| |
 |
|
|
Advantages of the Trust
Stability and Permanence
With the exception of pass-through advised funds, most funds at the Williamsburg Community Trust are permanent. When you donate to a permanent fund, the principal of the gift is never spent. It is carefully invested, and a percentage is distributed annually to address specific local causes and issues.
Simplicity
Setting up a fund with the Trust is less costly and time consuming than establishing a private foundation. The Trust keeps necessary records, reports to the IRS and simplifies the giving process for you.
Flexibility
Gifts to the Trust can take many forms, including cash, appreciated securities, closely held stock, real estate, life insurance and private foundation transfers.
Tax Benefits
When you make a gift to the Trust, a tax-exempt, nonprofit 501(c)(3) public charity, you will receive the maximum tax benefit allowed by law.
Recognition or Anonymity
You may choose public recognition for your gifts or remain anonymous.
Low Administrative Costs
Funds are charged low fees for administration and professional investment management.
Professional Management and Accountability
All assets are managed by investment professionals chosen for their integrity, competence and performance. The Board of Trustees, through an Investment Committee, provides oversight to assure sound financial management. Periodic independent audits will ensure fiscal responsibility.
Knowledge of Regional Concerns
The Trust Board of Trustees and Distribution Committee know and understand the community's needs, and can help donors in making wise decisions about giving in many areas such as children and youth, seniors, education, civic life, environment and preservation, human services, and the arts.
Services for Advisors
The Trust staff and volunteers, working closely with professional advisors such as attorneys, CPAs and financial planners, can assist in developing charitable giving plans to address clients' interests and needs. Call Nancy Sullivan for further information at 757-259-1660. |
Ways to Give
top of page
Gifts in any amount may be made to the Community Endowment, Administrative Fund or to any named fund in the form of cash, check, or appreciated securities If your company has a corporate matching gift program, you may be able to increase your current gift to the Trust.
Appreciated Securities
Gifts of appreciated securities save income tax and also avoid the capital gains tax that would be imposed if you sold the securities yourself. For most donors, the full fair market value of stocks and bonds may be deducted for income tax purposes up to 30 percent of adjusted gross income with a five-year carryover. The actual impact of such a gift on your personal taxes should be reviewed with your tax advisor.
The Trust will also accept the following types of gifts: closely held stock, real estate, life insurance, retirement assets, bequest by will or charitable trust.
Closely Held Stock
These gifts may be particularly advantageous if you plan to sell your business in the near future or if the gifts carry out an objective of your estate plan. Such a gift would help your community and lower your capital gains taxes on the sale or transfer of your business. In some cases, your closely-held corporation may be able to buy back stock you donated to the Foundation, thus providing cash for the Foundation. Under IRS rules, however, such repurchases may not be prearranged. Please call the Trust for information on making this type of gift.
Real Estate
The Foundation welcomes outright gifts of real estate if the real estate is readily marketable, of sufficient value, and free of environmental or other problems. Such gifts are subject to special review by the Foundation’s Executive Committee.
Life Insurance
Discuss with your insurance agent the use of life insurance as a planned giving tool. With the proper planning estate taxes can often be reduced or eliminated.
top of page
Legacy Society
The Trust’s Legacy Society comprises individuals who have notified the Trust that they intend to establish a fund through their estate plans. You can provide for the creation of a fund, or add to your existing fund, through a bequest, charitable trust, life insurance, IRA, or other retirement account. The option you choose will depend on your financial circumstances. Legacy Society members are recognized as donors during their lifetime.
A Bequest to the Trust continues the donor’s good work in perpetuity. If you have included the Trust in your estate plans and would consent to be recognized as a member of the Legacy Society, please notify the Trust office.The Trust is a participant and sponsor of Leave a Legacy Greater Williamsburg ® |
Types of Named Funds
top of page
Most named funds may be established with a minimum gift of $5,000 pledged over five years.
Unrestricted
You rely on the Trust’s Distribution Committee to award grants to a variety of local nonprofit organizations through an annual competitive process.
Donor-Advised
You choose which charities you wish to support through a recommendation to the Board of Trustees. In most cases, a donor-advised fund can be a simpler, less taxing alternative to a private foundation.
Designated
You choose a specific organization or organizations to receive annual distributions from the fund.
Field-of-Interest
You select a broad area of interest, such as education, arts, or civic affairs to receive grants.
Agency Endowment Funds
Nonprofit organizations establishing endowments with the Trust will benefit from expertise in gift acceptance, investment management and planned giving.
Private Foundations
May be used to create any type of fund. Purposes of the resulting component fund must be consistent with the Trust's mission, policies and legal obligations.
top of page
|
 Advantages of the Trust Types of Funds Ways to Give
|
|
For further information e-mail ncsullivan@williamsburgcommunitytrust.org |
|
| ©2008, Williamsburg Community Trust, Williamsburg, Virginia All Rights Reserved |
|
|
|
|
