Ways to Give

Our professional staff is prepared and eager to assist donors in determining which method best meets their needs and charitable goals. Gifts can be made to the Foundation in any one of the following ways, or in any combination:

OUTRIGHT GIFTS
The Community Foundation is prepared to accept gifts of cash, securities, and real estate. Gifts of appreciated stock, including closely held stock, can often provide important tax advantages.

MEMORIAL GIFTS
Tributes to honor the living and memorials to remember the departed are special funds that can be set up to receive contributions from donors. Gifts may also be made to existing funds. Donors often establish scholarships to acknowledge the lives of people they admire and care about.

INCOME FOR LIFE:
Charitable Gift Annuities
A charitable gift annuity provides the donor with a guaranteed income for life, an immediate income tax deduction, and the opportunity to leave a legacy to the causes that matter most to them. Once the lifetime annuity has completed its payouts to a donor and spouse, the remaining principal is transferred to their named charitable fund to fulfill their intentions in perpetuity.

INCOME FOR LIFE:
Charitable Remainder Trusts
Our foundation is also able to administer charitable remainder unitrusts and annuity trusts, both of which pay lifetime income to you or other named beneficiaries.

Once a trust is established with the assistance of your attorney, cash or property is then transferred to the trust. Beneficiaries receive income in an amount equal to a fixed percentage of the trust’s annual fair market value (unitrust) or a fixed dollar amount (annuity trust). Upon termination of the trust, the assets are transferred to the donor’s named fund to fulfill their charitable intentions.

Because these gifts are complex, we encourage our donors to work with their financial and estate planning advisors as well as with our experienced staff.

BEQUESTS
A bequest to The Community Foundation can be as simple as adding an appendix to your will or naming the Community Foundation on a formal beneficiary designation form. This is the most common planned gift, and it may provide you with valuable estate tax savings.

Bequests can be in the form of:
- a stated dollar amount or specific property,
- a percentage of the estate,
- a portion or all of the residual once provisions have been made for all family members.

Retirement plan bequests to a charitable organization such as a community foundation are one of the most tax efficient ways to transfer assets. Most assets an heir inherits are free from income tax. However, an heir will pay income tax on disbursements from a decedent's retirement plan such as a profit sharing plan, 401(k) plan or an IRA.

We encourage you to work with your estate planning professional to determine your best course of action. Our experienced staff will be happy to discuss this with you and your advisors if you choose. If you would like additional information on bequests, please contact us at any time, or click here for a brochure containing bequest language.

INSURANCE POLICIES
Life insurance can be an important, simple, and meaningful charitable gift. It is usually found in every family’s financial portfolio. While it can be tremendously important during difficult times, most people find that their need for life insurance diminishes in importance with age.

Support the causes that matter most to you with a gift of life insurance to the Community Foundation of Tampa Bay in any of the following ways:

1.	Paid in Full
	The outright gift of a paid-up policy is the simplest way to make a charitable gift. Designating the Community Foundation of Tampa Bay as the new owner allows the Foundation to cash in the policy now or to hold the policy in force. You benefit from an immediate tax deduction and the knowledge of supporting an organization whose mission you value.
2.	Payment of Premiums
	Donating an existing policy by naming the Community Foundation as the owner allows you to take the premium payments as tax deductions. In the event your payments stop, the Foundation may consider surrendering the policy for its current value or may continue to pay the premiums.
3.	Bequest of Proceeds
	By designating the Foundation as a beneficiary of your policy, you retain full control of your policy during your lifetime and know that it is there as a safety net if needed. Your gift to the Foundation will be deductible for estate tax purposes.
4.	New Policy
	The purchase of a new policy naming the Foundation as owner and beneficiary is another simple and easy way to support your Community Foundation. Again, the payment of premiums, made directly to the Community Foundation of Tampa Bay, are tax deductible.

For more information, please call Lois Mock, Community Foundation vice president and chief financial officer, at 813.282.1975.