TCF Foundation provides you the opportunity to help ensure that The Compassionate Friends will always be there. Following are some of the many possible ways you can participate in the foundation’s campaign:
SUPPORT OF TCF FOUNDATION
CASH GIFTS
A cash gift is the most common way of giving.
TCF Foundation has been set up to accept major gifts of $5,000 or more. Donations are tax deductible to the extent allowable by IRS regulations.
You can now make a cash gift (partial or full payment) online. Please note on page two of the online payment form if your payment is for the full gift ($5,000 or more) or how you plan to divide the remainder of the gift (payments may be made over three years). We will be in contact with you and you will receive a thank you note from us to show that the donation is tax deductible.
SECURITIES
A gift to TCF Foundation of stocks, bonds, mutual fund shares, or an IRA can be an effective way of making an investment in the future of the organization while also realizing personal financial benefits.
The long-term capital gains tax on securities may often be avoided if the stocks or bonds are donated directly to TCF Foundation instead of being sold. This is especially advantageous with highly appreciated securities. In addition, you are usually allowed a federal tax deduction for the full market value of the stock you donate. Please consult with your tax adviser.
ESTATE
There are several estate planning techniques that may benefit both you and TCF and also establish your personal legacy of love. Your estate-planning attorney can advise you. TCF Foundation will assist your advisors in any way that will be helpful. Please contact the Executive Director of TCF early in your planning. In general, gifts to TCF Foundation may be deducted on both federal estate tax and income tax returns.
GIFTS BY WILL
You may prefer to remember TCF by making a charitable bequest in your will. You can designate specific property to go to TCF Foundation such as cash, real estate, stock, bonds, life insurance, proceeds from retirement benefits, or any other type of asset. Charitable gifts of this type of property are deductible for federal estate tax purposes. For a will, the official name to use is: TCF Foundation, Inc., a not for profit corporation of Illinois now having its mailing address as P.O. Box 3696, Oak Brook, Illinois 60522.
There are several methods of making a charitable bequest in your will. Some are:
- A percentage of the estate
- A fixed dollar amount
- Specific items (real estate)
- Residue (after other bequests)
LIFE INSURANCE
A life insurance policy that names TCF Foundation as the owner and beneficiary is an excellent way to contribute substantially to the endowment fund.
This can be done with either a new cash value policy of $25,000 or more face value or an existing policy with a cash value of $5,000 or more that you no longer need for your family’s security. The approximate cash value of an existing policy can be considered as a gift for income tax purposes. The premiums paid after the gift is made are also considered tax-deductible charitable contributions. You may wish to simply make TCF Foundation the beneficiary for part or all of the proceeds of a policy that you continue to own and control. The purchase of a new policy, like the popular Survivorship Life Policy, is one way of making a rather substantial contribution to the TCF Foundation. This policy insures two lives, such as husband and wife, and is redeemed at the second death. It generally has a lower premium than a policy insuring only one life. The applicant, owner, and beneficiary should be TCF Foundation, thus permitting the premium to be tax deductible. Consult your life insurance agent about transferring an existing policy or setting up a new one.
OTHER FORMS
Please consult your professional advisor to discuss the many different options you have to support TCF Foundation.