Madison Community Foundation accepts a wide variety of assets to start a new endowment fund or add to an existing fund, whether you want to make gifts now - during your lifetime - or through your will or estate plan.
MCF can accept gifts made using checks, credit cards, and monthly contributions from a savings or checking account through an electronic funds transfer. Checks may be made payable to Madison Community Foundation, with the name of the fund included in the memo field. Checks should be mailed to: Madison Community Foundation, 111 N. Fairchild Street, Suite 260, Madison, WI 53703. For an electronic funds transfer, we can easily set that up for you - simply download the EFT Form [PDF] to print, complete, and return the form via mail or fax (608-232-1772).
Giving appreciated securities and mutual fund shares offers an immediate charitable deduction for the full fair market value of the donated assets (subject to any limitations based on your adjusted gross income). You also will not have to pay any capital gains tax on the appreciation for donated securities. Please contact Harmony Kronick, Senior Operations Director, or Carmen Jeschke, Vice President of Finance & Operations for instructions to provide your broker if you wish to contribute shares of publicly traded stock or mutual funds.
New Stock Delivery (DTC) and Cash Wire Instructions In Effect as of February 22, 2022
Instructions for stock delivery and cash wires changed effective 2/22/22. Please contact Harmony Kronick, Senior Operations Director, or Carmen Jeschke, Vice President of Finance & Operations for the updated instructions.
As a reminder, you must notify MCF prior to transferring securities or wiring cash so we can ensure your gift is accepted by our financial institution. This is especially important during the transition so we can verify that you and your advisor have the correct instructions for delivery. If we are not able to advise the financial institution in advance, the transfer may be rejected.
MCF may accept gifts of closely held business interests on a case-by-case basis.
If you are 70½ or older, you are eligible to make charitable gifts directly from your individual retirement account (IRA). These gifts satisfy your required minimum distribution (RMD) for the year and reduce your taxable income, all while allowing you to give pretax dollars to charity.
Benefits of making a qualified charitable distribution from your IRA include:
- Satisfy your required minimum distribution
- Reduce your taxable income / avoid taxes on transfers up to $100,000/year
- Avoid the 50% deduction limit on charitable gifts
- Provide permanent support for the causes you care about – give to an agency endowment, field of interest fund or MCF’s Community Impact Fund
Learn more about how you can Make a Gift From Your IRA [PDF] in our qualified charitable distribution fact sheet.
Life insurance is one of the easiest ways to leave a legacy. If the policy premiums are complete, simply name Madison Community Foundation as beneficiary. If premium payments are needed, you may assign your insurance policy to MCF and continue to make annual, tax-deductible contributions to cover the premium.
When making your beneficiary designation, use the following:
Legal Name: Madison Community Foundation
Tax ID: 39-6038248
MCF will consider gifts of real estate after proper due diligence. We will work with you and your advisors to assess the feasibility of any property gifts you are considering, now or through your estate plan.
Any real estate considered must have a reasonable expectation of being sold within a year, and must not jeopardize MCF’s nonprofit status or expose it to expenses. A gift of real estate you have owned for more than one year may entitle you to a tax deduction for the full fair market value of the property while allowing you to avoid capital gains taxes.
Naming MCF as beneficiary of your Individual Retirement Account (IRA), 401(k) or 403(b) is an economical alternative to family beneficiaries due to the taxes incurred by individual recipients. Completing a Legacy Gift Statement of Intent [PDF] allows you to designate where you would like the assets to go, and the impact you want your gift to have.
When making your beneficiary designation, use the following:
Legal Name: Madison Community Foundation
Tax ID: 39-6038248
A charitable gift annuity (CGA) allows you to make a tax-deductible gift today and receive a guaranteed income for your lifetime and the lifetime of another, if you choose. Annuity payments may begin immediately or be deferred. The remainder of the CGA is used to benefit an endowment of the donor’s choice.
Download a CGA Fact Sheet [PDF]
See how CGAs have helped this fundholder do more than she thought possible [video].
Naming MCF as a beneficiary in your will allows you to leave a legacy of support for your charitable interests while retaining complete control of your assets during your lifetime. You can make a bequest of a specific dollar amount, a percentage of your estate or the remainder of your estate after bequests to your family members are satisfied.
When making your beneficiary designation, use the following:
Legal Name: Madison Community Foundation
Tax ID: 39-6038248
Use this sample text [PDF] when including Madison Community Foundation in your will or estate plan.