TYPES OF GIFTS
Charitable giving may be done at a time and in a way that suits your personal goals and circumstances. The Community Foundation of Shelby County accepts many different types of gifts that help you fulfill your dreams and receive the best tax advantages. Some donors prefer to make current gifts during their lifetimes. Others feel that a deferred gift is best.
Our staff can work with you and your financial or tax advisor in making whatever gift you choose. As with any gift to a charitable organization, gifts to the Community Foundation of Shelby County are irrevocable. We strongly encourage you to consult your tax advisor before making a sizeable gift to ensure the contribution is made in a way most advantageous to your situation. Regardless of the type of gift, we will send a charitable gift acknowledgment as substantiation to assist with your income tax filing.
Checks should be made payable to Community Foundation of Shelby County. The name of the intended charitable fund should be listed on the check’s memo line, in an accompanying note or on the Gift Form. Typically, cash gifts are deductible up to 50 percent of your Adjusted Gross Income (AGI).
Use a major credit card or your PayPal account to make a gift to any Community Foundation charitable fund. See the ‘Make a Gift’ button on our give page and follow the on-screen instructions. Gifts made using your credit card or PayPal account have the same deductibility as cash gifts.
When shares of publicly traded stock are given to the Foundation, the donor deducts the average share price on the day it was gifted. The Foundation sells the stock and places proceeds in a new or existing charitable fund. Other marketable securities such as bonds and mutual funds provide similar advantages. Contact the Community Foundation office for the information needed to make a stock gift transfer. Stock gifts are deductible up to 30 percent of your AGI.
Gifts of land can provide a deduction for the Fair Market Value of the property. Gifts of real estate are sold and the proceeds placed in a new or existing charitable fund. Farm land, primary or vacation homes, commercial buildings, or building lots are examples of real estate gifts. Before being accepted, real property gifts must meet requirements of our Policy and Procedures for Potential Gifts of Real Estate.
Gifts of grain provide a tax-saving agricultural connection to giving. Give the Gifts of Grain letter to your grain buyer and make sure they know the amount of grain (unsold) you would like placed into an account for the Community Foundation of Shelby County. The Community Foundation will sell the grain and transfer the proceeds into a charitable fund you designate.
For details about gifts, please refer to our Gift Acceptance Policy.