Cash
You can make your check payable to the Community Foundation of East Central Illinois and designate its purpose. If no purpose is designated the Foundation will record it as an unrestricted gift and the Board of Trustees will determine the use of income derived from it. You can also make your donation online through Network for Good. To make a donation online, click on “Donate to CFECI” at the top of the screen.
Appreciated Securities
You can make gifts of appreciated securities. In most cases, this will relieve you of capital gains taxes. As always, confirm with your financial advisers.
Real Estate
You can donate real estate or other property that will receive the same tax treatment as gifts of appreciated securities: no capital gains tax plus deductibility at fair market value.
Deferred Giving Life Insurance
You can name the Community Foundation of East Central Illinois as beneficiary. Upon your death, the proceeds will establish a charitable fund in your name.
Charitable Remainder Trust
You reserve a life interest for yourself or someone else and, upon your death, the Community Foundation receives the principal. Setting up a unitrust will allow you to receive an annual payout of a percentage of the total value of the trust, while an annuity trust allows you to receive a fixed payout regardless of the fluctuation in value. You can also donate interest in your home or other property and maintain possession during your lifetime while receiving an immediate income tax deduction. Upon your death, CFECI would sell the property and use the money to establish a charitable fund in your name.
Charitable Lead Trust
Community Foundation of East Central Illinois receives annual income for a designated number of years. At the end of the time, the principal is paid to named beneficiaries. A lead trust allows you an immediate charitable gift with transfers to beneficiaries at reduced gift and estate tax. H.I. Gelvin established a lead trust that provided a percentage of the income to the Community Foundation for a period of twelve years after his death. CFECI reinvested this income in an endowment named the H.I. & Mabry Gelvin Fund. The fund grew to over $125,000 and the earnings are now being used for our grant program. Community Foundation of East Central Illinois advises you to consult your attorney and financial advisors when deciding to make a planned gift.