- On November 28, 2016
Immediate, Cash Options
First Community Foundation values gifts for many reasons and of all sizes. They should fulfill your desire to make a difference in peoples’ lives here, throughout the nation, and around the globe. These gifts may also be given in memory or honor of someone or to particular funds. However you chose to give, we are reminded that God provides abundantly so that we may share abundantly in a cheerful way (2 Corinthians 9: 6-15).
Cash gifts are the easiest method for gifting. You may designate your gift for a specific purpose, program or mission. You may be able to take a tax deduction the year in which you make your contribution(s).
- Mail your gift by check to:
First Community Foundation
1320 Cambridge Blvd
Columbus OH 43212
You may stipulate your gift intention in the memo of the check.
- Use the DONATE tab. This option allows you to use a credit card to make your gift.
(HYPERLINK to Existing Funds List)
First Community Foundation welcomes your family’s involvement in a planned gift that will benefit the ministry of First Community Church far into the future. The Foundation staff and members of its board will work with you and your financial advisor to determine the best type of gift to meet your interests and goals.
First, you may want to consider giving to an existing First Community Foundation fund. There are dozens of these, which support specific missions or programs at First Community Church. Others help fund maintenance, operations, and critical needs of the Church. You’re welcome to review a list of the categories of these existing funds and consider contributing to one or more of them.
(HYPERLINK to list of existing Foundation fund categories)
If you are planning larger, long-term gifts that involve all or parts of your estate, the Foundation staff is willing to work with your family and advisors on considering some of the following planned giving options:
Bequest through your will
First Community Foundation may be named as beneficiary through designating a dollar amount, a percentage of your estate, or a specific item or property approved by the Foundation.
Gifts of stock or securities
Stock that has increased or appreciated in value over more than a year is a popular method for charitable giving. You might be able to avoid capital gains taxes and be eligible for a tax deduction for the full market value of the asset.
Retirement plan assets
Retirement plan or pension assets may be subject to taxation levels that minimize their benefit to heirs if tax-wise planning is not arranged. By naming First Community Foundation as a beneficiary of your retirement savings plan, no income tax is due on your retirement plan savings and your estate receives a tax deduction for the gift’s value.
Charitable Remainder Trusts (annuities and uni-trusts)
There are many different kinds of trusts. These two charitable forms are appealing because the donor, who may also be the trustee, funds these trusts with income-producing assets, and receives an income, either fixed or variable for life. The remainder asset in the trust at the death of the donor goes to First Community Foundation.
Charitable Lead Trusts
With this type of gift instrument, assets (generally cash or marketable securities) are transferred to a trust from which the income is directed to a First Community Foundation fund for a specified number of years. At the end of that time, the trust terminates and the assets revert to the donor or a designated person. This trust helps lower estate and gift taxes that would otherwise be due on the value of the assets. It can be an excellent inheritance vehicle for grandchildren.
Charitable Gift Annuities
In exchange for an irrevocable transfer of cash or marketable securities, First Community Foundation pays the donor(s) a fixed amount of income for life. The donor also may get a tax deduction in the year of the gift, and a portion of the annual payment may be not taxed. Upon the donor’s death, First Community Foundation receives the remaining principal.
Donor-advised fund (DAF)
A DAF at First Community Foundation provides donors unusual flexibility and hands-on involvement in suggesting grants to FCC programs and missions. Other qualified charities may also receive distributions from the fund. The donor may take a tax deduction in the year the gift is made.
These gifts may be made either by designating First Community Foundation as primary beneficiary or gifting during your lifetime by making the Foundation the owner and beneficiary of the policy.
For further information, please feel free to make an appointment to talk to Cindy Sue Gepfert to discuss these options further.