As a community foundation, we are uniquely positioned to help donors contribute assets to help address community needs – and we have the expertise to help you understand and utilize tax incentives that will help your gift achieve the greatest value. Whether you’re writing a simple check – or donating a more complicated asset – our team can help you make your gift safely and securely.
For a one-on-one consultation, please contact Dan Flynn, 410-730-7840 x8.
Donors most often make a “cash” gift in the form of a check payable to the Community Foundation of Howard County (CFHoCo). Cash gifts enable donors to claim a current income tax deduction of up to 50 percent of their adjusted gross income in the year the gift was made.
Please make checks payable to “Community Foundation of Howard County" and mail to:
Community Foundation of Howard County
6680 Martin Road
Columbia, MD 21044
Please designate on the memo portion of the check the name of the CFHoCo fund your gift is intended to support. For a complete list of CFHoCo funds click here.
The Community Foundation of Howard County (CFHoCo) accepts online gifts through our secure platform.
Click here to make an online gift.
CFHoCo uses PayPal to process online/credit card donations. A processing fee will be deducted from your gift.
Many donors give appreciated publicly traded securities as a “tax-smart” way to accomplish their charitable giving goals.
You can transfer appreciated stocks, bonds or mutual fund shares you have owned for one year or more to the Community Foundation of Howard County (CFHoCo), reinvesting in your community and qualifying for an immediate tax deduction based on the full market value of the stocks. CFHoCo also can sell your securities and use the proceeds for its programs.
Please contact the Community Foundation of Howard County via email or call (410) 730-7840 before initiating a transfer. Transfer instructions are available upon request.
Donors receive a double income tax benefit when gifting publicly traded securities.
You can avoid capital gains taxes on the securities’ appreciated value and receive a charitable deduction for the stock’s full market value up to 30 percent of your adjusted gross income.
If you would like to make a gift of publicly traded securities, please contact the Community Foundation of Howard County via email or call (410) 730-7840 to start the process. We’ll be there at every step to help make sure your donation is processed smoothly.
Donors who choose to give a closely held stock are entitled to a deduction for the appraised fair market value of the gift, up to 30 percent of the donor’s Adjusted Gross Income (AGI). Taxes on capital gains also are avoided.
Please note that before closely held stock can be accepted, the Community Foundation of Howard County’s staff and board will review all relevant documentation to obtain a clear understanding of the related business activities, the underlying assets and liabilities, the nature of the ownership interest proposed to be conveyed and the actual or potential liabilities, if any, associated with holding such securities.
Click here for the Community Foundation of Howard County’s Gift and Fund Acceptance Policy.
Mutual funds also can be contributed to the Community Foundation of Howard County (CFHoCo). The value of a share in a mutual fund is its public redemption price (the “bid price”) on the valuation date. Gifts of mutual funds are deductible at their fair market value – up to 30 percent of the donor’s Adjusted Gross Income (AGI).
Please contact CFHoCo via email or call (410) 730-7840 to start the process.
Matching gifts are a great way to double or sometimes even triple the impact of your gift. If you work for (or have retired from) one of the many companies that will match employee donations, you simply need to contact your company’s matching gift office, request a matching gift form and send it with your donation. When we get the form, we will notify your employer, and when your gift is matched, we’ll let you know.
The Community Foundation of Howard County (CFHoCo) established Real Estate Charitable Foundation of Maryland (RECFM) to help donors make real estate gifts.
For many individuals, real estate represents a significant portion of their wealth. A gift of real estate offers an excellent way to unlock the full appraised value of a property and establish a charitable legacy supporting your favorite causes for years to come.
Typically, donors will also establish a donor-advised fund at CFHoCo. At such time as proceeds have been realized from the sale, and all carrying and transfer costs have been met, the funds will be transferred from the RECFM to the Foundation and placed in a donor-advised fund in the donor’s name.
Immediately, you will be able to make grant recommendations from your fund to the causes about which you care.
To initiate consideration of a gift through the Real Estate Charitable Foundation of Maryland, please contact CFHoCo via email or call (410) 730-7840 to start the process.
The Community Foundation of Howard County (CFHoCo) accepts meaningful gifts of tangible property including art, antiques, collectibles, rare books, jewelry, gems and stamp and coin collections.
Just as you should plan for what will happen to your home, finances and businesses in the event of the unexpected, thought should be given as to what will happen to your artwork, collectibles and other prized possessions. Passing it on to your children or donating it to a museum is not always possible or desirable. Instead, these assets may be donated to CFHoCo, which may sell and use the proceeds to add to or create a fund.
All gifts of personal property are subject to review by CFHoCo’s Board of Trustees and an independent appraisal arranged and paid for by the donor. Please note that some restrictions do apply to the tax-deductibility of personal property items.
If you are considering making a gift of personal property to the Community Foundation of Howard County, please contact CFHoCo via email or call (410) 730-7840.
Life insurance provides a simple way for you to give a significant gift to charity and establish your legacy with tax benefits that you can enjoy during your lifetime. By giving a paid-up policy or continuing to pay premiums, you may receive a number of tax benefits, including reduced estate and income taxes. If you choose to continue paying premiums through the Community Foundation of Howard County, you will be entitled to a charitable contributions deduction of up to 50 percent of your adjusted gross income.
One of the simplest and most tax-efficient ways to leave a legacy is to name the Community Foundation of Howard County (CFHoCo) as a beneficiary of all or a percentage of your qualified retirement plan(s). When you leave this asset directly to your heirs, it is a taxable event. But if you designate CFHoCo as your beneficiary, it receives the full value of the asset.
If you choose to make a charitable gift of a retirement plan account, please be sure that the beneficiary forms on file with the plan administrator specify the Community Foundation of Howard County as the beneficiary and that you notify CFHoCo about your plans.
If you already operate a private foundation but are looking to avoid the headache and the cost of managing it, you can convert your foundation into an affiliated fund within the Community Foundation of Howard County (CFHoCo).
There are many advantages, and no risk or obligation involved, in exploring a private foundation conversion. Please contact CFHoCo via email or call (410) 730-7840 to learn more.
You may designate the Community Foundation of Howard County (CFHoCo) as the recipient of a gift made through the United Way.
Make your donation by checking the designation box on your employee United Way designation forms, clearly specifying Community Foundation of Howard County, 6680 Martin Road, Columbia, MD, 21044.
Our United Way of Central Maryland number is 7180.
Please send a copy of your form to CFHoCo to serve as a notification of your plans. Your gift will be acknowledged by United Way for income tax purposes.
Companies are encouraged to sponsor Community Foundation of Howard County (CFHoCo) events, products and services and special initiatives. As a sponsor, your business will be recognized by thousands of people who are passionate about making a difference in our community. You will receive high visibility through our events, publications and website. Please contact CFHoCo via email or call (410) 730-7840 for information about current sponsorship opportunities.
Want to Contribute or Start a Fund?
Consider contributing to an existing Community Foundation of Howard County (CFHoCo) fund or starting your own fund!
Check with your tax advisor or financial advisor to learn how a fund can work for you. Then, give the Community Foundation a call at (410) 730-7840!
IRS Circular 230 Notice:
We advise you to seek your own legal and tax advice in connection with gift and planning matters. The Community Foundation of Howard County does not provide legal or tax advice. Any advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or other matter addressed herein.