The simplest gift is often cash, usually in the form of a check. Gifts of cash enable you to claim a current tax deduction of up to 60% of adjusted gross income, and contributions over that limit can be carried forward for up to five subsequent years. There is no minimum for gifts to existing funds.
Please make your check payable to The Foundation for Delaware County and note the name of the fund to which you are donating in the memo line.
Mail your check to:
The Foundation for Delaware County 200 E. State St., Suite 304 Media, PA 19063
You may be able to save on taxes when contributing appreciated securities or mutual fund shares. You receive a double benefit of an immediate charitable deduction for the full fair market value of the donated assets and an exemption to any capital gains tax on the appreciation. The fair market value of contributed securities can be deducted up to 30% of your adjusted gross income.
Make a transfer of stock using the Foundation’s DTC #0141. Please be sure to notify us if you are making a transfer by contacting Kim Grochowski at kgrochowski@delcofoundation.org or 610-744-1954 so that we are aware that the transfer is being made. There is no minimum for gifts to existing funds.
For instructions, please contact Kim Grochowski at kgrochowski@delcofoundation.org or 610-744-1954.
For a growing number of Americans, an Individual Retirement Account (IRA) may be their largest single asset — a nest egg to leave behind for their children’s future. However, you may not realize these plans are subject to a massive tax hit once they are passed on to an heir. Naming the Foundation as the beneficiary of an IRA will waive both estate and income taxes and creates a permanent legacy in your name.
A donor who is 70½ or older may gift up to $100,000 annually directly from their IRA to a qualified charity. Provided that the Internal Revenue Code eligibility requirements are met, the gift amount is excluded from the donor’s taxable income and counts toward the donor’s required minimum distribution. A QCD from an IRA may be made to any fund at the Foundation except donor-advised funds. A QCD may be made to any Foundation-held nonprofit funds, designated funds, scholarship funds, field of interest funds, and as an unrestricted gift to the Foundation. There is no minimum for gifts to existing funds.
The Foundation for Delaware County Tax ID (EIN): 22-2540853
As an owner of a closely held or family business, you may be considering a family foundation but have discovered that there are restrictions that apply to private foundations and closely held business interests.
A partnership with the Foundation is a cost-effective way to maximize your philanthropic options while minimizing your tax liability. We can help pass ownership of the company to children or key employees without straining available assets and liquidity. On the family side, we can work with you and other family members to create a family philanthropic program using the assets of your business. The suggested minimum proceeds or distributions are $200,000.
We accept limited partnership interests, such as investment or business partnerships. Individuals holding their family’s limited partnership interests may also consider contributing to this type of asset. While donations of these and other more complicated assets require care, consideration, and planning, we have the flexibility and expertise to accept them in most cases. The suggested minimum proceeds or distributions are $200,000.
Gifts of real estate may include a house, apartment building, farm, vacation home, commercial building, and income-producing and non-income-producing land. You may make an outright gift of real property now or through your estate. A gift of real estate that you have owned for more than a year entitles you to a tax deduction for the full fair market value of the property, while allowing you to avoid paying capital gains tax. Gifts of real estate typically require certain procedural steps, including a site visit to the property, a qualified appraisal, a preliminary title report, and an environmental assessment. The suggested minimum proceeds are $200,000 ($100,000 if land only).
Many people find that the protection offered by life insurance policies is no longer needed later in life and use it as a tool for charitable giving. The procedure is simple: start by irrevocably assigning your insurance policy to the Foundation and naming us as the beneficiary of the policy as well. You may make annual tax-deductible contributions to cover the policy’s annual premium. If the policy is paid up, you will receive an immediate tax deduction in an amount equal to the policy’s cash surrender value. The suggested minimum face value is $10,000.
Family foundations and other private foundations experience many transitions, especially when leadership moves from one generation to the next. If the new trustees prefer to focus on making grants and leave the administrative, investment, and regulatory functions to another entity, in many cases, it is possible to terminate the private foundation and move the assets to the Foundation. The trustees would retain their ability to direct grants to their areas of interest and Foundation staff would handle the administration of the fund.
Interested in exploring creative options for giving? Read more about legacy giving or Gift Planning.
Gift acceptance policies are available upon request.
Monika Collins Vice President of Advancement and Philanthropic Services mcollins@delcofoundation.org 610-744-1015
