A bequest to a fund within The Community Foundation is the simplest way to ensure the things that you care about will continue beyond your lifetime. You can designate a set amount or percentage of your estate, leave your house or leave all remaining assets. Bequests to The Community Foundation can create significant tax savings for your heirs.
Charitable Remainder Trusts (CRTs) are a way for donors with appreciated assets that produce little or no income to provide financial security in the form of an annual income and provide a meaningful charitable gift. Because CRTs are tax exempt, appreciated assets (such as real estate or appreciated securities) can be sold without incurring capital gains tax. Proceeds from a sale are reinvested to generate annual income for the donor or a non-charitable beneficiary. At the donor’s death or the trust's beneficiary, the trust's assets are gifted to the Community Foundation.
With a charitable lead trust, you provide income to support your charitable fund now, for a designated period of years or for the lives of designated individuals. At the end of the term, substantial tax-reduced or tax-free assets are transferred to your heirs or others you designate. Your community and your loved ones both benefit from your generosity.
Assets from your IRA or other retirement plans can be used to support your charitable goals by designating the Community Foundation of Greater Rochester as a primary or contingent beneficiary.
You can transfer ownership of a cash value policy during your lifetime to create or support your fund and be eligible for an immediate tax deduction based on the policy’s current value. You can also name the Community Foundation of Greater Rochester as a beneficiary of an insurance policy as part of your estate plan.
You can make a meaningful gift of real estate (residence or farm) to the Community Foundation of Greater Rochester while retaining the right to use the property during your lifetime. Such a gift entitles you to take a charitable income tax deduction for the present value of the remainder interest in the property and escape potential capital gains on the property’s appreciation. You deed the property to the Community Foundation and retain the right to live in the home or on the farm during your lifetime. When the life estate terminates, the Community Foundation can sell the property and the proceeds will be used to support the causes that matter to you.