Build an impact during your lifetime
Once you have provided for your loved ones and determined your philanthropic goals, a number of giving opportunities are available for your unique situation. You can make charitable gifts to the Richland County Foundation to expand your impact during your lifetime.
You can make a gift of cash, stocks, bonds, marketable assets, or a transfer from your IRA. Your charitable gift qualifies for the maximum tax advantage available by law.
We have an online donation option.
If you would like to make a gift of stocks, bonds, marketable assets, or from your IRA, please email Director of Finance Rachel Weber or call 419-525-3020
Gifts from an IRA
Individuals aged 70 ½ and older can transfer up to $105,000 annually from a traditional Individual Retirement Account (IRA) to a charity without being federally taxed. That means if you have a spouse, you could transfer up to $210,000.
Qualified charitable distributions must be made by the year's end if the donor wants it to satisfy their required minimum distribution.
This law is important to local charities operating as agents of philanthropy to continue to build community and improve social service programs that benefit people every day.
A provision in federal law allows for transferring IRA assets directly to charity otherwise known as a qualified charitable distribution. By going directly to a qualified public charity such as the Richland County Foundation, the money is not included in the IRA owner’s income and—most importantly—is not taxed, preserving the full amount for charitable purposes.
The Richland County Foundation can help donors execute the transfers and choose from several charitable fund options for their gifts. IRA transfer gifts of any amount can be made to an existing fund at the Foundation or for the establishment of a new fund.
If you would like to establish a new fund, the types of funds that qualify for the tax-free IRA transfers include:
Field of Interest Fund
*(Donor Advised Funds do not qualify for tax-free IRA transfers)
The minimum amount to set up most funds is $10,000, except for a scholarship fund that has a minimum of $20,000.
This really is a powerful opportunity for anyone interested in establishing a permanent legacy in this community, this is a chance of a lifetime to make the gift of a lifetime.
If you would like to make a transfer from your IRA, please email Director of Finance Rachel Weber or call 419-525-3020.
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.
Charitable Remainder Trust
You can place cash or property in a trust that pays an 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.