Each year, the staff presents to the trustees a list of projects needing funding for which no funding sources exist. The trustees then decide which projects the Foundation should undertake and they utilize undesignated gifts to fund those projects.
Four ways to provide financial support for the special projects of the Foundation include:
Gifts of Cash, Bonds or Mutual Funds
Cash gifts can be deducted up to 50 percent of your adjusted gross income. Bonds and mutual funds are similar to cash in their tax treatment.
Gifts of Appreciated Stock
Appreciated stock (held more than one year) makes an excellent gift because you avoid all capital gains taxes, and you receive a tax deduction of up to 30 percent of your adjusted gross income on the full value of the gift.
Gifts of Life Insurance
A unique way to make a significant future gift is to name the Foundation beneficiary to receive all or a portion of the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value of the policy, which reduces your tax liability in the year of the gift.
Bequest Through a Will
One of the simplest ways to give part of your estate is through a will. You can make a gift of a specific dollar amount, a percent of your estate, or what is left (remainder) after others have been taken care of.
When you include the Foundation in your will, you also become a member of the John Knox Village Foundation Estate Society.
To give a gift that enriches the lives of older adults, contact the Village Foundation office at (816) 347-2382.
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