Donors have many options for contributing to the Women's Fund of the Oshkosh Area Community Foundation. The Community Foundation can help you reduce taxes by tailoring your gift to your financial situation.
Appreciated Securities (Stocks)
Gifts of Appreciated Securities or stock save income tax and avoid the capital gains tax you would pay if you sold them yourself. For most donors, the full fair-market value of publicly-traded stocks and bonds may be deducted for income tax purposes up to 30 percent of adjusted gross income with a five-year carryover. The actual impact of such a gift on your personal taxes should be reviewed with your tax advisor.
Bequests are the simplest way for many donors to make significant, lasting gifts to their community. After the needs of spouses, children and other loved ones have been addressed, many individuals find it satisfying to know that a portion of their resources will go toward the common good. When you are preparing a will, ask a simple question: "Are there any charitable interests you would like to support?" A bequest can also significantly reduce the federal estate tax and the inheritance tax due at the donor's death. Because a bequest to create a named fund in the Women's Fund qualifies for an unlimited charitable deduction and because combined federal and state taxes can exceed 67 percent on larger estates, a bequest gift can create dramatic tax savings. Thus, many people can make significant gifts at a relatively small cost to their heirs. Alternatively, you can make the Women's Fund a contingent beneficiary in the event other beneficiaries die before you.
The fastest and most flexible way to contribute to the Women's Fund is with a cash gift. You can contribute cash, write a check or make a donation with your credit card. Gifts are tax-deductible, to the full extent allowed by law.
Charitable Gifts Annuities
Charitable Gift Annuities are a way for you to make a gift to the Women's Fund and still receive income for yourself or for others. A charitable gift annuity is a contract between you and the Women's Fund of the Oshkosh Area Community Foundation. In return for your donation, you will receive a yearly fixed payment, paid until your death, when the balance of the contract is donated to the Women's Fund in a fund designated by you, the donor. The size of the annual payment depends on the annuity rate, the value of the contribution, the number of annuitants, and your age. You will receive a charitable deduction and a portion of the annual payments may be tax free. To receive your complimentary Charitable Gift Annuity calculation, call (920) 426-3993.
Charitable Lead Trusts
Charitable Lead Trusts reverse the concept of the more frequently used charitable remainder trust. Assets are transferred into a trust for a designated number of years. Annual payments are made to a charity or charities of your choice for those years; upon death, the assets are paid to named beneficiaries. For donors with larger estates, lead trusts offer an attractive way to make immediate charitable gifts in combination with transfers of assets to beneficiaries at substantially reduced gift and estate taxes.
Charitable Remainder Trusts
Charitable Remainder Trusts are such a beneficial life income plan that some financial advisors even recommend it to clients with no previous interest in charity. It is best suited for gifts over $50,000. You create a separate trust. In the trust, you reserve a life interest for yourself. You can also create a succeeding life interest for a survivor beneficiary, often a spouse, parent, sibling, other relative or friend. In lieu of a life interest, the trust can provide the named beneficiary income for a certain number of years. Upon the death of the named beneficiary, or at the end of the proscribed number of years, the charitable remainder trust terminates; the principal, which has often appreciated in value, passes into a perpetual charitable fund in the Women's Fund. That fund can bear your name or any name that you choose. It is also possible for another charity or charities to share in this final disposition.
Life Estates entail donating the remainder interest in a home or farm. You and your spouse can continue to live in the residence for life, while obtaining a generous current income tax deduction. Vacation homes may also be donated. On termination of your interest(s), the Women's Fund will sell the property and establish a charitable fund with the proceeds.
Gifts of Life Insurance are an increasingly popular means of charitable giving. Gifts of Life Insurance allow you to make relatively small, yearly, tax-deductible contributions to leverage a substantial fund that will pass to the Women's Fund upon your death. The procedure is simple: you take out an insurance policy on yourself, vesting all ownership rights in the policy to the Women's Fund and irrevocably naming the Women's Fund as the beneficiary of the proceeds. Each year, you pay the annual premium, which is fully deductible as a charitable contribution. Upon your death, the proceeds of the policy pass to the Women's Fund, free of estate taxes.
We welcome gifts of real estate that are readily marketable and free of environmental or other problems.