How to Give
Contribute What Is Best for You, Today and Tomorrow
Because donors’ situations are unique and change over time, we tailor philanthropic plans around all types of asset contributions — from simple to complicated. You can contribute any type of asset to establish your fund, and have the same flexibility in adding to it in the future.
A cash gift made with a check, wire transfer, or credit card is the simplest way to establish and give to a named fund at the Community Foundation. Gifts are deductible up to 50% of your adjusted gross income. Amounts exceeding this limit can be carried forward up to an additional five years. Cash contributions to your fund may be made by check payable and mailed to:
Community Foundation of New Jersey
Post Office Box 338
Morristown, New Jersey 07963-0338
Public and closely held stock gifts give you deductions for full fair market values up to 30% of your adjusted gross income. Amounts exceeding this limit can be carried forward up to an additional five years. As an added benefit, you avoid capital gains tax on the appreciated portion of the gift.
When making a contribution to your existing fund using appreciated securities, please be sure to notify our Finance Office of your gift at the time of the transfer. In this way, stocks can easily be identified, retrieved, sold, and directed to your fund without delay.
For tax benefits in a given year, contributions must be received by December 31 of that year. Please note that with some brokerage houses, we have experienced that security transfers may take 14-21 days for settlement, so please plan accordingly with your year-end giving to your fund.
A gift of real estate can unlock high charitable value. There are many ways to gift property, depending on your financial and charitable goals. Your options will provide a fair market value tax deduction and, in many cases, the avoidance of capital gains tax.
Retirement Plan Beneficiaries
An inherited retirement plan imposes income tax obligations on an heir. Plans such as profit sharing, 401(k), or IRA are good assets to gift to a named fund since they are some of the few assets that carry inherited income tax burdens.
Charitable Lead Trusts
This vehicle permits your named fund to receive an income interest for a specified period of time. You can recommend gifts from your fund to charities once the trust ends. The trust then benefits the individuals of your choosing: children, grandchildren, relatives or others.
You receive an immediate tax deduction approximating the cash surrender value of a life insurance policy when you name the Community Foundation as the owner and beneficiary. Additionally, all subsequent premium payments made by you are tax deductible.
Life Insurance Beneficiaries
Avoid federal estate taxes and create a charitable legacy by maintaining ownership of your policy and naming the Community Foundation as a beneficiary. During your lifetime you have access to its cash value and if you choose, can change the beneficiary at any time.
You can establish or add to a named fund in your will or trust through a bequest to the Community Foundation. Your gift can fill any charitable aspiration, from establishing a Legacy Fund to leaving a family legacy to engage your children in philanthropy.
Life Income Plans
These options offer an income for life, while enabling you to leave a charitable legacy at a later time. Charitable Remainder Trusts allow an immediate calculated income tax deduction and eliminate capital gains tax on appreciated gifts held over a year.
Contact Hans Dekker at 973.267.5533 or by email with any questions or to establish your fund.