Many last names. One family.
Ways to give to CFTT
Individuals, families, nonprofits, businesses. Everybody can give. Want to make a difference in your community, but not sure how? It’s easy. Make an impact today by giving today. You can choose to support our mission, support an existing fund, or create a new fund.
Many donors establish and contribute to personal donor-advised funds and then make recommendations for grant distributions to nonprofits over time. Donors also contribute through giving circles, trusts, endowments, and scholarships.
Give Now
Give Later
Let’s Work Together
Give Now
Cash
An easy and convenient way for you to support worthy causes in the community. Gifts of cash enable you as a donor to claim a current tax deduction of up to 50% of your adjusted gross income in any one year when you itemize deductions, with the excess—if any—carried forward for an additional five years. Actual savings from gifts of cash depend on your tax bracket—the higher the tax bracket, the higher the deduction.
Securities
Gifts of appreciated securities offer important tax advantages, since their full fair market value is deductible as a charitable contribution up to 30% of your adjusted gross income each year when you itemize deductions. Like gifts of cash, deduction amounts that exceed the limit can be carried forward for up to five additional years. You do not have to pay federal or state capital gains taxes on the appreciated portion of the gift. After the Foundation liquidates the securities, the full value of the gift is available to support your charitable goals.
Real Estate
Community Foundation for the Twin Tiers can accept a gift of a house or other personal residence, farm, commercial buildings, and income producing or non-income producing land. A gift of real estate that you have owned for more than a year entitles you to the same federal tax advantages as those for gifts of securities – a tax deduction for the fair market value of the property while allowing you to avoid paying capital gains tax. The Foundation can accept most unencumbered real estate property gifts.
Personal Property
Community Foundation for the Twin Tiers will consider gifts of personal property, such as artwork and jewelry. This type of gift must be discussed individually and in advance with the Foundation.
Commodities
Community Foundation for the Twin Tiers will accept farm commodities as charitable gifts. It is important that you arrange this gift with the Foundation to be eligible for tax benefits.
Give Later
Bequests
May enable you to reduce estate taxes while supporting your community.
Charitable Gift Annuities
Allow you to make a gift now that will provide a tax deduction and income for life. The remaining funds of the charitable gift annuity will be used to support your charitable interests.
IRA Rollover or Qualified Charitable Distribution
A Charitable IRA Rollover allows donors to direct up to $100,000 from their traditional IRA to charity tax-free. This option is open to donors age 70½ and older who have a traditional IRA, and it counts toward your Required Minimum Distribution, the amount a person over that age must withdraw each year. Traditional IRA funds are not subject to income tax when given directly to charity.
This strategy may be right for you if:
• You are 70½ or older.
• You want to make a qualified charitable gift from your traditional IRA to reduce the value of future distributions you will be required to take.
• You wish to make an impactful gift to benefit the community.
• You already contribute to charity at your deduction limit and want to donate more.
• You wish to remove up to $100,000 from your taxable estate.
A Charitable IRA Rollover may not be directed to a donor-advised fund. However, there are several ways to give through the Community Foundation, including giving to a scholarship fund, designated fund, field of interest fund, impact area or as a direct gift to the Community Foundation to support its leadership activities in Bradford, Potter, Sullivan, Tioga counties, Pennsylvania and Tioga County, New York.
While many people consider this option when they are thinking about year-end tax planning, the donation can be made at any time during the year.
Charitable Remainder Trust
Allow you to receive income (or provide income for another person), with the knowledge that the funds remaining when the trust terminates will be used to support your charitable interests.
Charitable Lead Trusts
Enable you to make significant charitable gifts in the near term while transferring substantial assets to beneficiaries, who may benefit from significantly lowered gift and estate taxes.
Retained Life Estates
Ensure that you or another person have lifetime security in a home that you have given to the Foundation as a charitable contribution.
Life Insurance
Can be used as a charitable asset, thereby enabling you to be eligible for a charitable tax deduction based on the current value of the paid-up policy.
Retirement Fund Plans
Can be used to support your charitable interests while achieving significant tax advantages for your heirs.
Let’s Work Together
We’ll be happy to work with your financial advisor and your attorney to make sure we have a plan that works best for you. We can perform the due diligence needed to ensure that you can achieve your philanthropic goals. Come talk to us about what your passions are. We can help you find a way to support them.
Contact Us!