Charitable Remainder Trust
Why Give Through a Charitable Remainder Trust?
Charitable Remainder Trusts (CRTs) can be a flexible way to support charitable goals while also providing an income stream for donors and their families. These trusts are often funded with appreciated assets such as securities, real estate, or closely held business interests.
Potential Benefits of a Charitable Remainder Trust:
- Bypass capital gains on donated assets.
- Create an income stream for yourself, spouse, and/or loved ones.
- Receive a charitable income tax deduction now.
- Simplify your estate
- Create a permanent charitable legacy
How It Works
- Establish the Trust
Work with your attorney, financial advisor, and Community Foundation Tampa Bay to determine whether a Charitable Remainder Trust aligns with your philanthropic and financial goals. The trust is then established with terms tailored to your situation.
- Fund the Trust
Transfer appreciated assets into the trust.
- Receive Income Payments
The trust provides income payments to you or other designated beneficiaries for life or for a specified number of years. Payment structures may vary depending on the type of trust established.
- Create a Lasting Charitable Impact
At the conclusion of the trust term, the remaining assets are directed to charitable purposes through Community Foundation Tampa Bay, supporting the causes and organizations most meaningful to you.
How George and Mimi Created Their Charitable Legacy
George and Mimi Frank were longtime Sun City Center residents. They believed that true community vibrancy depends on flourishing environmental resources that the Tampa Bay area has in abundance. Mildred “Mimi” Frank’s vision was to protect these crucial resources in order to ensure the health and quality of life of those who live in the Tampa Bay region today – and for future generations to come.
This is why they created the George and Mimi Frank Environmental Endowment with a gift of over $1 million from their estate. They worked with their attorney and the staff at Community Foundation Tampa Bay to design their giving plan and the endowment fund.
After they passed away, assets from their estate were transferred to the Foundation and placed into their fund. Annual grants from the endowment are made to nonprofit organizations with guidance provided by regional councils located throughout the Tampa Bay area. George and Mimi’s vision for environmental preservation has been realized and they will be remembered for generations to come.
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Our AI charitable planning assistant can help you compare gift options, understand potential benefits, and answer common questions as you consider the best way to support the causes you care about.
- Secure, expert-informed guidance to support your charitable planning
- Quick answers to common charitable giving and estate planning questions
- Interactive gift comparison tools to help you evaluate your options
Chat with Max™ now or connect with a member of our team below to start the conversation and learn more.
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