What to Give

There are many ways to give to the community foundation besides cash. While cash is the simplest way to give to your favorite charity, there may be some tax benefits to giving other types of assets. Browse the different ways to give below.

Certain gifts may require review or approval by the Foundation as outlined in our Gift and Fund Acceptance Policy.

Real Estate Gifts of real estate, such as a house, commercial building, or farm land, can make a great gift to the community foundation. If you have owned the real estate for more than a year, you will receive a tax deduction for the fair market value of the property and will avoid paying capital gains taxes. Each gift of real estate is unique and will be reviewed on a case by case basis.

Generally, it is the Foundation’s policy to accept gifts of real estate only if they are to be sold with the proceeds used for a charitable purpose agreed upon by the donor and the Foundation.

Life Insurance Making a gift through a life insurance policy is an inexpensive and easy way to make a substantial contribution to the Community Foundation. Many people find that in later years, they don’t need all the insurance they did when they were younger. You can make a gift to the community foundation for your policy amount by naming the foundation as the owner and irrevocable beneficiary of your life insurance— you can either give a paid-up policy or continue to pay the premiums.

You receive a tax deduction for the approximate cost or fair market value, whichever is less. If the policy is paid up, you receive an immediate tax deduction. If it is not, you can claim continuing tax deductions on premium payments you make directly or through gifts to the Community Foundation.

Stocks, Bonds & Mutual Funds A gift of appreciated property in the form of stocks, bonds or mutual funds is a great way to support your favorite charity and receive greater tax benefits than a cash gift of equal value. You will receive a charitable deduction for the full market value of your property and also avoid capital gains tax. Potential estate taxes could also be reduced.

Closely Held Stock Closely held stock is a special way that business owners can give back to their communities. By transferring shares of your corporation to the community foundation, you will receive an immediate personal charitable income tax deduction while also avoiding the capital gains tax on the appreciated stock.

Tangible Personal Property Tangible personal property is defined as any property, other than land or buildings, that can be seen or touched. Examples include artwork, jewelry and gems, collectibles, boats, cars, tractors and aircraft, timber or business inventory and equipment. This is a great way to turn something meaningful to you into something meaningful for the community.

Grain & Livestock The gift of grain or livestock can have a significant tax savings for farmers and ranchers. When an agricultural producer transfers the legal ownership of grain or livestock to the community foundation before the commodity is sold or auctioned, the producer will not realize taxable income from the sale, minimizing taxes. The producer is still able to deduct the entire expense to produce the commodity.

401K and IRA Accounts Individual Retirement Accounts (IRAs) or other qualified retirement plans are often one of the best types of assets to leave to charity because they are taxed so heavily when left to heirs. When you leave a gift to the community foundation with your retirement plan assets, 100% of the gift will be available to support your charitable interests.

Recent News

Greater Salina Community Foundation awards $41,000 in community grants

SALINA, Kan.— The Greater Salina Community Foundation recently awarded over $41,000 to 11 charitable projects and organizations in Saline County. The following organizations received funding: Domestic Violence Association of Central Kansas, $5,000 to purchase playground equipment for children who access DVACK services at the organization’s new facility.Heartland Early Education, $5,000 for food to send home with children, birth to age five, with food insecurities.  Salina Innovation Foundation, $4,929 to update The Temple’s wheelchair lift and ensure accessibility for the whole community.Salina Rescue Mission, $4,726.49 to replace the salad bar and add air curtains to the food preparation area.Big Brothers Big Sisters of Salina, $4,200 to host a weekly study hall for “littles.”Salina Media Connection, $4,000[...]

Community foundation sponsors SAYP's Party with a Purpose

Congratulations to the Love, Chloe Foundation! They were the grand prize winners at the Salina Area Young Professionals 3rd Annual Party with a Purpose Lip Sync Battle, held Friday, September 6, 2019, at Paramout Bar. As the winners, they received a check for $2,019.  In addition to a sponsorship from the community foundation, the event raised funds through raffle ticket sales and a $5 charge for all attendees. Other nonprofit participants included the Salina Emergency Aid Food Bank, the Salina Alzheimer's Association and Ashby House. The Love, Chloe Foundation makes it to the final round of the lip sync battle at Party With[...]