An
important distinction in using community foundations is that donors give
“through” the foundations rather than “to” the foundations. The
Foundation is simply a tool to help your clients achieve personal
long-term philanthropic goals while enhancing the quality of life within
West Alabama. By handling the financial and administrative details
of funds, the Community Foundation aims to make giving easier, simpler
and more satisfying to donors.
Your clients can support their favorite charities in
the present and in perpetuity by creating a fund through the
Community Foundation. Unless a client wishes to remain
anonymous, the Community Foundation will recognize their generosity
to the recipients of their donations and to the community as a
whole. The Community Foundation of West Alabama has several
types of funds to help your clients achieve their specific
charitable giving objectives.
There are several tax benefits that the Community
Foundation can offer donors. First of all, the tax deduction
is applicable for the year the gift is made although donations can
continue to be given from the fund for years to come. Also, if
donors give stocks or other appreciated property, capital gains
taxes may be eliminated while donors still receive the full, fair
market value of the gift as their charitable deduction.
Finally, a gift to the Community Foundation can reduce future estate
taxes.
Community Foundations throughout the United States
promote giving by providing simple agreements and by allowing for a
variety of
financial vehicles by which a donor may give. |