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Gift Options

Gift Options – The Types of Assets You Can Give to CFHoCo

For questions regarding a specific type of gift or asset, please email CFHoCo’s President & CEO, Beverly White-Seals, or call 410-730-7840.

Cash And Checks

Donors most often make a “cash” gift in the form of a check payable to the Community Foundation of Howard County. Cash gifts enable donors to claim a current income tax deduction of up to 50 percent of their adjusted gross income in the year the gift was made.

Please make checks payable to “CFHoCo” and mail to:

Community Foundation of Howard County
10440 Little Patuxent Parkway, Suite 230
Columbia, MD 21044

Please designate on the memo portion of the check the name of the CFHoCoFund your gift is intended to support. For a complete list of CFHoCo Funds click here.

Online Credit Card Gift

For your convenience, the Community Foundation accepts credit card donations and electronic transfers through a secure connection.

Click here to make an online gift.

When making your gift:

Please remember that you will be asked to designate a specific fund your gift is intended to support.
If your gift is in memory or in honor of someone special, please include the appropriate information CFHoCo will need to acknowledge your gift.
CFHoCo uses PayPal to process online/credit card donations. A processing fee will be deducted from your gift.

Stocks, Bonds & Mutual Funds

Many donors give appreciated publicly traded securities as a “tax-smart” way to accomplish their charitable giving goals, especially in the case of highly appreciated securities.

You can transfer appreciated stocks, bonds or mutual fund shares you have owned for one year or more to the Community Foundation of Howard County, reinvesting in your community and qualifying for an immediate tax deduction based on the full market value of the stocks. CFHoCo also can sell your securities and use the proceeds for its programs.

Publicly Traded Securities

Donors receive a double income tax benefit when gifting publicly traded securities:

Capital gains taxes on the securities’ appreciated value are avoided, and
Donors receive a charitable deduction for the stock’s full market value up to 30 percent of the donors’ adjusted gross income.

If you would like to make a gift of publicly traded securities, please call CFHoCo at 410-730-7840 or email info@CFHoCo.org to provide the name of the stock, the number of shares you intend to give, and the date when the transfer will be initiated.

To initiate a stock transfer:

Wire to: National Financial
DTC # 0226
For Credit to: Greater Horizon for the benefit of The Community Foundation of Howard County
Account No.: NEX-003131
Contribution to: Name of the Fund You to which you Wish to Contribute

Questions about the stock transfer…. contact:

Jodi Adams
Investment Accounting Supervisor
P: 816.627.3410 | F: 816.268.3210 | adams@growyourgiving.org

Closely Held Stock

Proposed gifts of closely held stock are reviewed on a case-by-case basis with CFHoCo’s Board of Trustees. If accepted, donors are entitled to a deduction for the appraised fair market value of the gift, up to 30 percent of the donor’s adjusted gross income (AGI). Taxes on capital gains also are avoided.

Please note that before closely held stock can be accepted, CFHoCo staff and Board will review all relevant documentation to obtain a clear understanding of the related business activities, the underlying assets and liabilities, the nature of the ownership interest proposed to be conveyed and the actual or potential liabilities, if any, associated with holding such securities.

Click here for CFHoCo’s Gift Acceptance Policy.

Mutual Funds

Mutual funds also can be contributed to the Foundation. The value of a share in a mutual fund is its public redemption price (the “bid price”) on the valuation date. Gifts of mutual funds are deductible at their fair market value – up to 30 percent of the donor’s AGI.

Please contact CFHoCo at (410) 730-7840 for specific delivery instructions.

SPECIAL NOTE: If you are considering a gift of publicly traded securities, please notify CFHoCo as soon as possible. We need to know in advance the following information:

Donor’s name;
Name of security being gifted to CFHoCo;
Number of shares;
Approximate date the gift will be made; and Instructions regarding which CFHoCo fund(s) the gift will benefit.

For specific transfer instructions, please call CFHoCo at 410-730-7840 or email info@CFHoCo.org

Matching Gifts

Matching gifts are a great way to double or sometimes even triple the impact of your gift. If you work for (or have retired from) one of the many companies that will match employee donations, you simply need to contact your company’s matching gift office, request a matching gift form and send it with your donation. When we get the form, we will notify your employer, and when your gift is matched, we’ll let you know.

Real Estate

How do you make a gift of real estate?

The Real Estate Charitable Foundation of Maryland (RECFM) was established by the Community Foundation of Howard County to focus exclusively on gifts of real estate.

