Waco Foundation offers many ways for individuals and organizations to support the Greater Waco and McLennan County area.
Acceptable assets include:
Many donors choose to set up donor advised fund to be actively involved in the grantmaking process. You can establish a donor advised fund quickly and easily with a short fund agreement and a single gift. You can then recommend grants from your fund to various charitable projects or organizations you wish to support.
Gifts of appreciated securities, owned more than one year, offer important tax advantages. With these types of gifts their full market value is deductible as a charitable contribution and allows you to claim up to 30% of your adjusted gross income each year when you itemize deductions.
As with gifts of cash, deduction amounts that exceed the limit may be carried forward into as many as five additional years. In addition, you will not have to pay federal or state capital gains tax on the appreciated portion of the gift.
You can make a gift to Waco Foundation by naming us as the beneficiary of a life insurance policy. You may also designate Waco Foundation as the owner and beneficiary of a paid-up insurance policy. In that case, you will receive an income tax charitable deduction equal to the lesser of the "replacement" value or cost basis of the policy.
You can also use life insurance as a wealth replacement asset. You may replace the dollar value of an asset transferred to Waco Foundation with a life insurance policy of which your family members are beneficiaries. The income tax and other tax savings from your gift to Waco Foundation are often more than enough to cover the cost of the insurance premiums.
Waco Foundation • 1105 Wooded Acres Drive, Suite 701 • Waco, Texas 76710 • 254-754-3404 | Directions
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