Donor's asset(s) (which may include cash, securities, real property, etc.) are invested in a trust. Donor receives a charitable tax deduction at the time the assets are transferred.
A regular distribution is given to the donor, another named beneficiary or both for life or a specified term of up to 20 years. At the end of the period the asset(s) is transferred to the Cortland Communtiy Foundation.
Donor Benefits By:
- Deferring capital gains taxes on highly appreciated assets
- Reducing the size of their taxable estate
- Receiving an immediate charitable tax deduction
- Earning cash flow income for the rest of their life
- Diversifing their investment portfolio with a professional fund manager
- Making a gift to charity