Making a Difference
Making charitable contributions is an art, a creative process that adapts to the changing needs and wishes of the donor.
Planned giving enables a donor to arrange charitable contributions in ways that maximize his or her personal objectives while minimizing the after-tax cost.
Anyone can donate to any existing fund through the Scott County Community Foundation at any time. Whether your passion is education, the arts, historic preservation, youth, elderly. faith or the community — giving is a simple process that will directly benefit others.
Call us at (812) 752-2057 for more information on how you can help Scott County!
This is the most frequent method of contributing. Your donation can be directed toward a specific charity or used at the discretion of the Foundation.
You receive a charitable tax deduction equal to the fair market value of any marketable securities that have appreciated in value since purchased; you pay no capital gains tax.
If you choose this method you simply assign the policy and beneficiary rights to the Scott County Community Foundation. Your charitable tax deduction would be lesser of the cost of the cash value of the policy. If you continue to pay annual premiums, these too are tax deductible. The future benefit to the Foundation would be equal to the face value of the policy.
You can include the Scott County Community Foundation in your will. The value of your bequest would not be subject to estate taxes, and your gift would continue your vital involvement in the future lives of the residents of Scott County.
If you are age 70 1/2 or older and have an Individual Retirement Account, you can direct a distribution from your IRA directly to us. The money is excluded from your income for federal tax purposes, and the amount counts toward your required minimum distribution for that year.
You also have the option of establishing a trust with some of your assets. You would receive a charitable tax deduction for the remainder value as determined by IRS regulation, and estate taxes would be reduced upon your death. You and your designated heirs would receive an income for life. The remainder would go to the Scott County Community Foundation.
You may give your assets to the Scott County Community Foundation for the designated period of time. The income from the assets would be available for grants. After this period of time, the property and trust can be returned to you or your estate. You pay no income or capital gains tax during the period the Foundation manages these assets.
You may transfer title to a residence, a farm or other real estate to an endowment fund. Certain transfers allow you to retain the right to live there for life and receive any income the property produces. A tax deduction is available in the year of the gift. The Board of Directors of the Community Foundation must approve the acceptance of any gift of real estate.
Donate bushels of grain or heads of livestock at the grain elevator or sale barn. This may eliminate or avoid taxes yet retain 100 percent of the value for the Community Foundation and your choice of fund(s).
Download Guidelines for Donating Gifts of Grain here.
Download Letter From Donor Regarding Gift of Grain here.
Download Guidelines for Donating Gifts of Livestock here.
Download Letter from Donor Regarding Gifts of Livestock here.
Would you like to recommend a grant distribution from your fund? You may download a Donor Suggestion Form.
Learn about our Acorn Fund program, which will allow you to establish your own fund and watch it grow for the future. We require a minimum $5,000 to establish an endowment fund, or $20,000 for a scholarship endowment fund. With the Acorn Fund program, you can work towards those minimums over a period of five years. Read more about the Acorn Fund program here…