WAYS TO GIVE
The Montrose Community Foundation strives to provide simple, powerful and personalized approaches to giving. There are many options to choose from when giving to the MCF.
The simplest and most common way to make a gift is by check or credit card. Donations of cash are deductible if they are itemized in the year of contribution.
Stocks, Bonds, Mutual Funds
Many gifts of appreciated securities such as stocks, bonds and mutual funds provide a charitable deduction for the full fair market value of the donated asset.
Bank Accounts and CDs
You may name a charitable organization the “payable-on-death beneficiary” of your bank accounts or on certificates of deposit. You own the assets for your lifetime and have them available for your use. Upon your death, the assets pass directly to the organization without going through probate.
On a case-by-case basis, the MCF 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 has been owned for more than a year may entitle you to a tax deduction for the fair market value of the property while minimizing and often eliminating the capital gains tax that otherwise would be upon the sale of the property.
Give to any of our MCF funds online today. The Montrose Community Foundation believes in giving and provides numerous opportunities to connect philanthropists with worthwhile community causes. The potential to give is truly within us all!
Winston Churchill once said, “We make a living by what we do, but we make a life by what we give.”
Retirement Account Assets
An efficient estate planning option is leaving all or a portion of your retirement plan to charity, because tax laws often subject these assets to income and estate taxes upon death.
Many people find that the protection offered by life insurance policies is no longer needed later in life. Thus a life insurance policy can become an ideal tool for charitable giving. Name us or another charity irrevocably as the sole beneficiary. You can make annual tax-deductible contributions to cover the policy’s annual premium. Or, if the policy is paid up, you will receive an immediate tax deduction in an amount equal to the policy’s cash surrender value.
Bequests through a will are one of the most effective methods of providing for the MCF or your favorite charities while enabling you to keep assets or property during your lifetime. Naming the Community Foundation in your will can be accomplished through an amendment called a codicil and by establishing a fund through the MCF.
Fundraising is not easy, but donating a vehicle is! Help support us or one of our funds by donating your unwanted car to the Montrose Community Foundation. You can also donate your old boat, motorcycle, RV, and farm equipment. Its simple to start, and towing is included. Learn more about how to Donate Your Vehicle.
Thank you for keeping our community growing strong!
The Montrose Community Foundation is a charitable 501(c)3 organization committed to the development of our community. All contributions to the MCF are tax-exempt.