GIFT OPTIONS

The WKCF accepts several types of assets. Before making any gift, the Foundation strongly encourages you to contact your financial advisor for advice regarding your individual contribution. Please contact the Western Kansas Community Foundation office to coordinate your contribution.

• GIFTS OF CASH:
The WKCF accepts these contributions in the form of cash or check. Generally, outright cash gifts are deductible up to 50% of your adjusted gross income if you itemize.

• GIFTS OF STOCK:
Such gifts often provide important tax advantages. By giving stock through the Foundation, you can avoid capital gains taxes that would be due if you sold the stock Their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income. Gifts of mutual funds and closely held stock enjoy the same tax benefits as with publicly traded stock.

• REAL ESTATE:
Making a charitable gift of real estate through the WKCF can help you turn your property gains into community good. These gifts also provide important tax advantages, and are deductible as a charitable contribution up to 30 percent of your adjusted gross income. The added benefit of giving appreciated real estate is the avoidance of the capital gains tax on the appreciated 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.

• LIFE INSURANCE:
Life insurance provides a simple way for you to give a significant gift to charity, with tax benefits that you can enjoy during your lifetime.
If you name our community foundation as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction, which usually approximates the cash surrender value of the policy. All premium payments made by you thereafter will be deductible as a charitable contribution.
You may receive a number of tax benefits, including reduced income taxes and estate taxes.

• BEQUESTS:
Including a charitable bequest in your will is a simple way to make a lasting gift to your community. You can decide to do it at any age by adding to an existing will or drafting a new one. In doing so you leave a legacy to your community, while enjoying the assets you need to maintain your current lifestyle. You can name the Western Kansas Community Foundation as the direct beneficiary of specific assets, of a portion of total estate, the remainder of your estate after payment of other bequests, or you can make your gift contingent on certain events

• CHARITABLE REMAINDER TRUST:
A charitable remainder trust allows you to set aside assets for the ultimate benefit of your community yet allows you to receive income from those gifted assets for the remainder of your life.
CRT’s are irrevocable gift trusts that actually provide for and maintain two sets of beneficiaries. Once you transfer assets into a charitable trust, and the trust pays you or a beneficiary you designate regular income payments. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust transfer to the Foundation.

• CHARITABLE LEAD TRUST:
A charitable lead trust is a tax-advantage tool that allows you to use the income or capital growth of a particular asset to build a charitable fund over time while reserving the core asset for your heirs (or for your own future use). A charitable lead trust entitles you to a number of financial benefits. A charitable lead trust shelters investment earnings from tax and offers gift, estate, and generation-skipping tax benefits. Charities receive a steady stream of income during the term of the trust. When the trust terminates, its final assets are transferred to those you designate.