| Superior Tax Advantage |
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▪ Enjoy gift deductibility up to 50% of adjusted gross income. |
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▪ Avoid costly excise taxes and payout requirements. |
| Simplicity and Flexibility |
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▪ Establish your fund with a simple agreement, usually without legal fees. |
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▪ Recommend the charities you wish to support, or entrust those decisions to us. |
| No Administrative Headaches |
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▪ Benefit from our low administrative overhead, which leaves more money for charity. |
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▪ Leave IRS reports and independent audits to us. |
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▪ Let us investigate grant requests, write checks and monitor funded programs. |
| Secure Fiscal Management |
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▪ Our assets are maintained by leading financial institutions. |
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▪ We provide expert investment oversight by experienced, professional advisors. |
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▪ Grants are overseen by the board of the Gloucester Community Foundation. |
| Please consider establishing a fund with the Gloucester Community Foundation |
| HERE'S HOW |
| Please consider establishing a fund with the Gloucester Community Foundation |
To accommodate donors and provide ample flexibility, there are a number of ways to establish a fund with
The Gloucester Community Foundation. |
| Please consider establishing a fund with the Gloucester Community Foundation |
| Donor Advised Fund |
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▪ You, the donor, make recommendations concerning distributions of income, subject to approval by the Foundation Board. |
| Field of Interest Fund |
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▪ The gift is made to benefit the donor’s general area of interest, but not to a specific organization. The donor’s suggestions are used as a basis to choose recipients of this fund. |
| Unrestricted Fund |
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▪ This offers the most flexible way to meet a broad range of community needs. Grants are made by The Gloucester Community Foundation where there are significant needs. |
| Designated Fund |
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▪ You choose a specific organization or group to receive long-term support. Income from your gift is disbursed annually, according to your designation.
The Gloucester Community Foundation Board may recommend new recipients, but only if it becomes impractical or unwise to continue providing funds to the original beneficiaries. |
| Memorial Fund |
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▪ You may establish a fund in memory of a person of your choosing, or someone you may wish to honor with a lasting testimonial during their lifetime.
By establishing a memorial fund with The Gloucester Community Foundation, you create a permanent legacy for future generations. |
| Agency Endowment Fund |
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▪ This is available for use by other charitable organizations that prefer the advantages of establishing an endowment fund with
The Gloucester Community Foundation rather than creating and managing a fund themselves. |
| Scholarship Fund |
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▪ You may establish a fund, in the name of your choice, to assist deserving persons in obtaining or furthering their educational pursuits. |
| Administrative Endowment Fund |
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▪ You may wish to make a gift that will provide operating support for the Gloucester Community Foundation. |
| Please consider establishing a fund with the Gloucester Community Foundation |
| Please consider establishing a fund with the Gloucester Community Foundation |
| HERE ARE THE WAYS |
| 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. Because the Community Foundation is flexible, you can create a lasting gift in a variety of ways. |
| Please consider establishing a fund with the Gloucester Community Foundation |
| Cash |
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▪ A simple, convenient way to give and receive tax advantages. |
| Securities |
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▪ Gifts of 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. |
| Property |
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▪ Many donors contribute real or personal property. Property that has appreciated may offer you significant tax advantages. |
| Bequests |
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▪ 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. |
| Life Insurance |
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▪ 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. |
| Charitable Remainder Trust (CRT) |
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▪ 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. |
| Charitable Lead Trust (CLT) |
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▪ 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. |
| Private Foundation Transfer |
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▪ 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.
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