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370 Main Street
Suite 650
Worcester, MA 01608
(508) 755-0980
Contact Us
Giving
Now
We
make giving easy by accepting a wide variety of assets. Gifts may be added
to an existing
fund or used to create a new Named Fund.
Cash is the easiest way to create a new Fund or add to an existing one. Gifts of cash 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. To donate now click here.
Securities including 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. For wiring instructions contact Ann T. Lisi.
Closely-held stock or Family Limited Partnerships such as those in a family company may have substantial tax benefits. Typically, a gift of stock is made to a component fund at the Foundation and later sold for cash. In some instances, your closely-held corporation or family limited partnership may be interested in repurchasing the donated shares. IRS rules preclude any prearranged sale or other agreement that might imply or cause a material restriction to be imposed upon the contribution. To learn more about Closely-held stock, click here. To learn more about Family Limited Partnerships, click here.
Real Estate is accepted after careful evaluation. The property must be readily marketable and free of environmental problems. The Foundation's general policy is to accept gifts of real property so that it may be sold and the proceeds added to an existing Fund or to create a new one. You receive a charitable deduction for the value of the property and avoid capital gains taxes. .
Personal Property such as artwork or porcelain must be marketable and are accepted after careful review. The Foundation will sell the property and use the proceeds to add to an existing fund or create a new one.
Transfer of an Existing Private Foundation to Greater Worcester Community Foundation relieves you of the complying with complex tax and reporting requirements while ensuring that the charitable purpose continues well into the future. Members of the former private foundation may serve in an advisory capacity.
Charitable Lead Trust makes payments to a Named Fund at the Foundation for charitable purposes you specify. After a set number of years, the trust's remaining principal and any accumulated appreciation can be distributed to children, grandchildren or other named beneficiaries, often with significant estate tax savings.
To find out more about options for creating a Named Fund after your lifetime, such as Charitable Gift Annuities, Pooled Income Fund and Charitable Remainder Trusts, click here.
If you have any questions about any of these options or wish to discuss your personal situation, please call Executive Director Ann T. Lisi.