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Giving Options

The Webster County Community Fund offers a wide range of gift options that you can use to establish or add to a named charitable fund. Since the BAF is recognized by the Internal Revenue Service as a public charity, donors are provided with the maximum tax benefits allowed by law.

Contributions can be as simple as a check or could be complicated trust agreement. We at the WCCF are here to help you make the right decision for your needs and we will take care of the paperwork for you. Start by referring “What to Donate?” and “How to Donate?” to decide how best to meet your financial and philanthropic goals.

Together we can turn your gains into assets for the good of the community.

What to Donate

The Webster County Community Fund can accept a wide variety of assets including:

· Cash

· Securities (Stocks, Bonds, Mutual Funds)

· Life Insurance


· 401(k)

· Remainder of a Life Estate

· Business

The following assets may be accepted based on review:

· Real Estate

· Tangible Personal Property (art, coins, collectibles and antiques)

How to Donate

Outright Gifts Outright gifts can include cash, securities, real estate, and life insurance.

Gifts of Cash
A cash gift is the simplest way to establish a named fund or to add to an existing fund. Cash gifts of all sizes are accepted and appreciated.

Click here to make a cash contribution now

Gifts of appreciated securities (bonds and stock, including stock in closely held companies) also may be used to establish a fund or add to an existing fund. Such gifts often provide important tax advantages.

Life Insurance
Life insurance policies also can be used as charitable gifts. If you name the Beckley Area Foundation/Webster County Community Fund as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction, which usually approximates the cash surrender value of the policy. All premium payments made by you thereafter will be deductible as a charitable contribution.

Memorial Gifts Special funds can be created to handle tributes and memorials. Donors may also contribute to existing funds to:

  • Honor a living person
  • Memorialize deceased persons
  • Commemorate anniversaries or other special events

Remainder Gifts Donors often choose to leave charitable assets upon their death. After assuring that their loved ones have been cared for, donors can use a variety of assets, such as pension plans, life insurance or the proceeds from the sale of a house, for charitable purposes.

You can establish or add to a named fund in your will or trust through a bequest. Your gift can be used to accomplish almost any charitable goal:

  • Establish a discretionary or field of interest fund to respond to changing community needs
  • Leave a family legacy, which allows children to continue their involvement in charitable grant making

· Create an endowment for a particular charity

Click Here For Bequest Language Wording

Pension Plan Beneficiaries
A retirement plan is one of the best types of assets to transfer to a charity because it produces taxable income. Most assets that an heir inherits are free from income tax. However, an heir will pay income tax on disbursements from a decedent's retirement plan such as a profit sharing plan, Section 401(k) plan or IRA. If you are going to make a charitable bequest, it is usually better to transfer the taxable assets subject to income tax to a tax-exempt charity – such as the WCCF– and to transfer the assets not subject to income tax to heirs.

Life Insurance Beneficiaries
Perhaps you would like to contribute the proceeds of a life insurance policy to help the community, but you are not yet ready to give up ownership of the policy. By naming a Community Foundation only as beneficiary, you retain ownership of the policy and have access to the cash value as well as the right to change the beneficiary.


Last Updated (Tuesday, 03 May 2011 14:24)