Personalized Giving Through NDCF
You are considering making a gift, perhaps a significant one, to make the world a better place. Thank you, first and foremost, for looking into charitable giving and using your resources to help others.
NDCF is here to assist you with all the details that will follow from that initial philanthropic thought – who do you want to help? Now or in the future? What are the tax implications of the gift for you and the receiver? Do you want to make one large gift or many gifts over the years?
NDCF offers hundreds of charitable funds that benefit North Dakota citizens and their communities. We also create new funds based on our donors’ specific interests to benefit the causes and programs that are close to their heart. If you’d like to see if one of our existing funds fulfills your aim, please contact us.
Or, if you are just starting out on your philanthropic journey, the questions below can help your general philanthropic idea take a more specific shape.
As always, our staff is more than willing to sit down with you – over the phone or at your kitchen table – to discuss your options and help you determine the best way to accomplish what you wish.
Things to Consider as you Ponder a Philanthropic Gift:
What are your charitable priorities?
Charitable interests. You may have a single charitable interest—an important cause or organization. Or you may have several, or a desire to explore new community needs and opportunities as they arise. Consider the specific charitable interests that you’d like to pursue.
- Your hometown
- Your faith organization
- Arts and culture
- The elderly or senior citizens
- The homeless
- Your Alma Mater
- The environment
- Other: _______________________
Impact. What kind of impact do you hope to make with your charitable gift?
- Solve specific, current, critical needs
- Help the largest number of people possible
- Make a significant difference in the lives of a few
- Support operations of specific nonprofit organization(s)
- Address long-term, systemic social issues
- Other: _________________________
Duration. Should your gift last forever? You can endow your gift so that a portion of earnings is spent and the gift remains a permanent resource for the projects and programs you wish to support. Gifts to a qualified North Dakota endowment fund are eligible for a 40% state tax credit in addition to the Federal charitable income tax deduction. Or, you can choose to spend all of your charitable assets in a short timeframe. What is your preferred timetable?
- Give all direct gifts with no endowment
- Give some direct gifts and endow some
- Give only endowed gifts
- Spend down gift over time
What are your financial goals?
Assets and taxes. Most large gifts present the opportunity for significant tax deductions. Some people choose to give during high-income years to defray their taxes with deductions. You may wish to donate appreciated securities or real estate to avoid taxes on the sale of these assets. And, charitable bequests can play a role in estate planning for your heirs. NDCF can accept a large variety of gifts to benefit the community, organizations, or areas of your choice. Your professional advisor can help you assess the financial and tax implications of giving the following kinds of assets:
- Retirement savings
- Appreciated securities
- Closely held stock or business assets
- Real estate
- Life insurance
- Fine art
- Other assets: _______________________
Timing. Maybe you would like to start giving now, so you can get involved or potentially see the results of your gift. Or perhaps you’d like to give through your estate. Many donors do a combination of these. What is your timing preference?
- Give all gifts during lifetime
- Gift some lifetime gifts; some after death
- Give all gifts after death
Income. Some people choose to give in a way that provides them—or a loved one—a stream of income for life. Your professional advisor can help you select a giving vehicle that suits your time horizons, tolerance of risk, and income requirements. Are you interested in any of these possibilities?
- Predictable lifetime income for you and/ spouse
- Maximum lifetime income for you and/ spouse
- Provide income to charity during your lifetime
What are your personal preferences?
Ownership. Is substantial management over assets you give to charity important to you? Some people aren’t comfortable without it. Others are glad to let go, once they’ve made some guiding decisions. NDCF has a variety of charitable vehicles – some put you in the driver’s seat for the duration of your gift and others let you point the car in the right direction and then take a nap in the backseat. Which of these options would you consider?
- Our Statewide Greatest Needs Fund, to provide grants every year to the projects and programs in North Dakota that need the most help
- A community endowment fund for a specific town
- A grantmaking fund for a specific field (e.g., arts, education, basic needs, environment)
- An unrestricted gift to a specific charity or its endowment
- A restricted gift to a specific charity
- A donor advised fund in which you advise on grants annually
Involvement. Do you want to play an active role in your giving, selecting recipients of your gift for years to come? Would you like to involve your children or grandchildren? Or would you prefer to make one-time gifts with no future demands on your time?
- No personal involvement after gift is made
- Personal involvement during your lifetime
- Future involvement of children or grandchildren
Recognition. Some people like a tasteful level of recognition for their good work. It attracts attention to their cause, generates awareness, and may inspire others to give. Some people prefer anonymity. What level of recognition do you prefer?
- Lasting recognition (name on a fund, foundation, building, or permanent structure)
- Public recognition (name in public announcement or media coverage)
- Simple recognition (personal thank you and name listed in annual report or newsletter)
- Anonymity to the general public
- Anonymity to benefitting charities
After you've reviewed this list, give us a call at 701-222-8349. We will help you make North Dakota an even better place to live.