Becoming a Donor
Brevard County benefits from both large and small gifts given through the Community Foundation. You can have a lasting impact on the quality of life in Brevard County, right here, right now, and for years to come. Gifts to endowment funds are gifts that continue to enhance the quality of life in Brevard year after year.
We invite you to add to an existing fund or establish a new fund. You may also provide a lasting tribute to a loved one, a colleague, or friend by giving a memorial gift. Donors can make an outright give during their lifetime, or make provisions for a future gift through a bequest in their will or other estate planning arrangements. We will work closely with you and your professional advisors to carry out your personal charitable goals.
All contributions to the Community Foundation are deductible to the greatest extent allowable by law. Choose from the following options for giving through the Community Foundation to make a lasting difference in Brevard County.
Cash – The easiest way to contribute and may qualify for maximum allowable income tax deductions. Checks should be made payable to the Community Foundation for Brevard and may be designated to a specific fund currently administered by the Foundation or to establish a new fund.
Securities – Marketable or closely-held securities may be contributed and you can deduct the full fair market value as a charitable contribution, thus avoiding capital gains taxes on the appreciation.
Real Estate – Gifts of real estate afford the same tax advantages to you, the donor, as gifts of appreciated securities – a deduction for the appraised value and avoidance of capital gains tax on the appreciation. In some instances it may be beneficial for you to make a gift of future interest in a residence while retaining a life interest for yourself and spouse.
Life Insurance – Can be used to fund a gift at relatively low cost to you. You can gift a new policy or turn over an existing policy and name the Community Foundation as owner/beneficiary. By assigning ownership to the Community Foundation, you receive an immediate income tax charitable deduction in the amount of the policy’s present value. Additional premiums gifted to the Community Foundation are tax deductible, and proceeds pass to the Foundation free of estate tax.
Bequests – After providing for loved ones, you can make bequests to the Community Foundation in your will or trust. Federal estate and state inheritance taxes are saved and the good works you care about continue to benefit through a legacy created in the Community Foundation.
Charitable Remainder Trusts – A future gift may be made through a charitable remainder trust that pays a lifetime income to you or to a family member. Upon your death or the named beneficiary, the remainder passes to the Community Foundation.
Charitable Lead Trusts – You may create immediate income for a specific fund at the Community Foundation for a period of years, with the remainder returning to you or, with proper estate planning, passing to children or grandchildren.
Retirement Plans – You can use retirement plan assets [401(k), 403(b)] to make a gift to the Community Foundation or to create a new fund.
Private Foundation Transfer – Existing private foundations may choose to transfer assets to the Community Foundation. By doing so, gain public charity status and avoid the excise tax, payout rate, federal and state tax returns, and other administrative costs or tasks that burden private foundations. And there is the satisfaction of knowing that a permanent organization is in place to administer the fund in perpetuity.
For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact the Community Foundation for Brevard.