Making a gift to the Civic Foundation is quite simple: 

1. For donors who wish to give to an existing fund, simply make your check payable to the Mercer County Civic Foundation, and put the fund name on the memo line.
2. For donors who are establishing a new fund, only a few questions need to be addressed:
          * What charity do you wish to support or what need do you wish to fulfill?
          * What kind of assets do you wish to contribute? (See the following list of Asset              Types, below)
          * What kind of fund do you want to establish? (Scholarship, donor-advised, etc.)

Typically, the donor(s) meet with the Executive Director to complete a Fund Agreement.  Each of our funds are individually tailored to meet the desires of the donor and the needs of the Mercer County community.  Please call or e-mail the Civic Foundation office to receive our complimentary Donor Folder and Annual Report, which will answer many questions you may have about the Civic Foundation.

Asset Types

Cash gifts, usually in the form of a check, come from both living donors and charitable bequests in Wills.  Cash gifts enable the donor to claim a current income tax deduction of up to 50% of their AGI in the year of the gift, with a 5-year carry forward period.  Actual savings from gifts of cash depend on the donor’s tax bracket. 

Real estate gifts may include a house, personal residence, farm, commercial building, or land.  If held for more than one year, gifts of real estate are deductible for up to 30% of the donor’s AGI in the year of the gift, with a 5-year carry-forward period, if needed.  For real estate held less than one year, the charitable deduction is limited to the property’s cost basis.

Any gift of real estate is subject to the following requirements, at the donor’s expense:

1. a site visit
2. an environmental assessment
3. a qualified appraisal
4. a copy of the latest tax assessment
5. property mortgage search
6. approval of the Foundation’s Executive Committee

Publicly traded securities.  Donors who contribute long-term appreciated securities receive an even greater federal tax benefit.  Gifts of appreciated securities are deductible at their full market value if held longer than 12 months, and the capital gains tax on the stock’s appreciation is completely avoided.  The Fair Market Value (FMV) of the donated securities can be deducted up to 30% of the donor’s AGI, with a 5-year carry forward period.  FMV is defined as the average of the high and low trades on the date of the gift. 

Life insurance policies are tremendous ways to make charitable contributions, because you can make a substantial gift to the Foundation at minimal cost.  Many donors have old policies that they no longer need. By naming the Civic Foundation owner and beneficiary of new or existing policies, a donor can make a major gift.  The donor is entitled to a federal income tax deduction for the cash surrender value in the year that the gift is made.  Among other benefits of donating life insurance policies:

1. Almost anyone, regardless of economic level, can make a significant gift at a relatively low cost.
2. The gift is free from federal estate/state death taxes, state/federal income taxes or any other fees or charges.
3. Premium payments made by the donor are tax deductible.
4. There is no cost or delay in probate
5. The death benefit is guaranteed – there is no fluctuation in value, as with stock or real estate gifts.
6. Any size or type of insurance policy can be used (term, ordinary, variable, etc.).
7. Complete anonymity can be assured, given the nature of insurance policy contracts.  Conversely, public recognition of a large gift can be arranged, if so desired by the donor.

As always, we strongly recommend that donors consult their financial/legal professionals with regard to large or unusual gifts.