If you want to build charitable giving into your estate plan, the North Carolina Community Foundation can help you realize your goals, achieve tax advantages and leave a growing legacy for generations to come. This is philanthropy that is amazingly accessible and will have a major, lasting impact on your community. Legacy gifts support much of the charitable work in the communities we partner with throughout our state.

The NCCF offers many options for planned gifts. Some of these vehicles allow you to make charitable contributions while preserving economic security for yourself and your loved ones. Planned gifts also can provide you with important tax savings and other benefits while allowing you to leave a permanent, growing legacy. Giving options vary, depending on whether you want to give now or in the future. These can include:

Bequest: Naming the NCCF in your will or trust is a popular way to support the community and your charitable interests. A charitable bequest to create an endowment or add to an existing fund can designate a specific amount, a percentage of your estate or what remains after other bequests are fulfilled. Benefits can include significant estate tax savings. They are easy and revocable if circumstances change. Read more

Charitable remainder trust (CRT): Allows you or your designee/s to receive an income for the life of the trust, with the remainder passing to the NCCF to support a cause or fund/s that you’ve identified. Benefits can include capital gains avoidance, reduced income taxes and provisions for your spouse or heirs. The NCCF doesn’t act in a trustee capacity, but we do work with donors and their chosen trustees. Read more

Charitable lead trust (CLT): The donor creates a trust to provide the NCCF with income for a specified period, with the remainder distributed to heirs or any third party. Assets expected to increase in value are commonly assigned to a CLT. This strategy benefits those who want to leave an inheritance for children or grandchildren while minimizing gift and estate taxes. The NCCF doesn’t act in a trustee capacity, but we do work with donors and their chosen trustees. Read more

Retained life estate: You can deed real estate to charity, save taxes now with a current deduction and enjoy the property for the rest of your life. The NCCF can help transform your property’s value into a legacy to benefit your community and meet charitable intents, while allowing you to realize financial and tax benefits. Proceeds from the eventual sale of the real estate will help leave your legacy and carry out your charitable intentions.

Life insurance: If your need for life insurance has decreased, transforming the policy into a gift can help you meet philanthropic goals and realize income tax savings, estate tax advantages and extend your charitable reach with a low annual cost. Transferring ownership of a cash value policy to the NCCF may allow you to receive a tax deduction based on its current value.

Retirement plans: If you find that the assets you’ve set aside for your retirement in an IRA or other qualified plan exceed your needs, you may elect to name the NCCF as the beneficiary. Retirement assets can be the ideal way to meet philanthropic goals because they’re heavily taxed if left to heirs, but tax-free if designated for charity.

For more information: Contact Beth Boney Jenkins, NCCF’s Vice President for Development, at 919-828-4387. Professional advisors may contact Mary Morgan, NCCF’s Philanthropy Counsel, at 919-828-4387.

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