Giving Strategies
Giving back to one’s community is a time-honored tradition, but it can also be confusing, complicated and time-consuming. The Community Foundation of North Central Washington is here to help you all along the way. We can help you get started by talking with you about your goals and how the Community Foundation can help you achieve them.
- Give Anonymously
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Many people wish to make charitable gifts without being recognized. For many personal, religious or privacy reasons, the Community Foundation honors our donor’s wishes for privacy and enables many of our donors to give anonymously.
- Types of Gifts
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When a donor makes the decision to contribute to the Community Foundation of NCW, the first consideration is...what to give? There are a number of factors to take into account, including the timing of such a gift and the need to retain a current stream of income. Do you make the gift during your lifetime or through a testamentary arrangement? The following is a sample listing of "what to give" based on the scenario that works best for you.
For charitable giving during your lifetime:
- Cash
- Publicly Traded Securities
- Closely Held Stock
- Real Estate
- Tangible Personal Property
- Private Foundations
For charitable giving after your lifetime:
- Charitable Bequests
- Life Insurance Policies
- Retirement Plan Assets
- Saving Bonds
To have current income and make a future gift:
- Charitable Remainder Trusts
- Charitable Gift Annuities
- Other Planned Gifts
Talk with your trusted financial advisors about the best way to give through the Community Foundation of NCW.
- Fiscal Sponsorships (Special Project Funds)
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With the approval of the Board of Trustees, the Community Foundation of North Central Washington will serve as the fiscal sponsor of a meaningful community special project. The project is usually one time, of short duration and/or until the project obtains its own 501(c)(3) status with the IRS.
- Involve multiple generations in giving.
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The Community Foundation can help you involve your entire family in your philanthropy, with tax advantages over a private foundation and without the administrative headaches. Through the Community Foundation, whether you start with $5,000 or $1 million, you have the resources of a $13.3 million foundation at your service.
- Student Scholarships
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If helping students prepare for their future through education is attractive to you, an endowed Scholarship Fund at the Community Foundation may be just what you need to fulfill your charitable wishes. The Foundation makes the process easy by providing administrative assistance to help manage the fund. We can help you establish the fund, develop selection criteria, and distribute scholarship applications in the community.
- Memorialize or Honor Someone Special
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The Community administers several memorial funds. We'll help you design a charitable program that best reflects your Fund's namesake, perhaps a scholarship fund or a fund designated to benefit a favorite charity. We're equipped to receive and acknowledge large numbers of gifts in a short period of time, as well as carry out your charitable plan over the years that follow.
- Make a Gift Now and Receive Income for Life
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The Community Foundation can work with you and your legal or financial advisor to set up a gift vehicle that will generate income to you for your lifetime, with a charitable tax deduction in the year you make the gift. When you use appreciated securities to make such a gift, no capital gains tax is levied, and if you contribute low-yield securities, you may actually increase your income from those stocks. Plus, you've made the current value of those securities available for charitable purposes.
- Simplify your annual Charitable Giving
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A donor-advised fund is a great way to simplify your annual charitable giving. The receipt for your gift to the Community Foundation is the only documentation you need for your tax return. As a donor-advisor, you may periodically submit a list to us of organizations you'd like to recommend for grants from your fund. We take care of all check and letter writing. Contributions are made in the name of your Fund, or anonymously, if you prefer
- Benefit the Community for the Future
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A permanent fund, or endowment, at the Community Foundation of North Central Washington will still be working for the community you love for decades and generations to come. You can endow a fund to carry out a very specific purpose, or address a broad area of interest, such as the arts or the environment. Create an unrestricted endowment and the Community Foundation will use your gift to meet the community's most pressing needs—even those we can't foresee.