Planning now to make a gift after you are gone is a wonderful way to project your values and create positive change beyond your lifetime. Planned Giving can also be a smart financial move, with the potential to lessen the tax burden on your estate. We work closely with your estate planning, legal and financial advisors to help create charitable giving plans that support your legacy and strengthen families and communities for generations to come.

Charitable Gifts

When you open a fund with the Amador Community Foundation or wish to add to it at any time in the future, the Foundation can accept a variety of gift contributions through outright donations and estate planning methods.

Cash and Non-Appreciating Property

Charitable gifts of cash and non-appreciating property qualify for federal income tax deductions at the cost in the year the gift is made.  The gift is deductible up to 50% of adjusted gross income, and any excess deductions can be carried over for up to 5 years if necessary.  The higher the donor’s tax rate, the greater the savings. The Amador Community Foundation will also consider gifts of personal property, such as artwork and jewelry.

Appreciated Securities and Real Estate

Amador Community Foundation can accept a gift of a house or other personal residence, farm, commercial building or other unimproved property. A gift of real estate that you have owned for more than one year entitles you to the same Federal tax advantages as those for gifts of securities (a tax deduction for the fair market value of the property) while allowing you to avoid paying capital gains tax.

With appreciated property sold in a Bargain Sale, the donor sells appreciated property at a lower price than the fair market value to a charity, with the charity realizing the difference as a gift. Each part of a bargain sale is reported separately.  The donor reports capital gains on the sale portion and receives a tax deduction for the gift portion. The basis is allocated between the gift and the sale portion.

Long-term stocks, bonds, and real estate that have increased in value may be very appropriate for charitable gifts.  The donor is eligible for a charitable deduction equal to the fair market value of the property in the year the gift is made, and all capital gains tax is avoided.  This type of gift is deductible up to 30% of the donor’s adjusted gross income, and any excess deductions can be carried over for up to 5 years if necessary.

Ordinary Income and Short-Term Capital Gains Property

Such gifts qualify for federal income tax deductions at cost in the year the gift is made. They are deductible up to 50% of the donor’s adjusted gross income, and any excess contributions can be carried over for up to 5 years if necessary.

Retirement Plan Assets

Retirement plans payable to anyone other than your spouse may be subject to estate taxes at death, followed by income taxes as funds are withdrawn to pay estate taxes.  Naming the Amador Community Foundation as the beneficiary or as the alternate beneficiary can avoid this double taxation.

For a gift through your estate, retirement plan assets are often the best way to give because they are so heavily taxed if left to heirs. Income and estate taxes can easily consume over 65% of the account balance at death. By naming the Amador Community Foundation as the remainder beneficiary of these assets, you can maximize your gifts and minimize estate taxes.

Life Insurance Beneficiary Designation

Making a gift of an unneeded insurance policy can be a convenient and effective way of meeting your charitable goals. When you transfer ownership of a cash value policy to the Amador Community Foundation, you become eligible for a charitable tax deduction based on its current value. Changing the beneficiary of your life insurance can also be a part of your estate planning.

If you no longer need as much life insurance as you did when you were younger, you can donate the policies to the Foundation and establish a Fund in your name by simply naming the Amador Community Foundation as the owner and irrevocable beneficiary of the policies.  If the policies are fully paid up, you can take a tax deduction for either the replacement value or your cost, whichever is less.  If the policies are not paid up and you continue paying the premiums, the payments are deductible as charitable contributions.  In either case, you get an immediate tax deduction and you may save estate taxes later.

Simply put, the Amador Community Foundation improves the quality of life for the citizens of Amador County today and for generations to come. 

We connect local generosity with local needs.

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