You love the Winona area.
We love connecting you with causes you care about most.

Gifts through your will or estate can make a lasting impact for generations to come.

Community foundations provide a simple, powerful, and highly personal approach to giving. We offer a variety of giving tools to help people achieve their charitable goals. You can make a gift of cash, stocks, bonds, real estate, or other assets to your community foundation. Most charitable gifts qualify for maximum tax advantage under federal law. We make it easy as experts on philanthropy and wise giving vehicles.

More Information on Planned Giving

Click on content below to learn more. Please note: The Winona Community Foundation does not provide legal, accounting, or tax advice. Each situation is unique and donors are asked to check with their own advisors regarding their personal situation.

A “planned gift” is a gift that will be distributed at some point in the future. The easiest way to make a planned gift is by making a charitable organization as a beneficiary in your Last Will and Testament or in your Trust. The charitable organization can also be named as a beneficiary of a life insurance policy, annuity contract or retirement account.

Everyone should have an estate plan to ensure that their hard-earned assets reach loved ones and organizations held dear. Proper estate planning could reduce or eliminate estate taxes through planned giving.

  1. You include the community foundation in your will as a bequest; we can help you or your attorney with recommended language.
  2. You determine the type of fund you would like to establish with your gift.
  3. Upon your death, we set up a special fund in your name, in the name of your family, or in honor of any person or organization you choose.
  4. Your charitable gift is excluded from your assets for estate tax purposes.
  5. Our professional program staff considers your charitable wishes and determines the areas of community need that would be most impacted by grants from your gift.
  6. Our board issues grants in the name of the fund you establish (if you prefer, grants can be made anonymously).
  7. We handle all the administrative details.
  8. Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift—and all future earnings from your gift—is a permanent source of community capital, helping to do good work forever.
  1. We are a local organization with deep roots in the community.
  2. Our professional program staff has broad expertise regarding community issues and needs.
  3. We provide highly personalized service tailored to each individual’s charitable and financial interests.
  4. Our funds help people invest in the causes they care about most.
  5. We accept a wide variety of assets, and can facilitate even the most complex forms of giving.
  6. We partner with professional advisors to create highly effective approaches to charitable giving.
  7. We offer maximum tax advantage for most gifts under federal law.
  8. We multiply the impact of gift dollars by pooling them with other gifts and grants.
  9. We build endowment funds that benefit the community forever and help create personal legacies.
  10. We are a community leader, convening agencies and coordinating resources to create positive change.

Wondering how a gift might make an impact? Here is one example.

A retirement account is donated to the Winona Community Foundation with a value of $100,000. The Board of Directors establishes an endowment fund with this gift which is invested and grown while earnings are distributed annually based on the Foundation’s endowment spending policy.

Original Gift: $100,000 (tax-free), invested for one year

YEAR 1

  • Total earnings: $7,500 (based on 7.5% return)
  • Distribution available: $5,000
  • Value of Fund after distribution: $102,500

YEAR 5

  • Total earnings: $39,000+
  • Total distributions: $26,000+
  • Value of Fund after distributions: $113,000
Who do the distributions benefit?
  • If there is a specific cause you care about, earnings could be donated to that charity year after year.
  • If you want to contribute to a more flexible program, the earnings could go into the competitive Community Grant program of the Foundation.
Examples at the Winona Community Foundation:
  • A quasi-endowment fund where the first $5,000 of earnings is given to a local charity and any remaining earnings go to the Community Grant Program.
  • A quasi-endowment with a specific purpose (childhood literacy).
  • An endowment fund where heirs direct the earnings from year to year to a charity of their choice.
  • A spend-down fund where $10,000 is directed toward the Community Grant program until the funds are depleted (this fund is estimated to last 20 years).

IMPORTANT: The information provided is intended for illustrative purposes only and are not guaranteed. The illustration should not be relied upon nor deemed as endowment fund advice. The investment projections, outcomes and other information are hypothetical in nature, are based on community foundation investment goals and policies, and do not reflect actual investment results. Results may vary with each use and over time, and they are not guarantees of future results.

STORIES OF PLANNED GIVING
SIMPLE LANGUAGE FOR YOUR WILL
CONTACT US
TAX BENEFITS