Our family of dedicated, generous, and forward thinking donors is making a difference in our community every day. When and how you give is up to you. You can make a gift today, include the Foundation in your estate planning, or both. No matter what giving option you select, The Youngstown Foundation will help you maximize your tax benefit while you create a legacy that impacts generations to come.
We serve you by...
- Knowing our donors – their interests, passions, and goals.
- Knowing our community – its needs, assets, and opportunities.
- Matching donor interests and community needs.
- Encouraging giving in our community.
- Managing funds with great care.
Charitable Giving Options
There are many powerful ways to give through The Youngstown Foundation. Our professional staff will work with you, your family, and financial advisors to identify which options are best for you:
Gifts of cash are the simplest and most convenient gift. You can claim a tax deduction of up to 50 percent of adjusted gross income, and contributions over that limit can be carried forward for up to five subsequent years.
A bequest in your will, naming The Youngstown Foundation as a beneficiary, is an ideal way to create a fund. Estate taxes may be significantly reduced, and the fund will continue to work as a lasting legacy of your interests.
Life Insurance Policy
If the protection of a life insurance policy is no longer needed, it may prove a practical, tax-deductible gift. Or, you may retain ownership of a policy naming the Foundation as a beneficiary. Some people find they can make a much larger gift by purchasing a life insurance policy and naming The Youngstown Foundation as owner and beneficiary; and, as the donor, you can deduct insurance premiums. When the policy is redeemed, a permanent fund is created to support the donor’s charitable goals.
Retirement Fund Accounts
You can name the Foundation as the beneficiary of an IRA or qualified retirement plan. At death, retirement or IRA balances are included when calculating estate and income taxes to your beneficiaries—often up to 85%. Funding a charitable bequest to The Youngstown Foundation with an IRA or retirement plan prevents the bequest from becoming a liability of your estate, and the gift is made with pre-tax dollars. A gift of retirement plan assets can even be used to establish a charitable remainder trust to provide income to a spouse or family members.
When you donate appreciated publicly traded securities, you pay no capital gains, and receive the maximum allowable tax deduction under the law, for the full market value of appreciated securities given to the Foundation.
Closely Held Stock
As an owner of a closely held stock or family business, you may be considering a family foundation, but have discovered that there are restrictions that apply to private foundations and closely held business interests. A partnership with the Foundation is a cost-effective way to maximize your philanthropic options while minimizing your tax liability.
Real Estate or Personal Property
A gift of real estate you have owned for more than one year yields a tax deduction for the full fair market value of the property while allowing you to avoid paying capital gains tax. The Foundation's ability to accept real estate gifts depends upon a number of factors, including current market conditions and the value and condition of the property. The same is true for gifts of valuable items like jewelry, antiques, or art can also create charitable legacies.
Charitable Remainder Trust
A Charitable Remainder Trust allows you or the named beneficiaries to receive a lifetime income, receive an immediate charitable deduction, and avoid capital gains tax. Upon death, the remaining principal becomes a fund of The Youngstown Foundation.
Charitable Lead Trust
A Charitable Lead Trust creates income for The Youngstown Foundation for a specified period, after which the remaining principal is distributed to the named beneficiaries, reducing gift and estate taxes.
Charitable Gift Annuities
Charitable Gift Annuities allow you to transfer assets to The Youngstown Foundation, which then agrees to pay the donor a specified amount during the donor’s lifetime. At death, remaining principal goes to the Foundation.
Transfer Private Foundation Assets
The expense, time, and challenges of administering a private foundation can become an unwanted burden. Transferring the assets of a private foundation to a donor advised fund at The Youngstown Foundation provides significant tax and administrative benefits.