Below is a description of some of the many charitable assets you may wish to donate to the Foundation. There are other assets which qualify as charitable gifts, and we encourage you to consult with your financial advisor and tax professional before making your final decision. Most charitable asset gifts qualify for maximum tax advantage under federal law.
OUTRIGHT CASH GIFT
Your gift of cash to the Solano Community Foundation is the most expedient and direct method giving. Your contribution is 100% tax deductible at the time of gift. Your gift can go to support the operation of the Foundation to insure our capacity to continue to grow and serve the community, to an existing component fund already established at the Foundation, or to establish your own Fund.
GIFT OF REAL ESTATE
Making a charitable gift of real estate through the Solano Community Foundation can help you turn your property gains into community good. Gifts of real estate range from personal residences and vacation homes to rental properties, farmland, and commercially developed land — the value of which may exceed that of any other asset you own. With the help of the Solano Community Foundation, you can use real estate to make a bigger charitable difference than you thought possible, avoid estate taxes, and minimize or eliminate burden placed on your heirs.
You may choose to give real estate outright and receive an immediate tax deduction, or retain the use of the property during your lifetime and make a planned gift to the Solano Community Foundation. You may also choose to convert real estate into a stream of income for the rest of your life by establishing a Charitable Remainder Trust with the Solano Community Foundation. Doing this lets you transform a low-yield asset into a higher-yield, income-producing asset and claim a tax deduction for the charitable portion of the gift.
A gift of real estate must be professionally appraised to establish its fair market value. It is also assessed for compliance with our acceptance policies to make sure its resale will provide the appropriate value to community.
GIFT OF LIFE INSURANCE
Life insurance provides a simple way for you to give a significant gift to charity and establish your legacy, with tax benefits that you can enjoy during your lifetime.
You can make a gift when life insurance is no longer needed for personal financial wealth replacement by either giving a paid-up policy or continuing to pay premiums. You may receive a number of tax benefits, including reduced estate and income taxes. And, if you choose to continue paying premiums through the Solano Community Foundation, you will be entitled to a charitable contribution deduction of up to 50 percent of your adjusted gross income.
You can replace the dollar value of an asset transferred to the Solano Community Foundation with a life insurance policy. Or, you can use regular payments from a Charitable Remainder Trust to establish an irrevocable life insurance trust. The trust can purchase insurance on your life to benefit your heirs. This way, you can make a gift to the Solano Community Foundation and replace the value of this gift within your estate with life insurance proceeds.
GIFT OF APPRECIATED STOCK
Everybody wins when you make a gift of appreciated stock to the Solano Community Foundation. Your gains are put to good use. Your gift of stock is reinvested in your community, and it qualifies for an immediate tax deduction based on the full market value.
Giving appreciated stock through the Solano Community Foundation is popular among a range of givers — individual investors, families, entrepreneurs, and even groups of friends who have formed investment clubs.
By giving stock to the Solano Community Foundation, you can avoid capital gains taxes that would be due as a result of its sale, and establish a charitable fund that benefits the local causes and organizations you care about most. With gifts of appreciated stock, your stock market earnings translate into community impact, so you get a more rewarding return on your portfolio. You can set up a scholarship program; support special programs for at-risk youth, senior citizens, or other people in need; address environmental concerns; support the arts; or any other charitable cause dear to your heart.