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 Policies.

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

Apply now for fall grants!

The Smoky Hills Charitable Foundation is now accepting applications for fall grants. Online applications are due Saturday, September 15, 2018. A total of $50,000 is available through the Dane G. Hansen Community Grant Fund. Grants will be awarded to charitable community improvement projects that address the present and future needs of Ellsworth County, including education, health care, community social services and security, conservation and environment, arts and culture, and community beautification. Grants are limited to communities in Ellsworth County and will be awarded through a competitive application process. Nonprofit organizations, government and public entities, educational institutions and churches are encouraged to[...]

Scholarship recipients announced

The Smoky Hills Charitable Foundation has awarded over $15,000 in scholarships to area students for the upcoming academic year. The Charles and Velma Westerman Scholarship is for graduating high school seniors and graduates of Ellsworth High School. Lukas Sebesta, Wilson, received a $1,200 scholarship; Zachary Schneider, Kanopolis, received a $900 scholarship; and Darrell Gustin, Brookville, Dominick Kratzer, Kanopolis, and Janae Schulte, Ellsworth, each received a $450 scholarship. The Dawn L. Pruitt Memorial Scholarship is for graduating high school seniors and graduates of Ellsworth High School. Dominick Kratzer, Kanopolis, and Janae Schulte, Ellsworth, each received a $1,000 scholarship. The Eleanor Hunter[...]