The Nebraska Community Foundation works with community, organizational and donor-advised affiliated funds serving 255 communities located in 78 counties. NCF and its affiliated funds have reinvested $243.2 million in Nebraska since 1994.
A few years ago Bryan learned about the tax advantages of making a charitable gift of grain. “As a self-employed, sole proprietor, giving bushels of grain makes the best sense because I can deduct all of my production costs, and I don’t have that profit to claim. Tax-wise it’s way more beneficial than making a gift of cash,” Bryan said.
Chad and Tara’s gift of grain will help build Norfolk’s endowment. They believe that an everlasting pool of money, creating ways to reinvest year after year, is a great idea.
Hebron’s native son, the late Glenn H. Korff, believed in the future of his hometown and the soundness of its Nebraska values. After earning his MBA and serving in the US Army Reserve for six years, Glenn worked for Goldman Sachs international investment bankers in New York from 1974 to 1992. Before his death in August 2013, he created a $1 million bequest to establish the Kenneth and Glenn Korff Endowment within the Hebron Community Foundation Fund.
Late in 2013, following the death of an anonymous donor who had lived in the area for many years, the Byron Community Foundation Fund received an unrestricted gift from the sale of a quarter section of land located in Kansas. This enabled the Fund to begin building its new community center much sooner than anticipated.
|Charitable Gift Annuity||A Charitable Gift Annuity, allows the donor to make a gift and receive fixed income payments for life and/or for the lifetime of a surviving beneficiary. More information.|
|Charitable IRA Rollover||The Charitable IRA Rollover law allows those age 70½ and older to transfer up to $100,000 from an IRA to charity – tax-free. More information.|
|Charitable Remainder Trusts||A Charitable Remainder Trust is a legal instrument into which a donor transfers irrevocably the ownership of assets such as securities or real estate. In return, the donor receives an immediate charitable income tax deduction and the right to receive an income. When the trust ends, the property remaining in the trust passes to the Nebraska Community Foundation to be used according to the donor’s directions. More information.|
|Donor-Advised Funds||A donor-advised fund can be established and funded either currently or with a testamentary gift. The donor or the fund advisors recommend grant disbursements to eligible charitable organizations within Nebraska Community Foundation guidelines. This type of fund also qualifies for the highest charitable income and estate tax deductions allowed by law, while bypassing capital gains tax on gifts of appreciated assets to the fund. More Information.|
|Endowment Building||A Permanent Endowment Fund is held in perpetuity and invested in a manner that protects the principal while the investment income provides ongoing support for donor-designated projects and expenses approved by the Fund Advisory Committee. Many donors choose to give to unrestricted endowments of the affiliated funds they wish to support.|
|Gift of Ag Commodities||Fluctuating prices have created opportunities for making tax-advantaged gifts of grain or livestock.|
|Gifts of Life Insurance||Many Nebraskans have found that a gift of life insurance is an easy and convenient way to make a gift to support their hometown. There are three ways to make a gift to your hometown using life insurance: with an existing policy, by beneficiary designation and with a new policy. More Information.|
|Gifts of Real Estate||A gift of real estate offers several special tax incentives and other benefits. More Information.|
|Gifts of Retirement Plan Assets||Many Nebraskans have taken advantage of generous tax incentives provided by tax law to save for their retirement years. Known as “qualified” retirement plans, these plans, Individual Retirement Accounts (IRAs), 401(k), Keogh and others, feature income tax benefits when contributions are made to the plan. Plus, the money in the plan accumulates tax-free until it is withdrawn for retirement. More Information.|
|Gifts of Securities||Tax laws offer a triple tax benefit for gifts of securities (stock, bonds and mutual funds) that have increased in value since purchase or acquisition. Donors can receive several tax benefits: charitable income tax deduction, avoidance of capital gains taxes, and reduction of potential estate taxes. More Information.|
|Gifts of Tangible Personal Property||Tangible personal property is broadly defined in the tax code as any property, other than land or buildings that can be seen or touched. More information.|
|Scholarships||Scholarships, especially non-traditional scholarships, are a technique many donors have used to help strengthen the workforce for their hometown.|
|Wills and Bequests||A bequest, a gift in your will, is an opportunity to make a difference in the quality of life in your hometown and continue the support you have provided during your lifetime. More Information.|