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How to Give
There are many ways in which you can make a donation to the O'Neill Community Foundation Fund. In all cases, because of the 501 (c) (3) status of the Foundation you will receive tax advantages as a result.
Giving appreciated stocks or bonds is a great way to support our efforts. With certain limitations, you can deduct the full, fair market value of long term appreciated securities. This meaning, you can give away assets with capital gains and avoid the tax.
Appreciated Real Estate
Almost any type of real property such as a personal residence, farm ground, commercial building or undeveloped land, can constitute a gift. Gifts of property are long-term. You will generally avoid any tax on the capital gain, reduce your taxable estate by the value of the gift, and receive a charitable contribution for 100% of the fair market value of the property.
Grain or Livestock
With a gift of grain and/or livestock, you could make a significant contribution to the future of the O'Neill Community Foundation Fund. For instance, when gifting grain, the gift is put into the Foundation's name at the time of delivery so you pay no tax on the sale of the grain.
Depreciated Farm Machinery
With a gift of depreciated farm machinery, farmers can avoid paying income taxes on ordinary income from the restored appreciation. Also, if the machinery has a remaining cost basis, the donor can generally receive a charitable deduction for that amount.
Charitable Gift Annuity
A charitable gift annuity is a common method of providing a guaranteed fixed income for the rest of your life. It also has tax savings. The annuity is a contract between you and the O’Neill Foundation for mutual benefit. In exchange for cash, securities, real estate or other marketable properties, the Foundation signs a contractual obligation to pay a specified lifetime income to one or more persons. Payments can be deferred until a donor annuitant is in a lower income tax bracket.
You may give a sizeable gift for the Foundation through a life insurance program especially designed to create an endowment for the long-term use by the foundation. The foundation becomes the owner, beneficiary and payer of the premium from gift money given by you and designated for purchase of insurance.
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