Did you know that at age 72, the IRS mandates you to take a "Required Minimum Distribution" (RMD) from your IRA and other retirement accounts?  In most cases, this RMD is taxable income to you!  You can reduce or eliminate that tax burden by donating some or all of your RMD to a charitable organization such as the Frankenmuth COmmunity Foundation.  For more information, please contact Jonathan T. Webb, Executive Director at 989-274-1013 or email frankenmuthcommunityfoundation@gmail.com.

Appreciated stocks and bonds may be given to the Foundation. This can provide important tax advantages for donors who have held assets for a long period of time.

May be also be given to the Foundation at its current market value allowing the donor to receive a full charitable deduction and avoid capital gains taxes.

Life insurance can be used to create a major gift for the Foundation in one of two ways. First, the donor can transfer ownership of a policy to the Foundation and receive a current income tax deduction in the year the transfer is made. Second, the donor, while retaining ownership of the policy, can simply name the Foundation as beneficiary of the policy effective upon his or her death. At that time, his or her estate will receive a tax deduction.

Donors may name the Frankenmuth Community Foundation as the beneficiary of an IRA or other retirement assets such as a 401(k), Keogh, or 403(b). These funds may be used to establish a new fund or contribute to an existing one.

Bequests to the Frankenmuth Community Foundation in a donor's will allows charitable intentions to be carried out in perpetuity and can significantly reduce the taxes otherwise payable on his/her estate. This ensures that the donor provides a lasting legacy for the causes he/she cares about most.

There are many ways to make a charitable gift and still receive income for life or for a specified time. Through these methods donors can retain income for themselves and their spouse while obtaining deductions on current income, estate and gift taxes. The following are two examples:

Charitable Gift Annuities: The Foundation offers competitive yields to individuals who want to make current gifts yet retain a lifetime income. A portion of these gifts may be tax-deductible, and income is guaranteed.

This type of planned gift can be created so that the donor or other specified beneficiary receives a lifetime income. At the death of the income beneficiary, the remainder of the trust passes to the Foundation for use toward the charitable purposes specified by the donor. These trusts provide a current income tax deduction if irrevocable or, if revocable, an estate tax deduction upon the donor's death.

To learn more about the benefits and process for making a gift to Frankenmuth Community Foundation, please contact Executive Director Jonathan Webb.