Philanthropy comes in many sizes, shapes and forms; and we all have something to share. The Community Foundation of the Eastern Shore can help you structure an innovative or creative gift that will positively impact our community and the causes that matter to you.
Cash or Check:
A gift of cash by check or credit card is a simple, direct way to establish a fund or add to an existing fund. Donors who make gifts of cash are eligible for a charitable deduction in the year the gift is made. You can donate online any time here or mail checks to 1324 Belmont Ave. Ste. 401, Salisbury MD 21801.
Mutual Fund Shares:
You can transfer shares of a mutual fund to the Community Foundation of the Eastern Shore and receive an income tax deduction for the market value of the shares transferred. No capital gains taxes are paid by you or by the Foundation on the sale of the assets.
Stocks or Bonds:
Individual stocks and bonds can be gifted to the Community Foundation of the Eastern Shore. You receive an income tax deduction for the market value of the assets transferred. No capital gains are paid by you or by the Foundation on the sale of the assets. Stock Transfer Instructions >
Gifts of real estate, such as a house, land, or vacation home can make a great gift to the Community Foundation of the Eastern Shore. You can receive a tax deduction for the value of the gift and eliminate capital gains taxes on the portion gifted. Each gift of real estate is unique and will be reviewed on a case-by-case basis.
If you are over 70-1/2, you may be able to take advantage of the law allowing an individual to make a gift to charity out of an IRA (a Qualified Charitable Distribution or QCD), without having to pay taxes on the amount withdrawn. There is no accompanying charitable income tax deduction, but under current tax law this type of gift could be a tax-free transaction. Learn more here.
Life insurance is a simple way to make a future gift. You can designate Community Foundation of the Eastern Shore as a beneficiary to receive a percentage of the proceeds of an existing policy. Or if your life insurance has a cash value, you can gift the policy to the Foundation, and it will surrender it, without penalty, for the cash value. You receive an income tax deduction for the cash value.
Gifts that Provide You with Income:
A Charitable Gift Annuity is a way for you and/or a loved one to receive a fixed and secure stream of income for life. When you make this type of charitable gift (using cash or securities) to Community Foundation of the Eastern Shore, the Foundation makes a commitment to pay a fixed amount to you (and/or your spouse) for the remainder of your lifetime. After all payments have been made, the remaining assets are then contributed to your fund at the Foundation to accomplish your specific charitable goals. Income levels paid to you (and/or your spouse) depend on your age. You also receive a partial income tax deduction in the year you set up the gift. Charitable Lead Trusts allow you to set aside assets from which the income will be paid every year to the Community Foundation, and the principal will ultimately be paid to your heirs. This allows you to keep the assets in your family but pay out income to the Foundation regularly.
Gifts Through Your Estate:
One of the simplest ways to make a gift to the Community Foundation of the Eastern Shore that will live on after you is to give through your will or trust. You can make a bequest to benefit one or more charitable organizations through a fund at the Foundation. We provide an extra level of assurance that your charitable intentions will be fulfilled.
The information provided is general and educational in nature. It is not intended to be, and should not be construed as, legal or tax advice.