The Foundation accepts a wide variety of gifts/donations including cash, stocks, securities, estate gifts, mutual funds, distributions from IRAs or other retirement plan assets, real estate and life insurance policies.
NOTE: Donors are eligible for a tax deduction in the year the gift is made, to the full extent allowed by law. The type of gift determines the tax benefits that accompany it.
Cash gifts qualify as a charitable contribution for federal income tax purposes and may be deducted up to 50% of your adjusted gross income. You may carry forward for five (5) years any excess deductions.
By transfering appreciated securities to Kenosha Community Foundation you can avoid capital gains tax and still get a charitable deduction for the full market value of the securities. Gifts of appreciated securities are deductible up to 30% of your adjusted gross income.
Gifts of appreciated real estate may be deducted under the same rules as appreciated securities. You may give your residence and retain the right to live there for the remainder of your life.
You may make an outright gift to Kenosha Community Foundation in your will or you may establish a trust that will pay income to your family for their lives with the remainder of the trust payable to the Kenosha Community Foundation. The Foundation can be made the beneficiary of your retirement plan. You can also name the Foundation as beneficiary of your life insurance.
There are forms of living trusts that can be used as a part of your overall estate plan that will provide for you, you family and the Kenosha Community Foundation.