LATEST NEWS

Administrative Assistant Position Available

Scholarship Information for 2012 will be available February 23rd.

Anonymous man leaves $10 Million in Estate to Cumberland Community Foundation

30 Years of Giving Report available - Celebrate this milestone with us!

Congratulations to the organizations selected to submit an application for the 2012 grant cycle of the Women's Giving Circle of Cumberland County..

Cultural Arts grants available in the visual & performing arts areas.

Senior Services grants available for projects that promote the welfare of senior citizens.

Women's Giving Circle Scorecard 2011 available

 

 

 

 

 

 

 

(910) 483-4449 info@cumberlandcf.org

308 Green Street
PO Box 2345
Fayetteville, NC 28302

 


Charitable remainder trust

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Planning for the future — for you and your community.

Giving through a Charitable Remainder Trust allows you (and/or your spouse) to receive income for the rest of your life, knowing that whatever remains will benefit your community.

You transfer assets into a trust, and the trust pays you or a beneficiary you designate regular income payments. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust transfer to the community foundation.

You may choose to receive a fixed income or one that changes with market conditions.  Income from the Charitable Remainder Trust you establish may add up to more than interest and dividends you earned from holding the assets. You can use it to supplement your own lifestyle or that of someone other than yourself: a sibling, a dependent parent, a friend, or a former employee. You can start receiving annuity payments immediately, or defer them to increase your charitable income tax deduction.

A portion of the income may be a tax-free return of principal, while some is taxed as ordinary income or capital gains. The amount of annuity paid and the tax deduction received depends on the age of the recipient and the current annuity rate (as established by the Internal Revenue Service).

You can pick one of these options for your Charitable Remainder Trust:

  • Annuity trust pays you a fixed dollar amount.
  • Standard unitrust pays you an amount equal to a fixed percentage of the net fair market of the trust and is recalculated annually.
  • Net income unitrust pays you the lesser of the fixed percentage specified by the trust agreement or actual trust income; some net income unitrusts allow you to make up deficiencies in past years.
  • Flip unitrust is a net income unitrust that converts to a standard unitrust upon a triggering event, such as the sale of an asset used to fund the trust.

Donor Story

There is so much more we’d like you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact Cumberland Community Foundation mary@cumberlandcf.org or 910-483-4449.

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