Greater Lowell Community Foundation

Personal Stories

Belinda Juran and Evan Schapiro: Helping to Maintain and Grow the Merrimack Valley’s Rich Cultural Tradition

Belinda Juran and Evan Schapiro

As residents of the Merrimack Valley for the past 25 years, Belinda and Evan often took advantage of the rich and diverse cultural opportunities that the region offered. Unlike Boston, where the scene is dominated by large cultural institutions with a large donor base, the Merrimack Valley's arts scene typically consists of a more diverse group of smaller and less well-known organizations. So, Evan and Belinda were especially surprised to learn that the Merrimack Valley did not have a permanently endowed Arts Fund dedicated to the support of local cultural organizations. MORE

Peter S. Stamas: Dedicated to Education in Lowell for 17 Years

Peter Stamas

Peter’s Passion: Education and civic involvement.
As headmaster of Lowell High School for 17 years, Peter shaped the minds of Lowell’s future leaders and led by example. He believed community services was the way to better our region’s quality of life. More...

Ways to Give

The Community Foundation accepts a wide variety of assets.

Simple cash gifts

The simplest gift is often cash or check. You can also give via our online giving center with a credit card.

Appreciated Securities and Closely Held Stock

A gift of appreciated stock receives an income tax deduction equal to its current market value. There is no capital gain tax when stock is transferred.

Bequests

One of the simplest ways to make a planned gift is to include a statement in your will that a share of your estate shall be distributed to the Community Foundation for the purpose that you name.

Real Estate or Personal Property

A gift of real estate can provide the perfect opportunity to make a substantial gift. Gifts of valuable items like jewelry, antiques, or art can also create charitable legacies and lifetime income. Donors have an option to continue to live in their homes through a Life Estate Contract.

Life Insurance

A donor can deduct insurance premiums by assigning a life insurance policy to the Community Foundation as owner and beneficiary. When the policy is redeemed, a permanent fund is created to support the donor’s charitable goals.

Assets of a Private Foundation

Family or other private foundations can retain all the essential prerogatives of their private foundation while being relieved of regulatory, administrative and excise tax burdens by using a donor advised fund or creating a supporting organization of the Community Foundation.

Strategic Gifts

The community foundation can provide strategic opportunities as you consider the best charitable fund program for you. Benefits can include a substantial tax deduction and other forms of reduced taxes, lifetime income, income for a set period of time, or appreciated assets passed on to your heirs at a low tax basis. We encourage you to discuss them with your accountant, attorney and other advisors. Options for strategic giving include:
  • Charitable Gift Annuities provide tax benefits and income to the donor. It is a simple contract between the community foundation and donor. In exchange for cash, stock or other appreciated property, the foundation agrees to pay lifetime income, based on actuarial tables. Payments can be made on a quarterly or annual basis. The donor receives tax benefits, including an immediate tax deduction. Upon the death of the donors, the remainder goes to an endowment fund created by the donor. Charitable gift annuities are attractive to people because they are easy to understand and simple to create.
  • Charitable Lead Trusts create an opportunity for donors to pass appreciated assets to heirs with substantial estate and gift tax savings. The donor realizes these tax benefits by giving the Community Foundation the beneficial interest of the income for a determined period of time. Then the heirs receive the appreciated assets with no additional capital gain tax liability because taxes were paid at a lower basis at the creation of the trust.
  • Charitable Remainder Trusts are created when cash, securities or real estate is transferred to a trust created by the donor. The trust then pays the donor (or designee) an income for life or for a limited number of years. The remainder is then distributed after death or after a set term to the charitable purposes established by the donor.
  • Through a gift of a Retained Life Estate, a donor can contribute a residence, farm, or land to the Community Foundation with a retained life estate. Donors are able to continue using the property throughout their lifetimes while receiving a tax deduction based on the property’s value. This gift would also lower estate taxes since the property is no longer a part of the donor’s estate.

A Gift from Your Business

Corporate giving and annual charitable projects can be administered through the Community Foundation which provides professional fund management and a positive profile for the company at low cost.

We look forward to discussing charitable giving vehicles with you and your professional advisors. The table below summarizes several options, including the basic fund options:

Giving Vehicle Description Benefits
Community Foundation Fund You make a donation or series of donations to the Community Foundation, and establish terms for how the funds will be distributed; either to designated charities, or at your recommendations, etc. Interest accrued increases the fund’s charitable value.
  • Immediate tax deduction for up to 50% of adjusted gross income for cash contributions
  • Immediate tax deduction for up to 30% of adjusted gross income for long-term appreciated securities
Charitable Gift Annuity Simple contract between you and the community foundation. In exchange for your donation, the foundation agrees to pay you a lifetime income stream determined by actuarial charts. Upon your death or that of your spouse, the remainder goes to an endowment fund created by you for a nonprofit organization or cause.
  • Immediate income tax deduction for value of the gift that will pass to the charity (based on actuarial data)
  • Tax-free income stream helpful for people living on a fixed income
  • Reduced capital gains on gifts of long-term appreciated assets
Charitable Remainder Trust Created when cash, securities or real estate is transferred to a trust. The trust then pays you or your designated beneficiary an income for life or for a specific number of years. The remainder is then distributed according to your wishes.
  • Immediate income tax deduction for value of the gift that will pass to the charity (based on actuarial data)
  • No capital gains or income taxes on trust
  • Income to beneficiaries can be taxable
  • Estate tax reduction for amount that passes to charity
Charitable Lead Trust Creates an opportunity for donors to distribute assets to heirs in a tax-advantaged way. You transfer your assets into a trust, and give the Community Foundation the trust income for a set period of time. At the end of that period, heirs receive the original assets.
  • Heirs benefit from substantial estate and gift tax savings when they receive your assets, including no additional capital gain tax liability, since taxes were paid at a lower basis at the creation of the trust.
  • You are not taxed on income earned by the trust.
  • You receive a federal tax deduction for the value of the income stream passed to the community foundation
Retained Life Estate Contribute property to the Community Foundation and continue using it during your lifetime. At your death, the property is liquidated for charitable purposes
  • Immediate tax deduction based on property value
  • Lowers estate taxes since property is no longer part of the estate

Getting Started Today

Our professional staff and advisors are ready to help you with your charitable giving needs. Contact us today to set up an appointment, or complete the short form below and we will contact you.

Greater Lowell Community Foundation
169 Merrimack Street, 5th Floor
Lowell, Massachusetts 01852-1723
Telephone: (978) 970-1600
Fax: (978) 970-2444



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