Ways to Give—Ensuring a Successful Transition of Funds
The Custer County Foundation allows donors to become part of a strong philanthropic history through gifts or bequests. Each generation can expand on our history and leave a legacy for tomorrow's community. The Foundation offers various giving avenues listed below.
You can make a gift of cash to the Custer County Foundation. Your charitable gift qualifies for an income tax deduction and could avoid capital gains tax.*
Securities, Real Estate, or Personal Property
When you give mutual funds, bonds, publicly traded stocks, real estate, or property that has (1) risen in value, and (2) has been owned by you long enough to be considered long-term capital gain property, you generally will not incur tax on the increase of value. In addition, you benefit from a deduction for the full value of the security, real estate, or personal property on the date of the gift—not the lesser amount you paid for the asset. You may choose to reserve real estate or personal property for your life use and give your home, farm, equipment, jewelry, ranch, etc., to the Foundation at the time of your death. Giving an appreciated asset such as securities, real estate, or personal property helps you give more to the Foundation and your community at a lower cost to you.
Most families need for life insurance changes over the years. Children grow, mortgages are paid, and other investments may provide income and security. You may choose to name the Custer County Foundation as a beneficiary to receive all or a portion of your policy's proceeds. Or, you may take out a new policy, naming the Foundation as a beneficiary. Current and possibly future tax benefits can result from such a gift.
A gift to the Custer County Foundation can take many forms, ranging from a cash legacy, to specific personal or real property, to a share of your estate. You can make a bequest for a designated charitable purpose within your community, you may leave your donation to the Foundation's undesignated funds, or you may establish a scholarship to honor and pay tribute to a family or individual.
It is ordinarily a simple process to name a charitable beneficiary to receive all or a portion of an Individual Retirement Account (IRA), profit sharing plan, and/or qualified employee pension plan. If you would like to place the Custer County Foundation as a beneficiary of your retirement plan(s), contact your employer or the person in charge of your retirement plan.
Charitable Gift Annuity
You can make a gift of cash or property to the Custer County Foundation now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life.
Charitable Remainder Trust
You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life or a fixed number of years. After the termination of the trust, the remainder of the balance transfers to the Custer County Foundation and is placed into a charitable fund supporting the cause(s) of your choice. You receive income tax benefits the year you establish your trust.
Charitable Lead Trust
You can place cash or property into a trust that pays a fixed amount to the Custer County Community Foundation for the number of years you select. Once that period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you can receive a substantial reduction in federal gift and estate taxes.