Planned Giving Options
The Youngstown Foundation can be a considerable resource as you help your clients consider philanthropy in their financial and estate planning. There are many powerful ways to give through The Youngstown Foundation. Our professional staff will work with you to identify which option is best for your client – now and in the future.
Gifts of cash are the easiest and most popular form of giving. Usually in the form of a check, it is fully deductible for federal income tax purposes often up to 50% of your clients' Adjusted Gross Income. Amounts given over this amount may be carried forward and deducted for five subsequent years.
Gifts of stock, owned for over a year, are deductible in amounts up to 30% of your clients' Adjusted Gross Income. Just like cash gifts, amounts exceeding this limit may be deducted for up to five additional years. Your clients also avoid paying any long-term capital gains tax on the increased value of their stock. Other marketable securities, such as Treasury Bills, mutual funds, or bonds, provide comparable tax-saving advantages.
Shares in a privately owned business can be contributed. Generally, donors are entitled to a deduction for the appraised fair market value, up to 30% of Adjusted Gross Income. Special rules apply to shares of sub-chapter S corporation stock. Limited partnership interests, such as investment or business partnerships, or family limited partnership interests can also be contributed.
Your clients expect to discuss charitable giving as they make their financial plans and they will appreciate the charitable impact and tax advantages you help them achieve by working with The Youngstown Foundation. As you work with your client on estate planning, propose that they consider leaving a portion of their estate to The Youngstown Foundation as a legacy gift. Remembering the Foundation in their will, financial or estate plans can:
- Significantly reduce tax liability
- Preserve their charitable intent in perpetuity
- Produce a financial windfall for their favorite church, school or charity
- When a life income plan is involved, provide added income benefits for themselves and their family
Whether your clients have a particular area of interest or charity they want to support, or want the Foundation to determine where grant funds are needed most in the community, we will honor your clients' wishes in perpetuity.