Ways to Give through the Wayne County Foundation
Cash, Check or Credit Card
With appreciated securities, donors can often be more philanthropic than they ever thought possible. Typically, the transfer of an appreciated asset, held more than one year, qualifies for an income tax charitable deduction for full fair market value; no capital gains tax payable on asset’s appreciated value.
A gift from your IRA
A qualified charitable distribution from an individual retirement account (IRA) is a well-established and popular way to give. If you are 70½ or older, this option allows you to make a charitable gift and satisfy your annual required minimum distribution (if one is due) without paying taxes.
Estate Gift (through your Will)
Providing for a gift in your will can create a larger charitable fund than might otherwise be possible today. With some planning, your charitable legacy can be fulfilled through your estate plans.
There are several ways to give through life insurance. You may give an already owned policy as a gift or name the Wayne County, Indiana, Foundation Inc. (our legal name) as the irrevocable owner and beneficiary.
Donating a gift of grain to the Wayne County Foundation is a simple way to make a lasting difference. By giving grain, you avoid including the sale of the grain in your farm income.
Charitable Gift Annuities
Assets (usually cash or securities) can be donated to charity in exchange for fixed annuity payments. The gift portion of the donation qualifies for an income tax charitable deduction; part of payments may be tax-free return of principal; capital gains tax on the transfer is spread over the donor’s life expectancy if donor is the annuitant.
Charitable Remainder Trusts
A charitable trust that pays annual benefits for life of the beneficiary(ies), or for a period up to 20 years; trust property is transferred to the Wayne County Foundation when the benefits end.
Private Foundation Transfer
Transferring a private foundation will preserve the identity and purpose of the original donor and family members. There are no taxes to pay and the Wayne County Foundation assumes all administrative responsibilities. Additionally, private foundation transfers offer flexibility, administrative savings and automatic audits. Your family’s wishes will be maintained in the future.