CF Foundation

  • Cash
  • Stocks/Securities
  • IRA/Pension
  • Life Insurance
  • Deferred Gifts

Cash

A cash gift is the easiest way to give and is as simple as writing a check to the "CF Foundation". For making a monthly pledge a debit authorization can be setup by filling out this form and sending it to the CF Foundation with a voided check. Send or drop off all checks to the following address:


Attn: Lisa Ulmer, CFO
CF Foundation Inc.
3001 SW College Rd.
Ocala, FL 34474

Cash gifts may be deducted on your federal income tax return up to 50% of your adjusted gross income (AGI). If, during any given year, your total charitable contributions exceed this limitation, you may carry over the remaining deduction for up to five succeeding tax years. With the assistance of your financial planners (attorney, CPA) and our staff, we can plan your gift to maximize your tax deduction and lower the "cost" of giving by creating tax significant savings.


If you have any questions please contact Lisa Ulmer at 352-854-2322 x1600.


Stocks and Securities

If you own a business or have privately-held stock, you may give this type of stock to the CF Foundation and receive a federal income tax charitable deduction for the full fair market value of the shares. Click here for an example


The gift of highly-appreciated securities creates a charitable income tax deduction for the fair market value of your shares and enables you to avoid paying tax on the paper gain.


In effect, you save on taxes twice! With a gift of securities, your charitable deduction is limited to 30% of your adjusted gross income (AGI). Any unused portion of the deduction can be carried forward, subject to the same 30% of AGI limitation, for up to five additional years.


Another important advantage of using appreciated securities is that if you wish to make a substantial gift to the college, you can also retain an income stream from your assets to support yourself during your retirement. You can do this by establishing a trust or gift-annuity with a gift of appreciated securities. You may then be able to convert a highly-appreciated, but low- or non-income producing asset to one yielding higher income.


Making a gift of appreciated securities may enable you to use the cash you saved to purchase the same number of shares of the same stock. You will then have an increased basis, which may lower your capital gain tax if and when you sell the securities.


To take advantage of the tax deduction, you would need to transfer your securities to the CF Foundation. If you sell them then you will have to pay the capital gains tax, if we sell them you will not have any capital gains tax to pay. If you have securities that have depreciated in value, you should sell this type of security and then when you contribute the proceeds to the Foundation you can take then take a capital loss on the sale of this asset.


If you wish to make a substantial gift to the college using appreciated securities, you can also retain an income stream from your assets to support yourself during your retirement through a trust or gift-annuity. Click here for information on trusts and gift annuities.


IRA and Pension Plans

Making the CF Foundation a beneficiary of your individual retirement account, pension 401(k), or other retirement savings plan may save you and your heirs significant income and estate tax dollars. This type of asset is so heavily taxed, that you may find it advantageous to make a gift of your retirement plan assets while reserving for heirs other assets that are not as heavily taxed.


You also can arrange for lifetime income to be paid from retirement funds to a family member after your death, with a gift to the CF Foundation at a later date. Your retirement plan probably accounts for significant assets in your estate. At the same time, your pension plan assets could be subject to taxes to over 70% when the proceeds go to family members, with your heirs receiving only a fraction of the value of your retirement plan after the payment of the taxes. This is caused by the imposition of both the estate tax and a tax on income in respect of a decedent, commonly referred to as IRD. IRD is income that was earned by the plan participant but was not taxed to that individual before death. As a result, any of your heirs receiving distributions from your retirement plan assets after your death, must pay an income tax on the proceeds. If your assets are left to one of you children, for example, your children would be required to pay personal income tax on the funds they receive and the amount of their inheritance could be reduced by more than 45% (combined individual state and federal rates).


To make the CF Foundation a beneficiary of a part, or all, of any of the above mentioned options, is easy to accomplish. We will be pleased to provide you with the appropriate language to use, and your employer, attorney or other financial advisor can assist you in making the necessary changes in your beneficiary designation.


Life Insurance

By transferring actual ownership of an existing paid up insurance policy to the CF Foundation, or by purchasing a new policy naming CF the beneficiary, you will be able to receive an income tax charitable deduction.


Life insurance enables you to leverage in the future your actual cash gift today. Life insurance can combine with other gifts to replace dollars for your heirs that you decide to give to the CF Foundation. For example, by combining a charitable remainder trust and an irrevocable insurance trust, you can make a charitable gift to the CF Foundation and replace the assets with life insurance for the benefit of your heir. To accomplish this, you would simply use all or part of your trust or annuity income, and any tax savings that resulted from the gift, to buy an insurance policy for an amount equal to the charitable gift. By naming a spouse or child as the beneficiary, you can pass an asset of equal worth to your heirs while still accomplishing your philanthropic objectives.


Deferred Gifts

You may wish to make a significant gift to the CF Foundation but feel it is important to retain income from your assets to support yourself during retirement. Many types of special and unique vehicles are available to assist you in your planning (e.g. "deferred gifts," "planned gifts" or "life income gifts"). They can give you the satisfaction of helping CF serve our students and community, while providing you with cost-saving financial-planning options that serve you and your family.


Click on the link below for detailed information on a specific planned gift. Click on the link to close the section.


Will or Living Trust


Life Income Plans


Charitable Lead Trust


Charitable Gift Annuity


Charitable Remainder Unitrust


Net Income Unitrust


Flip Unitrust


Charitable Remainder Annuity Trust


Charitable Deferred Gift Annuity


Testament Trust


For further questions or comments, please contact:

CF Foundation
Phone: 352-873-5808
Fax: 352-291-GIVE