What Assets to Give | Westchester Community Foundation

We accept a variety of assets, including cash, publicly traded stock, art, real estate, and closely held stock. We're happy to discuss your options with you.

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Cash: Cash gifts are deductible up to 60 percent of adjusted gross income.

Publicly Traded Securities: Gifts of appreciated securities offer important tax advantages. The full fair market value is deductible as a charitable contribution without tax on the built-up capital gains. 

Contributions from your IRA: Donors aged 70-1/2 or older may direct contributions from an IRA directly to a public charity. The “charitable IRA rollover” provision allows you to exclude the IRA distribution from income—instead of taking it into income and claiming a charitable income tax deduction—under certain circumstances. Please be aware that under current law, the rollover provision doesn’t apply to contributions to private foundations or donor advised funds. You can, however, take full advantage of the charitable IRA rollover for contributions to our competitive grant funds, including our Annual Fund, Census Equity 2020 Fund, and others.

Life Insurance: An unneeded life insurance policy can be given to charity.  You may claim a charitable tax deduction, based on the policy’s current value, if you make the Westchester Community Foundation the owner and beneficiary of the policy during your lifetime. If you don’t need the deduction, you can choose to name WCF as your beneficiary of a policy at death.

Art, Real-Estate, and Other Property: Certain property, such as works of art, jewelry, real estate, or copyrights, can be donated to WCF. Contact us to discuss these options at (212) 686-2563.

LLC or limited partnership interests, and closely-held stock: Are you selling a business and want to make a tax-smart contribution with a portion of the proceeds? We’re here to help. Call Carrie Trowbridge at (212) 686-2563.

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IRA and Similar Retirement Plan Assets: Income taxes can take a significant portion of retirement plan assets that are left to heirs. Instead, these assets can be allocated to charity, which is not subject to income tax on the assets and other assets left to heirs. This results in the greatest benefit for both your loved ones and charitable beneficiaries.