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If you have further questions that aren't answered below, please contact Linda Franciscovich, Vice President of Development and Philanthropic Services, at 203.750.3200.
Questions About Giving
How can I make a gift of securities?
Donating appreciated securities often allows donors to make a bigger
philanthropic impact and enjoy greater tax advantages than donating
cash or selling the stock and donating the proceeds. The Fairfield
County Community Foundation offers expertise in even the most
complicated charitable transactions, from publicly traded securities to
shares in S corps or privately held securities.
By donating
appreciated securities, you bypass capital gains tax and may deduct the
fair market value of your gift. Stock donations may be made to any fund
at the Foundation. They may also be used to create a charitable
remainder trust or other planned gift.
To learn more, please contact Linda Franciscovich, Vice President of Development and Philanthropic Services, at 203.750.3200.
What is the difference between a community foundation and a private foundation?
To learn more about the differences between community foundations and private foundations, please see "Comparing Vehicles for Charitable Giving."
Is the Fairfield County Community Foundation a "charity?"
Yes. The Foundation is a 501(c)(3) public charity under the IRS tax code.
Are gifts tax deductible?
Yes. Donors receive the maximum tax advantage when they contribute to the Fairfield County Community Foundation.
What is a community foundation?
Community foundations are one of the fastest-growing sectors of
philanthropy in the United States. We are tax-exempt public charities
created by and for people in local areas. We enable people with
philanthropic interests to easily and effectively support the issues
they care about—immediately or through their will or estate plan.
An
attractive alternative to creating and running a private foundation,
community foundations allow you to establish and name a fund, or
contribute to existing funds that match your charitable passions.
Please see About Us for further information about community foundations.
How does a fund at the Foundation work?
We award grants from funds to nonprofit organizations in Fairfield
County and anywhere else in the United States. Grants also support the
Foundation's initiatives that address critical issues in Fairfield
County.
Some funds are permanent endowments, allowing grants to
be awarded in perpetuity from a percent of the endowment according to
the Foundation's spending policy. Other funds are meant to be spent down within a set period of time.
You
may be actively involved in your philanthropy, or leave the details to
us. We provide philanthropic advisory services, professional investment
management and handle all reporting requirements. In addition, private
foundations and individuals can contract with us for philanthropic
advisory services.
For more information regarding the spending policy, contact Mary Zwecker, Director of Finance and Administration, at 203.750.3200.
What types of gifts do you accept?
You may contribute cash, securities, mutual shares, closely held stock,
IRAs, life insurance, real estate or other tangible property.
How can I give through my estate?
Making a substantial gift to the Fairfield County Community Foundation
through your estate may be the most realistic way to make a lasting
difference in your own backyard and create a philanthropic legacy.
Some
types of planned gifts allow you to receive income for life, then
benefit charity after you've passed on. We are pleased to discuss
options with you, and recommend you talk with your professional advisor
about a bequest, charitable remainder trust, charitable lead trust, as
well as gifts from retirement plan assets and life insurance.
Your philanthropic legacy is easy to create. Contact Linda Franciscovich, Vice President of Development and Philanthropic Services, at 203.750.3200.
Can I give to organizations outside of Fairfield County?
When you establish a Donor, Family or Corporate Advised fund, you can
recommend grants to qualified charitable organizations anywhere in the
country, as long as recipients are qualified as 501(c)(3) organization
under the IRS code.
How long does it take to open a fund?
We can usually work with you to complete a founding document and open a
fund within a matter of days. If you want to establish a fund in
December and take advantage of a year-end tax deduction, please contact
us as early in the month as possible.
Please contact Linda Franciscovich, Vice President of Development and Philanthropic Services, at 203.750.3200.
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