We are committed to involving even more donors in our efforts to improve the health and well-being of Eastern Connecticut residents.
We are able to accept a wide variety of charitable gifts, from simple cash and credit card donations, to real estate, stocks and life insurance policies.
- We stand ready to walk you through the choices and help identify the best options for you.
- Your professional advisors can also help you determine which of your assets are best given to charity, as well as which fund type best meets your personal financial needs. Read more about Types of Funds
A list of the most common types of gifts we accept appears below. Clicking on the name of the gift type will provide you with a brief description. For the complete details on what we can accept, please see our Gift Acceptance Policy
- 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, as we acknowledge those gifts in a compassionate way.
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 $100,000 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.
*If you reach age 70 ½ in 2020 or later you must take your first RMD by April 1 of the year after you reach 72. If you reached the age of 70½ before January 1, 2020, the prior rule of 70 ½ as the age requirement for RMDs still applies. (Source: https://www.irs.gov/retirement...)
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 $100,000 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, Senior Development Officer, at firstname.lastname@example.org or 860-442-3572. Read more about our Gift Acceptance Policy
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 gain 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. Here is the information your agent will need to perform the transfer:
- Our account name: The Community Foundation of Eastern Connecticut
- Our account number: F/F/C account #ABE-097888
- Our contact: Blake Roper, State Street Global Markets, One Lincoln Street, Boston, MA 02111, 866-548-5595.
- Our DTC Number: 0226 (National Financial Services, LLC)
- Our Tax ID Number: 06-1080097
- Stocks held in certificate form must be delivered to our offices.
- If you mail your stocks to us, 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, as we acknowledge those gifts in a compassionate way.
- To ensure proper receipt and acknowledgement of your gift of stock, please contact Janet Grant, Chief Financial Officer, at email@example.com 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 an outright bequest, where you bequeath us a specific item, a specific dollar amount or a specific percentage of your estate.
- You can make a residual 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 included in a Letter of Understanding kept on file with our foundation. That way, you can update the Letter of Understanding at any time, without incurring the expense of rewriting your Will.
- Read more about our Gift Acceptance Policy
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.
- Gifts of life insurance are subject to review and approval of our Development Committee.
- Read more about our Gift Acceptance Policy
We can accept gifts of real estate that have a fair market value of $50,000 or more, subject to the review and approval of our Board or related committees.
- Real estate gifts can be complex and of substantial value. For complete details of the policies and procedures that apply to the acceptance of real estate gifts, please see Appendix A of our Gift Acceptance Policy
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.) For complete details of the policies and procedures that apply to the acceptance of gifts of personal property, please see our Gift Acceptance Policy
Individuals or families who run a private foundation and wish to be freed from burdensome administrative, regulatory and tax requirements, and worries about doing justice to their charitable mission, 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
Our door is always open!
Whether you are new to philanthropy or looking to do more through your giving, we can help you have a meaningful impact on the issues and communities that you care about. Feel free to contact us for a confidential conversation.
Contact Lauren C. Parda, Director of Development