A wide variety of assets can be used to set up or add to a fund. Turn assets into charitable good!
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Outright Gift — The simplest way to make a big difference.
A gift of cash, stocks, bonds, real estate, or other liquid assets. Most gifts qualify for maximum tax advantage under federal law.
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Gift of Real Estate — Turn property gains into good.
The value of real estate may exceed that of any other asset. Use it to fulfill charitable interests and receive financial and tax benefits.
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Gift of Life Insurance — Make the community your beneficiary.
Life insurance provides a simple way to give a significant gift to charity, with tax benefits the donor can enjoy during their lifetime.
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Gift of Retirement Plan — Choose community over taxes.
Naming Eastern Carolina Community Foundation as a beneficiary of a retirement plan is an easy way to make a lasting gift to the community that may not be possible during the donor’s lifetime.
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Gift of Appreciated Stock — Turn stock market gains into community investment.
Everybody wins when a gift of appreciated stock is donated. A gift of stock is reinvested in the community, and qualifies for an immediate tax deduction based on the full market value.
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Planned Gifts
Planned gifts are complex and require expert support from a tax attorney or financial advisor. A number of planned gifts can generate life income for donors or their family members such as charitable gift annuities or charitable remainder or lead trusts. Other planned gifts include bequests or life insurance proceeds.
Donors with Complex Financial Needs
For donors who want to combine their philanthropic wishes with complex financial needs, we advise working with a tax attorney to determine the appropriate planned giving instrument. A number of planned gifts can generate life income for donors or their families. In this category are charitable gift annuities, charitable remainder trusts, and charitable lead trusts. Other planned gifts include charitable bequests (appropriate for estates of any size), and designating a community foundation as a life insurance beneficiary.
Planned Gifts
Planned gifts are complex and require expert support from a tax attorney or a financial advisor.
We are always willing to work with donors and financial advisors to make philanthropic planning comfortable and convenient. A wide variety of giving methods can be tailored to unique situations.
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Bequest by Will — A legacy of giving.
Including a charitable bequest in a will is a simple way to create a lasting legacy and benefit the community forever. Bequests can give cash, appreciated stocks, or other assets. Some of the most tax-efficient bequest assets come from retirement plan accounts since heirs would be taxed on the income in respect of the descendent (IRD). The gift can be a stated dollar amount, a specific property, a percentage of an estate, the remainder after other distributions, or a gift contingent on certain events.
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Charitable Remainder Trust — Plan for the future.
Establishing a Charitable Remainder Trust allows the donor to receive income for the rest of their life, knowing the remainder will benefit the community. The donor transfers assets into a trust which pays regular income payments. Upon the beneficiary’s death or after a defined period of years, the remaining assets transfer to the Community Foundation.
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Charitable Lead Trust — Give back to community and loved ones.
A Charitable Lead Trust builds a fund with the Community Foundation during the trust’s term. When the trust terminates, the remaining assets are transferred to the donor or their heirs, often with significant transfer-tax savings. The donor can create a trust during their life or through their will. The trust contributes to charity through Eastern Carolina Community Foundation — either for a number of years or for the donor’s lifetime.
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Gift of Retirement Plan — Choose community over taxes.
Naming Eastern Carolina Community Foundation as a beneficiary of a retirement plan is an easy way to make a lasting gift to the community that may not be possible during the donor’s lifetime.
Gifts to Eastern Carolina Community Foundation are irrevocable. IRS regulations stipulate that a donor cannot make a tax-deductible contribution and retain future control over the contribution. Therefore, the Foundation must retain the right of final determination for the use of funds while allowing the donor to recommend grant recipients. Recommendations are typically approved if no benefit is provided to the donor. Please inquire about the conditions required for Designated Funds established by a public charity.
