated to the Foundation and deducted at full market value, up to 30% of your adjusted gross income.
o A charitable remainder trust allows you or other named beneficiaries to receive lifetime income. Upon your death, the remaining principle creates a fund at the Foundation.
o A charitable lead trust creates income for the Foundation for a specified period, after which the balance is distributed to named beneficiaries. This type of gift avoids estate and gift taxes.
o Transfer of a private foundation affords many advantages including lower overhead, freedom from administration and possible tax advantages.
Getting Started
To enquire about establishing a fund with the Ottawa County Community Foundation, contact Joy Roth, president of the OCCF at 419-797-4293 or any member of the Board of Directors.