We offer great flexibility to assist you in making your charitable donations.
The Community Foundation of Harrisonburg & Rockingham County (TCFHR) offers many options for your charitable donation of assets – both current and deferred – to fulfill your philanthropic intent and remain consistent with your financial and estate planning.
Outright Gifts – We can help you make your charitable donations today.
A gift of cash is a simple way to begin a fund or to make an impact on the needs in our community.
Stocks, Bonds, Mutual funds
Contributing securities can be a cost-effective way to maximize philanthropic options while minimizing tax liability. Please contact The Community Foundation to obtain transfer instructions for a gift of securities. Gifts of securities must be valued at $1,000 or more.
A gift of real estate may be a principal residence or vacation home, a farm, a commercial building, a subdivision lot or unimproved land.
Life Estate Arrangements
A charitable donation may also be a personal residence, vacation home, farm, etc., where you retain the right to occupy the property until death. At that time TCFHR will own the entire interest in the property. Such gifts are subject to the same rules governing other gifts of real estate.
A donor can name The Community Foundation of Harrisonburg & Rockingham County as the owner and beneficiary of an existing or new life insurance policy and potentially be eligible for a tax deduction equaling the cash surrender value of the policy.
Private Foundation Assets
Your existing private foundation may be converted into a fund at The Community Foundation of Harrisonburg & Rockingham County. This conversion enables you to retain the name and purpose of your private foundation while transferring the administrative and reporting responsibilities to TCFHR.
Planned Gifts – We can help you be certain your charitable donations continue forever.
Pension Plan Assets
Many investors are beginning to realize that at death, unused IRA assets will be heavily taxed. In fact, it is estimated that estate and income taxes could consume between 60% and 80% of the money remaining in IRA assets. Avoid this tax by naming The Community Foundation of Harrisonburg & Rockingham County as beneficiary of your unspent retirement assets.
Establishing a charitable trust can be simple and can have income, gift or estate tax benefits depending on the trust structure. As the donor, you can designate income beneficiaries.
You may transfer most assets you own through a written will or trust to benefit the greatest needs in the community, to designate your favorite charity/charities, or to support an area of interest. Your charitable donation can be used to accomplish almost any goal including:
- To establish a family legacy of giving that allows children to continue their involvement in giving
- To establish a scholarship fund
- To create an endowment for one or more charities
- To give to benefit Harrisonburg & Rockingham County through the Community Endowment Fund.
Our Gift Acceptance Policy is available upon request.
Our goal is to collaborate on a gift plan that meets your financial and philanthropic objectives.