Nancy Chase’s story is a familiar one. A generational Nantucketer, Nancy owned several properties on Nantucket which had increased in value over time. Nancy sold one of these properties in 2008, and created a Charitable Remainder Trust which held the proceeds from that sale. This accomplished several things:
- Nancy avoided any capital gains on the sale, which would have been significant;
- She received income from her trust to support her during her lifetime; and
- She supported several Nantucket charities, including the Community Foundation, with the funds from her trust upon her death.
“We established the Taunton Hill Fund with the Community Foundation as a way to support the Nonprofit community on-Island as well as provide invaluable educational opportunities for these community leaders. In the past two years, Margaretta and her team have expertly produced two full-day Nonprofit Leadership Conferences, which emphasized skill-building, collaboration, networking, and leadership. It has been most rewarding to work with the Foundation to see our vision come to life.” Joe and Deidre Smialowski
“When I took a year off from full-time work and was without a regular income stream. My Donor Advised Fund meant I didn’t have to stop or slow down my charitable giving and my philanthropic footprint was still visible on the streets of Nantucket! I could still support the community I call home.” Janet Schulte
Janet donated stock, which had appreciated significantly, to the Community Foundation to create a Donor Advised Fund. She avoided any capital gains on the appreciated value, which left the entire asset available for charitable gifts.
“We chose to invest in the Community Foundation’s Nantucket Fund as a way to support the island our family loves. We know that through a multi-year gift we are able to help the most critical needs on Nantucket today and in the future.”
Ann and Johnny Johnson
Become a Nantucket Fund Sustainer. Donors who commit to a multi-year pledge of $10,000 or more to the Nantucket Fund help ensure that significant grants address those needs that are the greatest, now and in the future.