We can accept cash gifts of any amount by cash, check, money order or credit card.

• Donate online right now with a credit card
• Checks and money orders should be made payable to the Community Foundation of Eastern Connecticut and mailed (or delivered in person) to our offices at 68 Federal Street, New London, CT 06320.
• If you mail your donation, be sure to specify the specific charitable fund you wish to support and let us know whether the gift is being made in honor or memory of someone, and if you would like an acknowledgement sent.

The Charitable IRA Rollover (qualified charitable distribution or QCD) might be a wonderful opportunity for you to make a lasting impact on the charitable causes you love through a fund at the Community Foundation.

It allows individuals age 70½ and older to make direct transfers of up to $105,000 per year from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. Since no tax is incurred on the withdrawal, gifts do not qualify for a charitable deduction, but may be counted toward an individual’s required minimum distribution (RMD)*.

If you make any additions to your IRA past age 70½, and then want to make a QCD, please consult with your tax advisor.

What can you do with your RMD at the Community Foundation of Eastern Connecticut?**
Here are some examples of what you can accomplish by making your RMD to the Community Foundation.

• Establish a permanent endowment fund to support your favorite charity forever. You can contribute your RMD to create a permanent endowment fund at the Community Foundation designated to support your favorite charity or field of interest. These assets would be invested over time, and each year an annual distribution of the fund’s value would be made in your name to the named charity(ies).
• Support emerging community needs. Each year, the Community Foundation receives over a hundred proposals from local charities for grants to support programs or projects that make our community better. You can contribute up to $105,000 of your RMD to support these grants. You can review some examples by looking at our grants stories and the list of the recent year’s grants. You can also indicate an area of focus, like the environment, homelessness or performing arts.
• Help to sustain the work of the Community Foundation. The Community Foundation is not only a grant making partner to the nonprofits, but is a thought partner and convener working to make Eastern Connecticut a more sustainable and thriving community. You could choose to contribute your RMD towards our Community Leadership Fund, joining many other fund holders and donors who support the Community Foundation’s ongoing operations.

For more information about this giving opportunity, please contact Lauren Parda, Director of Development, at lauren@cfect.org or 860-442-3572.

Sample IRA Rollover Letter

*You must take your first required minimum distribution for the year in which you reach age 72 (73 if you reach age 72 after Dec. 31, 2022). However, you can delay taking the first RMD until April 1 of the following year. If you reached age 72 in 2022, you must have taken your first RMD by April 1, 2023, and the second RMD by Dec. 31, 2023. If you reached age 72 in 2023, your first RMD for 2024 (the year you reach 73) is due by April 1, 2025. (Source: https://www.irs.gov/retirement...)

**IRS regulations prohibit charitable IRA rollovers from being placed in Donor Advised Funds (DAFs).

We can accept gifts of publicly traded stocks and bonds, including appreciated securities and closely held stocks.

• Gifts of appreciated stocks qualify for an income tax deduction equivalent to current market value of the stocks (as determined by IRS rules and regulations).
• The date for establishing the gift value of a stock is the day the shares enter our foundation’s account.
• There is no capital gains tax when appreciated stocks are transferred.
• Gifts of closely held stocks are subject to the review and approval of our Development Committee, and enjoy the same tax benefits as publicly traded stocks.
• Gifts of publicly traded stocks held at a brokerage can be electronically transferred to us by your financial agent or bank using the DTC automated transfer system. Click here for the information your agent will need to perform the transfer.
• For stocks held in certificate form, please contact CFECT for instructions.
• To ensure proper receipt and acknowledgement of your gift of stock, please contact Lauren C. Parda, Director of Development, at lauren@cfect.org or 860-442-3572.

One of the simplest ways to make a Planned Gift is by including a provision in your will called a bequest, which states that a specific share of your estate will be distributed to our foundation for the charitable fund or purpose that you name. Examples of Bequest Language.

• You can make a specificbequest, where you bequeath us a specific item, a specific dollar amount or a specific percentage of your estate.
• You can make a residuary bequest, where you bequeath the remainder of your estate to us, after providing for your family and other heirs.
• You can make a contingency bequest, where you bequeath a gift under certain terms or conditions – for example, only if you outlive your spouse.
• We recommend that donors consult with their professional advisors on bequests to determine which of your assets are best given to charity and which are best given to heirs; which provide the best tax advantages; as well as which type makes the most sense for your financial situation.
• We recommend that donors keep the bequest language that describes your charitable intentions as general as possible and indicate that the specific details on your intentions are on file with our foundation. That way, you can make updates at any time, without incurring the expense of rewriting your Will.

We can accept gifts of existing or new life insurance policies, subject to the review and approval of our Board or related committees.

• Donors can deduct the premiums for their life insurance policy if they designate our foundation as the owner and beneficiary of the policy.
• When the policy is redeemed, we will establish a permanent fund that reflects your charitable wishes.

We can accept gifts of real estate that have a fair market value of $100,000 or more, subject to the review and approval of our Board or related committees.

Real estate gifts can be complex and of substantial value. Please contact Lauren C. Parda, Director of Development, at lauren@cfect.org or 860-442-3572 to discuss a proposed real estate donation.

We can accepts gifts of certain personal property, subject to the review and approval of our Board or related committees.

Personal property gifts can be complex and of substantial value. (Most such gifts are deductible only at cost basis.) Please contact Lauren C. Parda, Director of Development, at lauren@cfect.org or 860-442-3572 to discuss your proposed donation.

Individuals or families who run a private foundation and wish to be freed from burdensome administrative, regulatory and tax requirements can donate their foundation’s assets to us – yet retain all the essential prerogatives of their private foundation. Read more about How We Help Private Foundations