Gift Planning

Once you have provided for your loved ones and determined your philanthropic goals, there are a number giving opportunities that can be tailored to your unique situation.

We encourage you to explore options with your lawyer or financial advisor and the staff of the Foundation to decide what type of gift works best for you.

Outright Gift

You can make a gift of cash, stocks, bonds, or marketable assets. Your charitable gift qualifies for maximum tax advantage available by law.

Bequest by Will or Trust

When you make plans for a gift to Richland County Foundation through your estate you become a member of the Legacy Society. A bequest to Richland County Foundation can be easily made through a simple designation in a will or trust to establish a fund or add to an existing fund. You may also establish a fund in your name that will go into effect after your lifetime.

Charitable Gift Annuities

A Charitable Gift Annuity allows you to make a gift to the community, while at the same time providing you with a guaranteed income stream. It is an ideal plan for those who would like to make a significant gift during their lifetime, but depend on the income from their assets. View detailed product sheet (.pdf)

Charitable Gift IRA’s or Retirement Plans

If you plan to make a charitable bequest, a retirement plan is one of the best types of assets to transfer to a charity because it produces taxable income. Most assets that an heir inherits are free from income tax. However, an heir will pay income tax on disbursements from a decedent's retirement plan such as a profit sharing plan, Section 401(k) plan or IRA. If you are going to make a charitable request, it is usually better to transfer the taxable assets subject to income tax to a tax-exempt charity — such as Richland County Foundation — and to transfer the non-taxable assets not subject to income tax to heirs.

Charitable Remainder Trust

You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to your community foundation and is placed into a charitable fund you have selected. You receive income tax benefits the year you establish your trust.

Charitable Lead Trust

You can place cash or property into a trust that pays a fixed amount to your community foundation for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes.

Life Insurance Beneficiary

Life insurance provides a simple way for you to give a significant gift to charity, with tax benefits that you can enjoy during your lifetime. By naming the Foundation as beneficiary, you retain ownership of the policy and have access to the cash value as well as the right to change the beneficiary. This type of contribution allows you to give to your favorite charity after you die, even if you don't have the liquid assets right now. While you retain ownership of the policy, there is no charitable deduction for the value of the policy when you designate the Foundation as the beneficiary or for subsequent insurance premiums. However, any proceeds payable to the Foundation at your death will not be subject to federal estate taxes. View detailed product sheet (.pdf)