Planned gifts encompass several different areas of charitable giving and can be funded with cash, equity, property and more. Find information below regarding planned gifts options offered by the Chester County Community Foundation.
To learn more, contact:
Jason Arbacheski, jason@chescocf.org
Bequests
Bequests are the most popular form of planned giving. A donor names an already existing fund or a new fund at the Chester County Community Foundation to receive a percentage, dollar amount or the remainder of a donor’s estate. Bequests enable donors to reduce estate taxes while supporting the community.
Beneficiary Designations
There are many different financial arrangements that allow you to name a current fund or a new fund at the Chester County Community Foundation as beneficiary or contingent beneficiary: Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider’s website. Make your desired changes and return the form to establish your gift.
- Gifts of Retirement Assets
Retirement plans are considered “income in respect of a decedent” at your death: assets that would have been taxable to you if you had lived. You can help preserve the funds you have saved for retirement by leaving more heavily taxed retirement assets to a current fund or new fund at the Community Foundation, and leaving more favorably taxed assets in your estate to your heirs. - Gifts of Life Insurance
Retirement plans are considered “income in respect of a decedent” at your death: assets that would have been taxable to you if you had lived. You can help preserve the funds you have saved for retirement by leaving more heavily taxed retirement assets to a current fund or new fund at the Community Foundation, and leaving more favorably taxed assets in your estate to your heirs. - Charitable IRA Rollover/Qualified Charitable Distribution
The Charitable IRA Rollover (also known as a “Qualified Charitable Distribution” or “QCD”), allows you to give more to charity and pay less in taxes. If you are age 70½ or older, you may be eligible to make annual distributions of up to $108,000 per spouse, this year from IRAs directly to a qualifying charity/charities. QCD transfers count toward satisfying clients’ Required Minimum Distribution. While QCD contributions may not be made to a donor advised fund per IRS regulations, they may be made to an existing or new non profit endowment fund, scholarship fund, or a field of interest fund.
More Creative Ways to Give
- Gifts of Real Estate
A donor may give appreciated real property to a fund at the Chester County Community Foundation. The donor continues to retain the use of the property during their lifetime. For the year the gift is made, it is considered a charitable contribution. This may result in a substantial charitable income tax deduction. After the tenancy terminates, the Community Foundation becomes the owner of the property. When property is sold, the proceeds are added to the designated endowed fund at the Community Foundation. - Charitable Lead Trusts
Charitable Lead Trusts allow donors to provide income to a fund at the Community Foundation for a specified number of years. The remainder is then returned to the donor or their named beneficiaries. Benefits may include the transfer of assets to others with a minimum of estate, gift and income taxes. - Charitable Remainder Trusts
A donor transfers cash or equities irrevocably to a trust. When no longer needed by the donor, the remainder goes to a fund at the Community Foundation, as designated by the donor.
Information and graphics courtesy of:
The Community Foundation for Greater Atlanta
Planned Giving Design Center
Ben Franklin Legacy Society
The Ben Franklin Legacy Society recognizes all those who have included a fund of the Community Foundation in their will or other deferred giving plan.
The Society derives its name from the Benjamin Franklin Trust, which Ben himself set up in the 1790’s, to be distributed 200 years after his death. Two centuries later in 1996, the Chester County Community Foundation’s first planned gift was a portion of this original trust.