You can establish a memorial gift at Waco Foundation to honor a family member or friend.
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.
- Donor advised funds are particularly useful for families who have broad charitable interests but may have a one-time tax or income event that necessitates a large gift that can then be used to fund charitable activity over a number of years.
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.
On a case-by-case basis, Waco Foundation accepts gifts of real estate such as houses or other personal residences, farms, commercial buildings, land and income-producing property. A gift of real estate that you have owned for more than a year may entitle you to the same federal tax advantages available for gifts of securities: a tax deduction for the fair market value of the property, coupled with avoidance of capital gains tax.
A bequest to Waco Foundation ensures that the charitable causes which have become important to you and your family continue to be supported beyond your lifetime. Bequests can be made by will or revocable trust and can take a variety of forms such as a specific amount, a percentage of your estate or a certain asset. You can also name Waco Foundation as the residuary beneficiary of all or part of your estate after other bequests have been made or as a contingent beneficiary in the event other named beneficiaries do not outlive you.
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.