For many individuals, real estate represents a significant portion of their wealth. A gift of real estate offers an excellent way to unlock the full appraised value of a property and establish a charitable legacy supporting your favorite causes for years to come.

Typically, donors will simultaneously establish a donor-advised fund at the Community Foundation of Howard County. At such time as proceeds have been realized from the sale, and all carrying and transfer costs have been met, the funds will be transferred from the RECFM to the Community Foundation and placed in a donor-advised fund in the donor’s name.

Immediately, you will be able to make grant recommendations from your fund to the causes about which you care.

When is the gift of real estate appropriate?

If you own residential, commercial, industrial, rural/agricultural or undeveloped real estate that you no longer want to maintain or have a partnership interest in a real estate project.
If the property generates income, or can readily be sold after gifting, to fund grant making that achieves your charitable goals.
If the property is environmentally clean.
If the property is free (or can be freed) from mortgage liability.
If you hold a controlling interest in a corporation and the property has been held for more than one year, the corporation may deduct a percentage of the net profit.

What benefits will you enjoy?

The joy of supporting causes and nonprofits important to you.
Maximizing your tax deductions.
Receiving a dependable income for the rest of your life.
Helping to improve the community in which you live.
Supporting your favorite causes and nonprofits now and after your lifetime.
Exiting a 1031 exchange and avoiding capital gains.
Eliminating the headaches of managing rental property currently worth less than your original purchase price.

To initiate consideration of a gift through the Real Estate Charitable Foundation of Maryland, please contact Beverly White-Seals, president & CEO of the Community Foundation of Howard County at (410) 730-7840 or at info@cfhoco.org.

Tangible Personal Property

The Community Foundation accepts meaningful gifts of tangible property including art, antiques, collectibles, rare books, jewelry, gems and stamp and coin collections. Just as you should plan for what will happen to your home, finances and businesses, thought should be given as to what will happen to your artwork, collectibles and other prized possessions. Passing it on to your children or donating it to a museum is not always possible or desirable. Instead, these assets may be donated to CFHoCo, which the Foundation may selland use the proceeds to add to or create a fund.

All gifts of personal property are subject to review by CfHoCo’s Board of Trustees and an independent appraisal arranged and paid for by the donor. Please note that some restrictions do apply to the tax-deductibility of personal property items.

If you are considering making a gift of personal property to the Community Foundation, please contact CFHoCo’s President & CEO, Beverly White-Seals, at 410-730-7840.

Life Insurance

Life insurance provides a simple way for you to give a significant gift to charity and establish your legacy with tax benefits that you can enjoy during your lifetime. By giving a paid-up policy or continuing to pay premiums, you may receive a number of tax benefits, including reduced estate and income taxes. If you choose to continue paying premiums through the Community Foundation of Howard County, you will be entitled to a charitable contributions deduction of up to 50 percent of your adjusted gross income.

Contact CFHoCo to learn more, or contact your insurance agent.

Qualified Retirement Plan Assets

One of the simplest and most tax-efficient ways to leave a legacy is to name the Community Foundation of Howard County as a beneficiary of all or a percentage of your qualified retirement plan(s). When you leave this asset directly to your heirs, it is a taxable event, whereas if you designate CFHoCo as your beneficiary, the Foundation, as a charitable organization, would receive 100 percent of the asset.

If you choose to make a charitable gift of a retirement plan account, please be sure that the beneficiary forms on file with the plan administrator specify the Community Foundation of Howard County as the beneficiary and that you notify CFHoCo about your plans.

Private Foundation Conversion

More advantage, less administrative burden…

The IRS, through a 2003 Revenue Ruling, created a penalty-free process of converting a private foundation to an affiliated fund within a public foundation such as the Community Foundation of Howard County. There are many advantages, and no risk or obligation involved, in exploring a private foundation conversion. Contact CFHoCo to learn more.

United Way Designation

Make your donation by checking the designation box on your employee United Way designation forms, clearly specifying Community Foundation of Howard County, 10440 Little Patuxent Parkway, Suite 230, Columbia, MD 21044.

Our United Way of Central Maryland number is 7180.

Please send a copy of your form to us so we are aware of your gift. Your gift will be acknowledged by United Way for income tax purposes.

Sponsorships

Sponsorships are available for CFHoCo events, products and services and special initiatives. As a sponsor, your business will be recognized by thousands of people who are passionate about making a difference in our community. You will receive high visibility through our events, publications and website. Contact the Community Foundation of Howard County for information about current sponsorship opportunities.