What To Give

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Donors can use a variety of assets to establish or add to a grantmaking fund at the Community Foundation of Greater Birmingham during their lifetime or through a bequest or estate plan:

  • Cash, check or credit card
  • Securities: All types of business assets, including publicly traded stock, publicly traded bonds, closely held stock, restricted stock, partnership interests (including family limited partnerships) and mutual funds.
  • Real property: Personal residence, farm, vacation property, commercial buildings, and income-producing or non-income producing land, which is usually facilitated by the Charitable Real Estate Foundation, a supporting organization of the Community Foundation.
  • Personal property: Artwork and jewelry
  • Bequests: You can name the Community Foundation in your will or living trust to benefit from a specific dollar amount, a percentage or all of your estate, or a percentage or all of your residual estate.  Or your will can specify that your heirs will receive lifetime income from your estate, with the remainder going to one or more funds within the Community Foundation or creating a new fund at the time of the gift. We can provide sample language for naming the Community Foundation in your bequest.
  • Retirement Plan Assets: You can name the Community Foundation as the remainder beneficiary of your retirement plan. Under current legislation through the end of 2011, individuals who are 70 ½ or older also may use IRA assets to the Community Foundation through a Charitable IRA Rollover.  Only Donor Advised Funds do not qualify for this type of transfer. Contact Erin Stephenson for details.
  • Life insurance: If you make the Community Foundation the owner and beneficiary of a cash value policy during your lifetime, you are eligible for a charitable tax deduction based on the policy’s current value.  You also can choose to name the Community Foundation as the beneficiary of a policy.

The Community Foundation is designed for maximum tax advantage and flexibility in helping charitable individuals, families and businesses drive positive change today and forever. To learn more or ask about using a particular asset, contact Erin Stephenson.