Waco Foundation is committed to promoting and facilitating local philanthropy. There are many ways to give and several things to consider so each gift generates the greatest benefit for the donor and the nonprofit or charitable cause.
We love Waco, and Waco Foundation's purpose is to make Waco better.
There is no greater purpose than that, in my opinion."
Art Pertile, III and Renita King
Foundation staff are pleased to work with donors and financial advisors to facilitate all types of charitable gifts for the benefit of McLennan County residents.
The easiest way to give and it's always tax deductible.
Donors can give to any of Waco Foundation's currently established funds 24/7.
Gifts of Stock
A donor may avoid capital gains tax by donating appreciated stocks, bonds and/or mutual fund shares they have held “long-term” (more than one year) . The donor is able to claim a federal income tax charitable deduction for the full market value of the security donated rather than the lesser amount they originally paid for the security. It is important to remember the donor should give the appreciated stock directly to the charity to avoid triggering a taxable transaction.
IRA Charitable Rollover
The IRA Charitable Rollover provision allows individuals who have reached age 70 1/2 to donate up to $100,000 from their Individual Retirement Account (IRA) directly to a public charity. The donor is then able to exclude the direct rollover from taxable income. This provision is a popular way to make charitable gifts, while also satisfying IRA minimum distribution requirements.
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 owned by a donor for more than a year may offer the same federal tax advantages available for gifts of securities: a tax deduction for the fair market value of the property while minimizing and often eliminating the capital gains tax that otherwise would be assessed upon the sale of the property.
Waco Foundation accepts gifts of closely held stock, limited partnership interests and interests in limited liability companies. Like other appreciated property, these types of gifts may be the most tax advantageous way for a donor to make a significant donation. These types of gifts can be more complicated and require prior approval by our Board of Trustees. We have accepted a number of these assets and our knowledgeable staff can help coordinate the details with you and your advisors.
Waco Foundation accepts and facilitates deferred charitable gifts in the form of bequests, beneficiary designations and charitable trusts. To visit with a Foundation representative about deferred gifts, please contact Rachel Hobbs, Planned Giving Coordinator, at 254.754.3404 or firstname.lastname@example.org