The GSFCF is not a place to give money, but rather a method of giving money.

Donor Options

What types of funds can be created at the Greater South Fork Community Foundation?

• Undesignated Funds provide money that is awarded in grants by the Foundation's Board of Directors. An undesignated donation is ideal for those who want to leave a legacy that will benefit many concerns within our community.

• Field of Interest Funds are tied to a general area of interest and not to a specific organization. We use your suggestions and other criteria to select grant recipients.

• Donor-Advised Funds allow you to suggest what charitable cause should receive money, upon approval of the Foundation's Board of Directors ($10,000 minimum).

• Designated Funds allow donors to designate payment at the time of the gift to a specific project. An individual or organization with a donation of $10,000 or more may set up a designated fund.

Remember-we encourage gifts of all sizes. You can make your own meaningful contribution by giving to the Foundation's Undesignated or Designated Funds.

To make a contribution, call, write or e-mail the Foundation or visit with your attorney or financial advisor for additional information. You can make a contribution in the following ways:

• Outright Gifts are a simple, convenient way to donate and receive maximum tax advantages. Money, securities, personal property and real property are the usual gifts.

• Bequests of cash or property through a will are usually fully deductible for federal and state tax purposes. The Foundation also can be named as the residuary beneficiary of a donor's estate, or be named in a charitable remainder trust.

• Life Insurance, with the Foundation as the irrevocable beneficiary of a life insurance policy, allows donors an immediate tax decuction in the amount of the cash value of the policy. Insurance premiums paid thereafter by the donor are deductible as a charitable gift.

• Memorials made in memory of deceased persons or in honor of living persons are generous testimonials. Creation of a memorial fund in the GSFCF also can be a means of achieving permanent memorialization.

• Charitable Lead Trusts name the Foundation as the beneficiary of income from a trust for a specific number of years. The corpus, or bulk of the trust, eventually goes to other named beneficiaries, such as children or granchildren.

• Charitable Remainder Trusts enable the donor to provide a lifetime income to themselves or beneficiaries and leave the remainder of the estate to the Foundation.