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FORM 990

If you wish to view our IRS Form 990, you may download it pdfhere or check the following website: www.guidestar.org.



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New Tax Laws Impact on Charitable Giving

Many Americans will be assessing the new Federal tax law to determine how it might impact their charitable giving. The new tax law may provide opportunities for increased charitable giving based on the individual needs of different donors. We encourage you to consult with your legal or tax advisor to consider how best to fulfill your charitable giving and to understand how these changes specifically impact your financial situation.

The following is an outline on the major changes as a result of the new tax law:

1.) Lowers individual tax rates: The majority of tax rates or brackets have been reduced. This will affect how much you may owe in taxes and reduce the value of all tax deductions.

2.) Nearly Doubles the Standard Deduction: The standard deduction was nearly doubled to $24,000 for married or joint filers from $13,000; and for individual filers from $6,500 to $12,000.

3.) IRA Charitable Rollover: For donors 70 ½ or older, this gift can fulfill their Required Minimum Distribution (RMD) and roll over up to $100,000 directly to most types of funds at The Community Foundation, and the distribution will not be considered taxable income to the donor. 

Several Charitable giving tools were left untouched by the new tax law and remain key gift planning options for donors. These include:

1.) Donor Advised Funds: By establishing a DAF at The Community Foundation you have the opportunity of making significant charitable contributions into your own personalized fund. In addition, you will receive an immediate charitable tax deduction for your gift.

2.) Gifts of Stock and Real Estate: The opportunity to give appreciated stock or real estate to a charitable fund and possibly bypass capital gains taxes is an option for consideration.

3.) IRA Charitable Rollover: For donors 70 ½ or older, this gift can fulfill their Required Minimum Distribution (MRD) and roll over up to $100,000 directly to a designated fund or existing fund at The Community Foundation and the distribution will not be considered taxable income to the donor.

4.) Charitable Gift Annuities, Charitable Remainder Trusts, Charitable Lead Trusts and other tax-qualified deferred gifts: These types of giving tools or options provide a donor the opportunity to receive a charitable tax deduction for their gift, possibly bypass capital gains taxes, receive income for life, and direct a portion their gift to their favorite charity.

Even though the new tax law may impact charitable giving, the vast majority of individual charitable gift decisions are not made with tax considerations in mind. People give because they believe in giving and want to improve the quality of life in their community.

For more information on charitable giving options, please contact LeeAnn Faucett, Vice President of Philanthropic Services, at 951-241-7777 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it.