You can receive the best tax benefits available under the law by working with the Community Foundation.
- Federal tax deductions - the Community Foundation is a 501(c)(3) public charity. As such, gifts to the Community Foundation qualify for the best income, gift, estate and generation-skipping transfer tax treatment allowed for charitable transfers.
- You avoid capital gains taxes on gifts of long-term appreciated assets such as stock (both public and privately owned companies) and real estate. Your deduction will be valued at full fair market value, but you won't have to recognize the built-in gains as income.
- Funds established at the Community Foundation are not subject to private foundation income taxes, excise taxes or 5% mandatory distribution rules.
- Gifts to funds at the Community Foundation receive more favorable tax treatment than gifts to private foundations.
In addition to the many tax benefits you receive, you also get other benefits, including:
- No start-up fees for creating a fund at the Community Foundation.
- Cost savings realized for administration and investment services due to our size and professional staff efficiency. Please call us (313) 961-6675 to learn more about the many benefits of working with the Community Foundation.