What to give depends on your financial plans and how you structure your gift. The Foundation will work with you and your professional advisor to review your options and maximize your benefits.
Whether you are creating a fund or contributing to an existing fund, cash is the simplest asset to give. Your gift is tax deductible. Checks can be made payable to HFPG. Inc. or credit card donations can be made online.
If you would like to create a fund, talk to us before transferring cash. You can contribute to your existing fund, or someone else’s, at any time by sending a check or giving online.
Appreciated securities are one of the most effective assets for a charitable gift because you avoid the capital gains tax imposed if you sold the stock yourself.
Generally, you can deduct the fair market value of your stock, up to 30% of your adjusted gross income, with a five-year carryover. The actual impact on your personal taxes should be reviewed with your tax advisor.
Plan your fund with Foundation staff, and kindly alert us to look for your stock transfer.
Transferring securities to the Foundation:
Since there are well-known tax advantages in making gifts of appreciated securities – usually common stock – many larger gifts are made this way. If the securities are held by your broker or by a bank, the best procedure is to call the broker or banker, identify the securities to transfer to the Foundation, and ask the broker/banker to call the Foundation’s gift manager for transfer instructions. Please confirm the verbal instruction with a letter or fax to the broker/banker.
If you physically hold the securities, please deliver the certificates by mail or in person to the Foundation. Do not sign the stock certificate, but rather sign a stock power form with the signature guaranteed by a broker or bank officer. If you mail the certificates to the Foundation, send the signed stock power in a separate envelope. The Foundation or any bank or brokerage firm has stock power forms.
The procedure for processing a gift of mutual fund shares can be more time consuming than a gift of securities traded on an exchange. Foundation staff can assist you in completing a gift of mutual fund shares.
For more information about transferring securities, contact the philanthropic services department at 860-548-1888 or e-mail Sue Seney at email@example.com.
In many cases, you can use your owned stock in a closely-held business to create a fund at the Foundation and also benefit the company.
Our gift planning professionals can help you and your advisors explore ways to maximize your goals and minimize your tax liability. Please contact us to discuss your options.
Shares in LPs and LLCs can be smart sources of charitable gifts.
Our gift planning professionals can help you and your advisors consider the options.
The Foundation can accept gifts of real estate, such as your home, vacation home, apartment building, commercial property, or undeveloped land.
Whether you give your property now, in your estate, or retain the right to live in it, your gift of real estate can convert a major asset into a charitable benefit.
*These types of assets require careful review by the Foundation’s Gift Acceptance Committee.