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One of the easiest ways to leave money to us is through one line in your will:  "I bequeath _____________ (either $_____, _____%, or "the residue") of my estate to the Community Foundation of Grundy County (EIN #36-4299824) for _________________________."

How you fill in the first blank is up to you.  Most people who want to assure that their heirs are taken care of through their will choose either a percentage or the residual.

The second blank can say "for their unrestricted use" or it can say "to the ________ Fund."  Please look through our website to view the various funds that we hold - one of them might already address your favorite cause or charity.

If you want your estate gift to start a donor fund that you design, please complete a "New Fund Questions" form so that we can prepare a Fund Establishing Document for your signature.  That document will then be filed both with us and with your attorney.  The fund will be activated with the asset arrives from your estate.

Sample Will of Jim & Carol Baum

Another simple way to leave money to CFGC is to make us the beneficiary of your life insurance policy:  "to the Community Foundation of Grundy County (#36-4299824) for _____________________."

The blank can say "for their unrestricted use" or it can say "to the ________ Fund."  Please look through our website to view the various funds that we hold - one of them might already address your favorite cause or charity.

If you want your estate gift to start a donor fund that you design, please complete a "New Fund Questions" form so that we can prepare a Fund Establishing Document for your signature.  That document will then be filed with us and activated with the money that arrives from the insurance company.

You can name the Community Foundation of Grundy County (#36-4299824) as the beneficiary of your IRA and other retirement plans such as a 401(k), Keogh or 403(b). This is a simple, effective way to benefit the Foundation and other causes you love while avoiding significant, often unanticipated, tax penalties. Any remaining retirement fund assets are subject to multiple taxes if left to an individual other than your spouse. Donating assets from retirement plans can reduce or eliminate these taxes completely and make a significant impact for the Foundation and your other favorite causes and organizations.

If you want your retirement account to start a donor fund that you design, please complete a "New Fund Questions" form so that we can prepare a Fund Establishing Document for your signature. That document will then be filed both with us and with your attorney. The fund will be activated with the asset arrives from your estate.

By transferring assets to establish a charitable remainder trust, you receive an immediate tax deduction and lifetime income for you and/or your named beneficiaries. You can also potentially reduce or avoid capital gains taxes associated with the gifted asset. When the trust's term is complete, any remaining assets pass to the Community Foundation of Grundy County to benefit the causes or organizations you specify.

When you create a charitable lead trust, the trust makes regular income-tax-deductible gifts to the Community Foundation of Grundy County as the income beneficiary for a period of years for the charitable purposes you specify. When the trust terminates, the remaining principal and any accumulated appreciation are returned to you or to your loved ones, often with significant tax savings.

Administering a private foundation under IRS rules can be burdensome and expensive. Transferring the assets into a donor-advised fund at the Community Foundation of Grundy County provides a simple and cost-effective alternative that will free you to focus on your charitable passions and ensure that your foundation's identity and charitable impact continue into the future.

Advantages of Transferring a Private Foundation to a Donor-Advised Fund:

• Ensure the preservation of your foundation's charitable intent and identity.
• Alleviate administrative burdens; no separate tax return to file.
• Potentially lower your operating costs.
• No annual distribution requirement; recommend grants on your own timetable.
• Flexible investment options.
• Anonymity if desired.
• Enjoy greater tax benefits on future contributions.
• No excise taxes.
• Receive assistance identifying and vetting charities and funding opportunities.
• Guarantee opportunities for continued input and involvement for your family and other representatives you choose.
• Free yourself to focus on your mission and grantmaking.

The content provided above and throughout this website is for informational purposes only and should not be construed as or relied upon as legal or tax advice. The Community Foundation of Grundy County does not provide legal or tax advice and recommends that you consult with your tax attorney and other members of your professional advisor team before proceeding with a liquidation, dissolution, or termination of a private foundation or any other charitable gift.