Gifts of Complex Assets
Cash, stock, bequests, and IRA gifts are not the only ways to support the campaign for northern Chautauqua.
You can work with the NCCF team and your advisors to make a tax-deductible gift of a variety of assets.
Real Estate
Real estate, such as farmland or commercial property, can be used to support the campaign in a variety of ways. An outright gift is always an option; lifetime gifts of real estate held for more than one year are deductible for income tax purposes at 100% of the fair market value of the property on the date of the gift, which also avoids capital gains tax and reduces the value of your taxable estate if estate tax will be an issue. Other ways to give real estate include a bargain sale or a transfer to a charitable remainder trust, which produces lifetime income for you and your family.
Closely-Held Business Interests
If you own a business, the NCCF team is happy to work with you and your advisors to explore how you might give shares in the business to support the campaign as a part of an overall estate plan. Not only will transfers be eligible for a charitable deduction during the year of transfer (and at fair market value if the shares are held for more than one year), but these gifts could potentially reduce income tax burdens triggered upon a future sale of the business.
Be sure to talk with our team and your advisors well before any potential sale is in the works; otherwise, you could lose out on tax benefits. Gifts of closely held business interests are powerful but can be tricky to administer.
Other “Alternative” Assets
The community foundation is happy to work with you and your advisors to explore options for giving other non-cash assets to the campaign for northern Chautauqua, including:
- Oil and gas interests
- Negotiable instruments
- Cryptocurrency
- Artwork
- Collectibles
We look forward to working with you to explore all the options!
Pledge Your Support
Throughout the campaign, NCCF is accepting pledges of support with flexible payment terms available. Your pledge can include a cash gift or other type of current gift, a future planned gift, or both. You may download and return the pledge form, and we will be in touch, or contact us for more information:
Diane Hannum, Executive Director dhannum@nccfoundation.org
Leslie Wille, Community Engagement Coordinator
lwille@nccfoundation.org
716-366-4892