Charitable Remainder Trusts

Giving through a Charitable Remainder Trust allows the donor to receive income for the rest of his or her life, with the remainder at death being placed into a charitable fund.

Cash, property, or other assets are used to fund the trust. The trust pays the donor, or a designated beneficiary, regular income payments for life. The donor receives an immediate tax deduction for the present value of the gift in the year the gift is made. The remainder of the trust that transfers to the Community Foundation after the donor’s death is placed in an endowment that provides annual grants in accordance with the donor’s interests.

A charitable remainder trust is particularly useful for people who own securities or real estate that have increased in value but earn little income, since the assets—once placed in the trust—can be sold and reinvested free of capital gains tax.

Gregory-Pruett Charitable Remainder Unitrust
This Unitrust, established by the Gregory-Pruett Family, will endow scholarship funds at Mendocino Community College and designated universities, and provide support for hospice caregivers, leadership development, and projects at the discretion of The Community Foundation. This fund was created to support diverse entities that make Mendocino County an exceptional place to live, work, and raise children.