Tools for Giving

There are as many different kinds of charitable gift funds at Dade Community Foundation as there are donors. The Foundation can help you create a unique gift arrangement tailored to your client's charitable interests and financial circumstances with full tax benefit. After reviewing our different Types of Funds (Sample Agreements) you will be able to connect your client with an area of community needs he/she cares about (Field of Interest Fund) or help create a fund that serves the community needs of today, those far in future and secures a legacy of giving (Community Grants/ Unrestricted Funds). The above mentioned are but two examples of tools for giving offered by Dade Community Foundation. For the full range of giving vehicles, you can link to Types of Funds. For the full range of assets to give, you can go to Types of Assets (below). To better understand the tax implications you can link to Tax Advantages.

Charitable Bequest Through Your Will

(from left to right) Board member Marsha Madorsky, Esq.; State Attorney Katherine Fernandez Rundle; Foundation President Ruth Shack; and Board Chair, Teresa V-F Weintraub, Esq.
- Professional Advisors Network Event

A charitable bequest through you will is one of the easiest ways to make a gift that will make a lasting difference in the lives of others. The savings in estate taxes resulting from a gift to the community foundation can be dramatic. Bequests can take a variety of forms - a specific sum of money, a percentage of an estate or a certain piece of property. A donor can also designate the community foundation the 'residuary beneficiary' in the event other named beneficiaries do not outlive the donor. Whichever method is chosen, the fund at Dade Community Foundation will became an enduring symbol of the donors generosity.

Cash: Your client can establish a fund with the community foundation in his/her name and write a check to it at will. The fund has great flexibility and affords an immediate tax deduction. Cash gifts may be deducted for income tax purposes up to 50% of adjusted gross income, and contributions over that limit can be carried forward for up to five subsequent years. Only the income generated by the fund needs to be distributed - or at the donor's request we can pay out a portion of the principal periodically. And we provide the added benefit of assuring that the charities the donor wishes to support are on the up-and-up.

Publicly Traded Securities: A contribution of appreciated securities can produce significant tax savings for your client while allowing the client to be more philanthropic than he/she thought possible. That's because the client receives a double benefit: an immediate charitable deduction for the fair market value of the securities donated, and exemption to any capital gains tax on the appreciation. The fair market value of contributed securities can be deducted up 30% of the donor's adjusted gross income. In addition, if the amount is larger than the donor can use in one year, the surplus can be carried as a charitable deduction over the next five years.

Mutual Fund Shares: Mutual fund shares can also be excellent assets to contribute to the community foundation. Like gifts of publicly traded securities, gifts of mutual fund shares are deductible up to their full fair market value. Some mutual fund companies have special procedures for gifts of mutual funds.

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Prefessional Advisors Robert Elias, Gene Sulzberger, and Darin Zenov attend annual Professional Advisors Committee meeting