Charitable Giving
Consider charitable giving so you can leave a lasting impression on generations to come.
6 Ways to Have a Lasting Impact
Charitable Remainder Trust
A charitable remainder trust is a tax-exempt irrevocable trust designed to reduce the taxable income of individuals by first dispersing income to the beneficiaries of the trust for a specified period of time and then donating the remainder of the trust to the Flagler County Education Foundation.
Life Insurance
The payout from a life insurance policy (called a death benefit) can be a legacy that far outlasts your time on Earth. And it’s not only for people who want to leave a legacy to their spouse and children. A life insurance policy can change many different people’s lives, or even entire communities after you’re gone.
Qualified Charitable Distribution
A qualified charitable distribution (QCD) is a distribution from an IRA made directly to an eligible charity, bypassing the owner of the account. Owners of individual retirement accounts who are at least age 70 1/2 can contribute some or all of their IRAs to the Flagler County Education Foundation.
Charitable Gift Annuities
Charitable gift annuities are not related to annuities offered by insurance companies. Under this arrangement, the donor gives money, securities, or real estate, and in return, the charitable organization agrees to pay the donor a fixed income. Upon the death of the donor, the assets pass to the charitable organization. Charitable gift annuities enable donors to receive consistent income and potentially manage taxes.
Charitable Lead Trust
A charitable lead trust is an irrevocable trust designed to provide financial support to one or more charities for a period of time, with the remaining assets eventually going to family members or other beneficiaries. Charitable lead trusts are often considered to be the inverse of a charitable remainder trust.
Real Estate
A direct gift is the simplest method of donating real estate. The deed or title is transferred from the donor to the charity. As the donor, you generally receive a tax deduction equal to the fair market value of the property and that deduction may be carried forward for five years.
If you would like to request more information or talk about leaving a charitable giving gift, please fill out the form below.
