Planning for the future -
for you and your community
Charitable Remainder Trust
Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life, knowing that whatever remains will benefit your community.
How it works
- You transfer cash, appreciated stocks, real estate, or other assets into a trust.
- You receive an immediate charitable tax deduction for the charitable portion of your trust.
- The trust pays you or a beneficiary you designate regular income payments.
- Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust transfer to the community foundation.
- We set up a fund in your name, in the name of your family or business, or in honor of any person or organization you choose.
- We handle all the administrative details after the fund is established, issuing grant awards to charities in the name of the fund.
- Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
A gift that pays
James Assad was retired and in his late seventies. The stocks he owned had high market values, but they paid limited dividends. In addition to increasing his personal income, James was interested in giving to the community in which he had lived his entire life, so he decided to transfer the securities to a Charitable Remainder Trust that eventually would create a fund with his local community foundation. “The income I receive from the trust is more than what I was collecting in annual dividends — by thousands of dollars. If I would have sold the stocks, I’d have paid a fortune in capital gains tax,” says James. James also receives an immediate charitable deduction and pays less tax on the trust distributions. “Plus,” he says, “I know that when I pass, I’ve done something good.” In time, James’ gift will create the Assad Family Unrestricted Fund to address ever-changing community needs.
