A Giving Plan That Works for You
We want to help you give in a way that aligns your goals with the needs of your family and community.
Based on your charitable goals, our team will work with you and your attorney or other professional advisors to create a named fund with the Foundation. Your named fund will allow you to make charitable contributions when it’s convenient for you, and then support the nonprofits and causes you care about, now or forever.
There are a variety of ways to make a gift. Many options can provide income during your lifetime or significant tax benefits—or both. We can help you determine the best type of gift for your personal situation.
Make a Gift Today*
Gifts of appreciated, publicly traded stock may provide an income tax deduction and may also help you avoid capital gains tax. So, your after-tax cost of a stock gift may be less than a gift of cash.
The Foundation has a relationship with a brokerage firm to easily accept a transfer of publicly traded securities, and if you have closely held stock, the Foundation can work with you to determine how best to utilize that stock for your charitable giving.
Donating a portion of your IRA to a fund designated to one or more favorite nonprofits or causes may help you meet the IRA required minimum distribution while also providing a tax benefit.
If you are age 70 ½ or older, you can make a gift of up to $100,000 directly from your IRA to the Saint Paul & Minnesota Foundation. This gift can create or add to a fund that will annually and forever support specific nonprofits you choose (a designated fund), your areas of interest (a field of interest fund) or the Foundation’s community grantmaking (an unrestricted fund). Unfortunately, IRA funds cannot be contributed to a donor advised fund without first being recognized as income.
Private foundations can transfer their assets in whole or in part to a community foundation while retaining the donor’s name and charitable goals. This also can lower administrative costs.
Our foundation is able to accept some forms of cryptocurrency (e.g., Bitcoin)—a form of money that uses cryptography to control its creation and its transactions, as opposed to a central authority. By donating cryptocurrency, your gift may provide an income tax deduction and may also help you avoid capital gains tax.Read about our experience with cryptocurrency
Make a Gift Later*
Making a gift through your will is easy, and it also may reduce your taxable estate. This kind of gift “costs” you nothing during your lifetime, but it has the potential to impact the community forever.
We encourage you to consult with your attorney or other professional advisors about your situation. If you choose to make a gift through your will, please let us know. Then we can provide you with suggested language and create a fund agreement that reflects your long-term wishes.
You’ll also become a member of our North Star Society and receive special educational and social opportunities.Download the declaration of intent form
Your 401(k), IRA or other retirement plan may be taxed significantly via income and estate taxes if passed on to your heirs, yet it may be tax-free to charity and can be used to benefit nonprofits in your community.
You can choose to direct all or a portion of your retirement plan assets to the Foundation, and the process is easy using your plan’s beneficiary designation form. In addition, you may be able to leave more money to your heirs by donating heavily taxed retirement plan assets instead of other assets that are taxed at a lower rate.
There are several ways to utilize life insurance to support the community. If you donate a life insurance policy to the Foundation during your lifetime so that the Foundation is the policy owner, you may be able to take a tax deduction as well as deduct any future premium payments, and the policy proceeds will support nonprofits through your fund.
*Disclaimer: This information is not intended to substitute for legal or tax advice. For information on how a charitable gift may affect your personal situation, please consult with your professional advisors.