Whether you’ve suffered a loss or simply want to help those who have, TCF offers a variety of ways you can get involved. Supporting families who’ve suffered the loss of a child requires understanding and training that we can help provide.
DONATING TO TCF FOUNDATION
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.
PLEDGE
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.
TCF Foundation provides you the opportunity to help ensure that The Compassionate Friends will always be there.
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.
• 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.
How is giving to TCF Foundation different from giving to TCF?
A donation to TCF can be made in any amount, and that full amount can be used immediately by the organization. These donations are very important to TCF each year. TCF Foundation has been established to accept major gifts of $5,000 or more for placement into an endowment fund from which distributions will be made each year to TCF.
How does TCF Benefit from TCF Foundation?
Each year, TCF Foundation’s Board of Trustees will determine how much the endowment fund should distribute to The Compassionate Friends. The larger the endowment fund’s balance, the larger the distribution TCF will receive each year. A large gift to TCF Foundation’s endowment fund will ensure a steady funding stream for TCF each year, enabling the organization to more effectively plan for programs such as ongoing chapter leadership training. For example, a one-time gift of $20,000 to TCF Foundation would result in an approximate $1,000 distribution to TCF every year following that gift.
Can I donate something other than cash?
Absolutely! TCF Foundation is prepared to receive contributions of stock, insurance, IRA’s, bequests, and property. Please contact TCF’s national office for further information.
Can I specify how my contribution is to be used?
TCF Foundation will accept restricted-use gifts of $20,000 or more provided the use lies within TCF’s mission. The foundation’s Board of Trustees must approve restricted gifts.
Why is the minimum contribution $5,000?
The minimum donation to TCF Foundation was set at $5,000 to encourage members and friends of TCF to continue their present level of giving to TCF while considering, in addition, an exceptional—perhaps one-time—gift to TCF Foundation that will have lasting value. Such gifts may include appreciated assets and securities, insurance policies no longer needed, or estate planning initiatives. The trustees may occasionally open the fund to lower minimum gifts.
May I pledge future gifts to the endowment fund?
Yes, pledges to be paid over a maximum of three years are welcome. Thus, a donor may reach the $5,000 minimum gift amount by pledging $1,700 for each of the next three years ($5,100 total).