Gift Options

The Fort Dodge Community Foundation can accept a wide range of gifts and assets to help you start your own fund or give to an established fund. Below are the types of charitable gifts that can we can use to start and carry on your legacy.

Gifts of Cash

A gift of cash is a simple and easy way for you to make a gift. You will receive a charitable tax deduction that will provide you with savings on this year's tax return.

Gifts of Publicly Traded Securities

A gift of your securities, including your stocks, bonds or mutual funds, is an easy way for you to make a gift. By making a gift of your appreciated securities, you can avoid paying capital gains tax that would otherwise be due if you sold these assets.

Potential Benefits of Gifts of Publicly Traded Securities
  • Avoid paying capital gains tax.
  • Receive a charitable income tax deduction.
  • Enjoy possible increased income.
  • Make a lasting difference in your community.
     

Gifts of Closely Held Stock 

Donors may choose to give closely-held stocks to establish a fund with the Fort Dodge Community Foundation. This may provide an opportunity for you to increase the liquidity of your assets for charitable giving. To obtain the maximum tax benefit, closely-held stock needs to be gifted before any liquidation event, including retirement, selling, merging or taking the company public. You are entitled to a deduction for the appraised fair market value and avoids the potential capital gains tax on any appreciation in the value of the stock. The Fort Dodge Community Foundation can lead you through a process that makes the transfer easier and more predictable.

The donor must obtain an independent appraisal if the value of the gift and is responsible for filing IRS Form 8283 and must provide a completed copy. The Foundation will file Form 8282 if the property is sold within two years.

Gifts of Life Insurance

A gift of your life insurance policy is an excellent way to make a gift to the community. If your life insurance policy is no longer needed or will no longer benefit your survivors, consider using it to establish or give to a fund to help your favorite causes and charities.

If your life insurance policy is no longer needed or will no longer benefit your survivors, consider using it to establish or support your charitable fund at Fort Dodge Community Foundation, which will continue giving back in your name forever.

Did you know that you can give your life insurance policy to Fort Dodge Community Foundation today and receive a charitable income tax deduction? You can also make deductible contributions to Fort Dodge Community Foundation each year that we may use to pay the premiums. Your fund benefits from the proceeds of your policy.

You can also designate Fort Dodge Community Foundation as the beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. The policy will be included in your taxable estate when you pass away, but your estate will benefit from an estate tax charitable deduction for the value of the gift to us.

Gifts of Retirement Assets

A gift of your retirement assets, such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a lasting impact on the community.

Did you know that 60%-65% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to Fort Dodge Community Foundation. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.

Your retirement assets may be transferred to Fort Dodge Community Foundation by completing a beneficiary designation form provided by your plan custodian. If you designate your fund at Fort Dodge Community Foundation as beneficiary, your IRA assets will not be taxed at your death and your favorite causes and charities will benefit charitably for years to come. Your estate will also benefit from an estate tax charitable deduction for the gift.

Gifts of Real Estate

A gift of your real property (such as your home, vacation property, vacant land, farmland or ranch or commercial property) can make a great gift. If you own appreciated real property, you can avoid paying capital gains tax by establishing a fund with the Fort Dodge Community Foundation.

Potential Benefits of Gifts of Real Estate
  • Avoid paying capital gains tax.
  • Receive a charitable income tax deduction.
  • Leave a lasting legacy.
     

Your real property may be gifted to Fort Dodge Community Foundation by executing or signing a deed transferring ownership. You may deed part or all of your real property to support or start your own charitable fund. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.

A gift of real property also can create attractive tax savings while providing possible life income options for you or a love one. 

Gifts of Other Property

The Fort Dodge Community Foundation accepts gifts of tangible personal property, including by not limited to, artwork, collectables, antiques, jewelry, books, livestock, timber, crops, automobiles and boats, only after a review and approval by the Board of Directors. The proposed gift must be readily marketable, free and clear of encumbrances, or related to the tax-exempt charitable purpose of the Foundation. The donor is responsible for obtaining a qualified appraisal of the value to the tangible personal property if it exceeds $5,000.

For more information on gift options, contact Randy Kuhlman, CEO, at 515.573.3171 or rk@fd-foundation.org