Community Foundation — the end is near

Tami Sender

Oops! What I meant to say was the end of the year is near and we hope that you are thinking about making your end of year donation to the Charlotte Community Foundation (CCF).

In mid-October, the Charlotte Sun ran an excellent article entitled “Funding the Community” which was a Q&A between myself and writer, Elaine Allen-Emrich. I have received many phone calls since then with most people saying “Wow! I had no idea. You should write about it.”

So, here goes: The Charlotte Community Foundation is a tax-exempt 501(c)(3). Our mission: To connect people who care with causes that matter. We provide tax advantageous opportunities to people who want to support nonprofit causes in Charlotte County.

We are like a very large investment account for community donations. Individuals donate money, stocks, real estate, life insurance, etc. Through CCF, we invest the donations and distribute the investment back into the community to nonprofit organizations per the donor’s interest(s).

Most donors want their gift endowed in perpetuity. The donated portion remains invested forever. A fund is established, many times in the family name — which, when invested, provides a regular stream of revenue for charitable needs. Donors can designate a particular charity or can identify an area of interest that they want to support. Example: animals, art, education, environment, health, veterans, youth.

There are many ways to give. Donor Advised Funds (DAF’s) are popular these days especially since the stock market has performed well. These funds are quickly established, have no startup cost, provide an immediate tax deduction for capital gains and you’ll have plenty of time later to recommend which area(s) of interest you would like to support with your donation. CCF handles all of the administrative tasks. Yes. There is a fee, it costs less than 2 cents per dollar! 98 cents of every dollar donated goes to charity and you get to recommend the charity!

Another consideration is to donate part or all of your IRA Required Minimum Distribution (RMD). If you make a Qualified Charitable Donation from your IRA you do not have to count the distribution as taxable income and it can be used to satisfy your RMD! And, we all know that keeping your taxable income low is always good thing!

Of course, end-of-year cash, stock, life insurance, etc. donations directed to Charlotte Cares, to any of our existing funds, or to one our Nonprofit Agency Partner Funds are also tax deductible and greatly appreciated! These funds work the same way with annual distributions invested back into Charlotte County programs.

Regardless of your charitable interests or needs, please do not hesitate to begin the conversation, talk to your tax professional and then feel free to contact us to discuss your donor options and opportunities through the Charlotte Community Foundation. 941-637-0077

We are not licensed to practice or give tax advice. Please be sure to contact your professional tax advisor regarding tax advantageous donations through CCF.

Tami Sender is the CEO of the Charlotte Community Foundation and brings 30 years of nonprofit leadership to the foundation.