Choose Where Your Donation WIll Go
Because each donor’s charitable goals and concerns are unique, we have created a number of funds which provide you with the opportunity to give according to your areas of interest.
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donor-advised funds – make charitable contributions at your suggestion, giving you flexibility to address various needs in the community. Donor-advised funds are ideal if you would like to take a charitable deduction for one year and spread the contributions out over the following years.
- designated funds – give you preferred charities or agencies annual grants for specified needs or assistance.
- field of interest funds – provide readily-available resources for causes that are of greatest priority to you.
- agency funds – help nonprofit organizations protect and preserve their endowments for future generations. The organizations are also given valuable recognition through inclusion in the Foundation’s investment portfolio.
- memorial funds – ensure that a special person is remembered in perpetuity through a fund that reflects his or her charitable priorities.
- project funds – assist an organization with a specific project or community goal like the Warner Park Kidz Place playground.
- scholarship funds – provide education advantages and assistance for Chattanooga students of lesser privileged areas, levels of income, or schools.
- unrestricted funds – pool unspecified donations and use them to address immediate and pressing needs in the community. Most of these gifts go to the Fund for Chattanooga, the Foundation’s largest fund.
If you are interested in seeing a list of our funds, please visit our types of funds section.
There are also several ways for you to give:
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Outright Gifts allow you to transfer cash or property to CFGC and receive tax deductions for them. Gifts of appreciated property avoid capital gains tax. Outright gifts can include cash, publicly or closely traded securities, tangible personal property, real estate, insurance and retirement assets.
- Gifts of Will are a simple, effective way to ensure that you are always working towards a greater Chattanooga. Gifts of will can be stated outright in the will, or you can provide a clause that gives whatever remains of your estate to a specific charity or fund. Some gifts of will are provided on a contingent basis: the funds are transferred when an heir or the charity meets certain requirements as explained in the will.
- Gifts of Retirement Plan Assets (IRA’s, 401K’s, 403B’s) allow you to designate undistributed assets in qualified retirement plans to charity. By giving them to CFGC, you can relieve your heirs of income tax.
- Remainder Trust Gifts are gifts that give back. You can establish an irrevocable cash or property gift, but you or selected beneficiaries will continue to receive the annual income from the trust. When you die or terminate the trust, the remainder of the assets will pass to CFGC. Remainder Trust Gifts allow you an income tax deduction equal to the amount of interest left in the trust after all expenses are paid.
- Interest Income Gifts or Charitable Lead Trusts could be called “gifts you get back.” You can give the income from the assets in the trust for a designated period of years and still retain the principal for yourself, your heirs or a third party. When the trust is terminated, the principle is yours. Many donors use Charitable Lead Trusts as a “tax-smart” method of passing assets to their heirs.
- Insurance Gifts allow use insurance proceeds to be designated to a charitable giving program. A policy given outright provides the donor with a charitable deduction equal to the cash surrender value of the policy, and any donor-paid premiums are deductible. CFGC can also be named as a contingent beneficiary under an insurance policy.
For donation options click here.
