Five reasons to consider charitable giving through YCCF:
- You don’t need to be wealthy to leave a gift.
- You can support the causes you care about most – forever.
- You can provide for your family AND support charity at the same time.
- YCCF provides flexible options for giving.
- Your name can live on forever.
To find out all the ways of giving (now and later) please contact us so that we may help you meet your philanthropic goals.
There are 5 types of endowed funds at the Community Foundation:
The Fund for York County is our fund that can most flexibly address the county’s greatest needs. The Fund for Greater Hanover addresses the Hanover area’s most pressing needs. These community needs are determined through research-based analysis and become our high-impact initiatives.We then award grants that support these initiatives and cumulatively create a high positive impact on the community. Committees consisting of community members and Community Foundation Board Directors then distribute grants to nonprofits who will carry out this change.The Fund for York County and Fund for Greater Hanover allow you to either donate ANY amount of money which will then be added to the fund or create your own named fund for $10,000.
Our eight Field of Interest Funds allow you to either donate ANY amount of money that will be added to the fund endowment or create your own named fund within one of the established fields of interest. Committees consisting of community members and Community Foundation Board Directors then decide where the greatest need within the field of interest is and distribute grants accordingly.
Field of Interest Funds allow you to either donate ANY amount of money which will then be added to the fund or create your own named fund for $25,000.
Currently, our Field of Interest Funds include:
- Agriculture & Land Preservation: Improving farming and preserving farms and natural lands through conservation, education and support of farmers.
- Arts & Culture: Supporting programs and initiatives that enhance living through art and culture.
- Children & Youth: Promoting early childhood investments and positive youth development for the future.
- Community Development: Investing in the long-term vibrancy of our entire community through beautification projects, enhancing cultural appeal, strengthening the economy and attracting residents.
- Education: Promoting innovative approaches to education, research of opportunities and implementation of fact-based solutions to improve academic achievement.
- Embracing Aging: Building a community where all people can age with dignity, independence and health.
- Environment: Promoting awareness, protection and conservation of natural resources.
- Health and Human Needs: Ensuring that residents with the fewest resources and the greatest challenges have access to opportunities to improve their lives.
Creating a Donor Advised Fund allows you, your family or your company to make a gift to the Community Foundation, then remain actively involved in recommending grants from your fund.
A fund in your name can be opened for a minimum $25,000.
Establishing a Designated Fund allows you to give to your passion forever. You choose one or more nonprofit organizations to receive annual gifts from your named fund and then the Community Foundation ensures that your passions are attended to forever.
A designated fund in your name can be opened for a minimum of $25,000.
A Heritage Fund is a Fund established by a nonprofit organization (or individual for that organization) that resides under the stewardship of the Community Foundation. The Fund will in perpetuity benefit that organization. Your gift in any amount to an established Heritage Fund provides that nonprofit with a gift that will forever be used for the organization’s well-being as determined by their board.
Check out all of our named funds and read about the people who have created their legacies through the Community Foundation.
Ways to Give Now
A cash gift is the simplest way to create a fund or give to an existing fund. Cash gifts are fully deductible up to 50 percent of the donor’s adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five additional years.
Gifts of appreciated securities (stock, bonds and most mutual funds) also provide tax advantages. If your clients have held the securities for one year or longer, the current value generally is tax-deductible up to 30 percent of their adjusted gross income, with a five-year carryover if the gift amount is more than the 30 percent limit.
We can accept a gift of a house or other personal residence, farm, commercial building and income producing or non-income producing land. A gift of real estate your clients have owned for more than a year entitles them to a tax deduction for the fair market value of the property, and they avoid paying capital gains taxes.
When your client names the Community Foundation as the owner and beneficiary of an existing or new life insurance policy, they receive an immediate tax deduction that usually approximates the cash surrender value of the policy. All premium payments made thereafter are deductible as a charitable contribution.
Your clients can turn their property’s value into community good by making a gift of real estate to York County Community Foundation. Your clients can continue to live in and fully enjoy their home (or vacation property) while giving the future ownership of it to the Community Foundation. This is called a Retained Life Estate. The gift of the “remainder interest” is a charitable contribution in the year the gift arrangement is made, which may result in a substantial income tax charitable deduction. When the life tenancy terminates, the Community Foundation becomes the owner of the property. The proceeds of the property’s sale may be used to establish a fund at the Community Foundation or be added to an existing fund.
Ways to Give Later
A charitable bequest enables your clients to retain control over their assets during their lifetime and support the community they love later. A charitable bequest can be a specific dollar amount, a percentage of an estate, or what remains after other bequests are made.
Individual Retirement Accounts (IRAs) or other qualified retirement plans are often one of the best types of assets to leave to charity because they are taxed so heavily when left to heirs. When your clients leave retirement plan assets to the Community Foundation, 100 percent of the gift will be available to support their charitable interests. It’s as easy as naming the Community Foundation as the beneficiary.
Charitable Gift Annuity (CGA) or Charitable Remainder Unitrust (CRUT)
- Receive guaranteed income for life,
- Benefit from an immediate income tax deduction,
- Leave a legacy that supports your passion or community
Charitable Remainder Trusts
Payments are based on age: the older your clients are, the greater the annuity payment. If they choose, they can receive an income tax deduction now and defer receiving the annuity payments until a future date. After receiving annuity payments for life, the remainder interest may be used to establish a named charitable fund, or be added to an existing fund. The tax advantages of both a current and deferred annuity are two-fold. First, your clients receive an immediate charitable income tax deduction when they create the annuity. Second, a portion of the payments they receive may be treated either as tax-free return of principal or long-term capital gains. These tax advantages increase the effective value of the annuity payments.
A charitable remainder trust offers your client a great deal of flexibility. Payments may be made to your client or another beneficiary for life, or a specified number of years. The income beneficiaries annually receive is an amount equal to a fixed percentage of the trust’s fair market value, or a fixed dollar amount. A charitable remainder trust may be set up during your client’s lifetime or through their will. The eventual distribution to the Community Foundation will only take effect upon the death of the trust’s income beneficiaries, or at the end of the specified number of years. At this time, the remainder of the trust transfers to the Community Foundation.