The 5 Ways of Giving
Tax Effective:
The Community Foundation for Ireland is a charity and an approved body for the purposes of section 848A, Taxes Consolidation Act, which relates to tax relief for donations to approved bodies. See the Revenue Commissioners website for further details and certificates to be completed by donors who are PAYE taxpayers:
One Off or Multiple Cash Gifts:
The most popular method of giving to the community via The Community Foundation for Ireland is by a tax-effective cash gift. This can be either a one-off payment, or spread over a number of years. For example, an individual, family, business or institution can make a single payment of €100,000 or alternatively, pledge €100,000 and pay it over four annual instalments of €25,000. A series of annual gifts can also be of differing amounts, reflecting the individual or company's situation.
Many donors use a cash gift to the Foundation as a convenient way of rationalising their giving plans. Companies, for example, use a cash gift to – or fund at - the Community Foundation for Ireland to insulate themselves from the day-to-day administration associated with vetting charitable requests.
An individual could choose to make a single, tax-effective gift to The Community Foundation for Ireland instead of many smaller gifts to a multitude of different organisations. They can then use their single gift to channel money to local issues, charities or areas they feel most need their help.
Through a planned gift to the Community Foundation for Ireland, you may be able to make a more substantial gift than previously imagined. The term "planned giving" describes the ways in which individuals make charitable gifts for the future. You can make a planned gift to an existing fund or establish a new named fund.
Bequests:
Throughout their lifetime, people volunteer regularly and give to charity. Why let it end there? That support would be greatly missed when they are gone. That’s why many people sustain their investment of time and donations by leaving a legacy through their will or estate plan. In that way, your generosity too will be remembered in your community for ever. See the “Leave a Legacy for Ireland” section for more details.
You can make a provision in your will for a gift to the Community Foundation. This is perhaps the simplest form of planned giving and the vehicle most commonly used. Of all the things you leave behind, it could be the most meaningful.
Charitable Gift Annuities:
You can receive a lifetime income from a charitable gift annuity. Following your death, the unused portion of the gift remains with the Community Foundation for Ireland as a permanent fund to support charitable purposes already chosen by you.
Charitable Remainder Trust:
You can transfer property to a trust that pays you or another beneficiary a fixed or variable income for a fixed amount of time. When the trust expires, the remainder is used to establish a permanent fund in the donor's name with distributions directed as he or she has chosen.
Life Insurance:
You can name the Community Foundation as the owner and beneficiary of a new or existing life insurance policy and receive a current income tax deduction.
Whatever your charitable interests and intentions …….
While these are the most common ways for individuals to make planned gifts, other forms of giving are available. Staff at the Community Foundation for Ireland are focussed on accommodating donor needs and would be pleased to discuss planned giving options with you and/or your professional advisor – on a totally confidential, no-obligation basis.
