Outright gifts may include cash, securities, IRA gifts, and life insurance.
Gifts of Cash
A cash gift is one of the simplest way to make a gift to the Foundation’s Civic Leadership Fund (CLF), to add to an existing fund or scholarship or to establish a new named fund or scholarship. Checks should be made payable to CFGNB and should be delivered or mailed to the Community Foundation of Greater New Britain, 74A Vine Street, New Britain, CT 06052.
Pay via credit card by clicking on the Give Now! button at the top of this web page.
Many companies will match the value of your charitable gift to the Community Foundation of Greater New Britain if you or your spouse are an employee or retiree. This gives you the opportunity to double, or even triple the value or your gift and can be very helpful in situations where you may be working to build a new fund or scholarship.
Securities – Stock – Mutual Funds
Gifts of appreciated securities (bonds and stock, including stock in closely held companies) also may be used to make a gift, establish a fund, or add to an existing fund. Such gifts often provide savings on potential capital gains tax. Their full fair market value may be deductible as a charitable contribution. Please consult your tax advisor for more information. To make a gift transfer of stock or mutual funds inform your brokerage firm that our Foundation’s DTC # is 0235 at RBC Wealth Management for account number 319-94505. The contact at our brokerage is Joseph Troy at 860-703-6616 if you have any questions. Please inform the Foundation of any gift transfer that will be coming to the Foundation including the name of the stock, the number of shares, donor name, and what the gift is to be designated to so we can acknowledge and record it properly.
IRA Charitable Rollover Gift
If you are age 70 1/2 or older, you can direct a charitable gift of up to $100,000 from your IRA annually and have it count toward your required minimum distribution (RMD), thus reducing your taxable income. This gift, directed by you from your IRA administrator to the Community Foundation of Greater New Britain, will not be reported in your income and therefore is not an itemized deduction. This IRA charitable rollover is especially attractive if you do not itemize charitable deductions or have high income. To make this type of gift, instruct your IRA administrator to issue a check to the Community Foundation of Greater New Britain and have them either send you the check or send the check directly to the CFGNB at 74A Vine Street, New Britain, CT 06052. You do not want the check made payable to you or it will qualify as personal income and you will have to pay the taxes.
You need to explicitly tell your IRA administrator to include your name with the check so that we know who has directed that gift from their IRA to us. If you do not expressly tell them to do that most will not. If no name is included on the check we do not know who should be credited with that gift and what fund the gift should go into. If we are aware of the IRA gift you will be sent an acknowledgement thanking you for directing that gift to us and your record will reflect a soft-credit similar to when someone directs a matching gift to our organization. Soft-credits are counted in your cumulative giving record to the organization for recognition purposes.
Other forms of giving, such as deferred gifts in a bequest, trust or from life insurance, are encouraged and may offer qualified donors an attractive alternative, enabling them to save on estate taxes, care for family, and significantly increase the level of their charitable gifts. An individual or family which informs the Foundation of a Planned Gift that will ultimately benefit the Foundation or any of its funds will be welcomed into the Beehive Legacy Society allowing us to thank you for your vision throughout your lifetime. Go to our Planned Giving page for more information.
Click the links to the right for more information on ways to give, or call or e-mail Kaylah Smith, , Program Associate & Assistant Director of Development at 860.229.6018, x305.