Preserving and Enhancing the Quality of Life in Gloucester County
Ways to Establish Your Fund
Do you want to make an investment in the health of your own community? You can create a lasting gift by establishing a fund with any of the following:
Cash - Donate Online Securities Property Bequests Life Insurance Charitable Remainder
Trusts (CRTs)Charitable Lead
Trusts (CLTs)Private Foundation
Transfer
Donors in a position to invest $10,000 or more will want to consider establishing a named fund within the Gloucester Community Foundation. These funds provide a vehicle for charitable giving allowing you to conveniently donate to the charities of your choice. To learn more about establishing a fund, please email mnost@tcfrichmond.org or discuss this option with a member of the GCF Advisory Board.
We recommend that you discuss your interest in making a lasting gift with a qualified professional: your investment advisor, bank trust officer, CPA, attorney or other estate or financial planner. The Gloucester Community Foundation has professionals available to work with you and your advisor to help you achieve maximum results from your donation.
Cash is a simple, convenient way to give
and receive tax advantages.
Appreciated securities are particularly attractive as a way to avoid capital gains taxes. Because The Gloucester Community Foundation is a public charity, it qualifies for the most advantageous treatment under current tax laws.
Many donors contribute real or personal property. Property that has appreciated may offer you significant tax advantages.
Consider designating a special dollar amount or a percentage of your estate or leave the residue of your estate to the Gloucester Community Foundation. Bequests are usually fully tax deductible for federal and state purposes.
Consider giving a paid-up life insurance policy to The Gloucester Community Foundation. If the policy is not paid-up, you may make annual gifts to GCF to cover the premiums and receive tax deductions.
A CRT enables you to provide a lifetime income to yourself, your spouse, or other beneficiary and provide the trust principal to The Gloucester Community Foundation at your death. This principal can be used to create a permanent fund named for you or a loved one to carry out your charitable wishes in perpetuity.
A CLT enables you to provide current support to The Gloucester Community Foundation through annual payments from the trust's income for a period of years. These payments flow into an endowed fund named for you. Upon termination of the trust, the principal could return to you or go to other beneficiaries such as your grandchildren.
Some trustees of private foundations find the demands of reporting, administering, and making grants from their foundation burdensome. They favor transferring their assets to The Gloucester Community Foundation for professional management of both their dollars and grant making recommendations. Private foundations, in particular, may find this desirable as they would be relieved of paying excise taxes and other regulations. Such funds can be transferred with the assurance that philanthropic interests of the donor will live on in perpetuity.