Ways to Give
Heritage Fund offers a wide array of avenues to make gifts – our goal is to provide convenience, flexibility and ease of mind for donors. All approved gifts are tax-deductible to the extent approved by law and Heritage Fund will send a confirmation letter for all gifts and contributions when gift is received.
While the Heritage Fund can and will be helpful in advising donors about making gifts, we strongly encourage our donors to work with their professional advisors to determine the strategies that are most advantageous and appropriate to the individual circumstances and desires of the donor.
Funds can be started or established with cash gifts.
Gifts of stocks and securities can be processed easily with help from staff at Heritage Fund. Stocks/Securities Gift Procedures lays out instructions for making gifts.
Real Estate and Personal Property
Gifts of real estate may include homes, condominiums, apartments, undeveloped land, farmland and rental property.
Remembering the community in one's will can be an important way to reduce estate taxes. A donor may leave a share of an estate or a specific dollar amount.
Life Insurance Policy
A donor assigns the policy and beneficiary rights to the Heritage Fund. The charitable tax deduction will be for the present cash value of the policy. If the donor continues to pay annual premiums, these, too, are tax deductible.
Charitable Remainder Trust
A donor places assets in trust and receives income for life or designates a spouse, children or other to receive the income. The donor receives a charitable deduction, avoids capital gains tax and removes the asset from his or her taxable estate. The asset eventually passes to a named fund of the Heritage Fund.
Charitable Lead Trust
This trust pays income to the Heritage Fund for a specific number of years. Then the principal is given to designated beneficiaries. This removes assets from a donor's estate and gifts the assets to heirs. The donor pays no income or capital gains taxes on this asset during the period of control by the Heritage Fund.
A donor may contribute a home or farm but retain the right to live in it for life. After the lifetime, the property's value will be used to establish a fund with the Heritage Fund. The donor receives an income tax deduction, avoids capital gains tax and exempts the property from estate taxes.
If the donor is the beneficiary of a trust that pays a regular income, a portion of this income may be assigned to the Heritage Fund. The donor pays no further tax on this income and may take an income tax deduction for the value of the assignment.
Individual Retirement Account
The IRA that helps a donor and spouse face retirement years will be reduced greatly by income and estate taxes before it reaches their heirs. By naming the Heritage Fund as the contingent plan beneficiary, all of the assets will be used to benefit the community.
The Bartholomew Society is a group of generous individuals who have a philanthropic wish to give back to their community. Bartholomew Society members plan for future gifts to the community through estate plans which build or add to endowed funds at Heritage Fund. Gifts can be made through estate plans, bequests, insurance policies, remanders trusts or other planned gifts. Through the Bartholomew Society, we are able to recognize these individuals during their lifetime. If you choose to become a Bartholomew County member, we encourage you to let us know so we may enter your name in the membership record. Please contact Lisa Shafran at (812) 376-7772 or firstname.lastname@example.org if you have questions or would like more information.