Types of Gifts

There are several types of charitable gifts that may be given at any time.  The Foundation is happy to discuss your personal giving options and answer any questions you may have about giving.

  1. Cash:  Cash contributions can be in the form of U.S. currency, money orders and checks.  All are deductible as an itemized deduction in the year you make the donation, up to a total of 50% of your adjusted gross income.  Excess charitable deductions can be carried forward for up to five additional years.  Checks should be made payable to:  Boone County Community Foundation.
  2.  Securities:  The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield.  In order to preserve advantages, it is critical that you transfer the physical securities to us rather than the proceeds from a sale.  If you have appreciated securities, ones that have a current market value higher than the purchase price and have been owned for more than one year, you pay no capital gains tax on the transaction and are entitled to a charitable education for the full market price. Depreciated securities should not be contributed as stock; sell it to realize the loss for tax purposes and then contribute the cash for a charitable deduction.
  3. Life Insurance:  You can contribute a life insurance policy to us by naming us as either the owner of the policy or simply as the beneficiary.  If you continue to pay premiums on a policy we own, you can deduct the payments, as well.
  4. Bequests:  A bequest through a will or trust is a popular option that can provide estate tax savings now for a gift you will make later.  This is a simple form of giving that often allows you to make a larger donation than you would during your lifetime.