Planned gifts encompass several different areas of charitable giving and can be funded with cash, equity, property, and more. Find more information below regarding planned gifts offered by the Chester County Community Foundation.
Bequests are the most popular form of planned giving, in which a donor names an already-existing fund or a new fund at the Community foundation to receive a percentage, dollar amount, or the remainder of a donor’s estate. Bequests enable donors to reduce their estate taxes while supporting their community.
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 these assets to charity and leaving other assets in your estate to your heirs.
Charitable Gift Annuities
A Charitable Gift Annuity allows donors to contribute assets to The Community Foundation and receive an income tax charitable deduction and a guaranteed income for life. This can ease the worries of outliving financial resources by providing a high income coupled with numerous tax advantages.
Gifts of Life Insurance
Donors may give a life insurance policy that is no longer needed, take out a new policy, or name The Community Foundation as a beneficiary of an existing policy. A gift of life insurance may provide valuable income and estate tax savings.
Gifts of Real Estate
You may give appreciated real property or remainder interest of your home to the Nonprofit Endowment Fund at The Chester County Community Foundation. You continue to retain the use of the property during your lifetime and also retain the responsibility for maintenance, upkeep, and taxes. After the tenancy terminates, The Community Foundation becomes the owner of the property. When property is sold the proceeds are added to your Nonprofit Endowment Fund.
Charitable Lead Trusts
This allows donors to provide income to their fund at the Foundation for a specified number of years. The remainder is then returned to the donor, or his or her named beneficiary. Benefits may include the transfer of assets to others free of estate, gift, and income taxes.
Charitable Remainder Trusts
A donor transfers cash or equities irrevocably to a trust and the trust is then invested and managed by The Community Foundation. The donor receives either fixed or fluctuating income payments for life and, when no longer needed by the donor, the remainder goes to a fund at the Community Foundation, as designated by the donor.
Ben Franklin Legacy Society
The Ben Franklin Legacy Society recognizes all those who have notified the Chester County Community Foundation that they have included any 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, Chester County Community Foundation’s first planned gift was a portion of this original trust.