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The Greater Worcester Community Foundation accepts a variety of assets as gifts.
Options of the types of assets you may give now include:
A gift of cash is the easiest way to create a new Fund or add to an existing one, and are tax deductible to the extent allowed by law - currently up to 50% of your adjusted gross income in any one year. Contributions exceeding this limit may be carried over and deducted for up to five years following the gift.
Donate now with a credit card using a secure vendor - Network for Good.
Check should be made payable to: Greater Worcester Community Foundation and mailed directly to the Foundation:
Greater Worcester Community Foundation
370 Main Street, Suite 650
Worcester, MA 01608-1738
Note the Fund name in the memo field.
Stocks and bonds that are highly appreciated may be given to the Foundation, thereby allowing you to deduct the full fair market value as a charitable donation and avoid capital gains tax. Instructions for transferring public traded securities can be accessed here.
For any questions contact Kelly Stimson.
There are excellent tax incentives for contributing stock of a closely-held corporation to a fund at Greater Worcester Community Foundation. If some or all of the stock can be contributed to a component fund of the Foundation before the terms of a sale of the corporation are completed, considerable financial resources can be made available for charitable purposes at the lowest after-tax cost to the donor.
Sometimes donors will be interested in giving closely-held stock to the Foundation even if the business is not likely to be sold. Typically, the donor contributes shares of stock to a component fund in the Foundation and the stock is later sold for cash by the Foundation. In such instances, the Foundation will not guarantee or pre-arrange such sale or make any other agreement that might imply or cause a material restriction to be imposed upon the contribution. To learn more...
Making a planned gift - one that benefits the community after your lifetime - is easier than you might think. Options include:
Your premium payments become tax-deductible when you designate the Foundation as owner and beneficiary of your life insurance policy. After your lifetime, the Foundation uses the money to create a fund in your name that fulfills your charitable goals in perpetuity.
Life insurance policies are an excellent vehicle for charitable gifts, often enabling donors to achieve family and charitable goals simultaneously.
For insurance policies with a cash surrender value whose original purpose no longer exists, you can:
Insurance for wealth replacement — When larger amounts, multiple heirs and a taxable estate are involved, a separate irrevocable life insurance wealth replacement trust can be the owner of the life insurance policy. With proper structure and procedures, transfers to the trust can be nontaxable, and distributions of death benefits through the trust to heirs are not in the estate for tax purposes. A life insurance wealth replacement trust can also be used to offset funding of charitable remainder trust.
To name Greater Worcester Community Foundation, Inc., as the plan beneficiary, contact the plan administrator of the IRA or tax-deferred retirement account and request a change of beneficiary form. Members of the Foundation staff are available to assist you with this process.
370 Main Street, Suite 650, Worcester, MA 01608 | (508) 755-0980 | email@example.com | Directions
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