Depository Information

Click Here to Download the Depository Enrollment Form

The Depository in Brief

In many ways the Depository works like a charitable checking account. Deposits, usually in the form of appreciated marketable securities, are immediately converted into cash. Net funds are then held until the donor directs the Depository to distribute the funds to IRS-recognized charities.

STREAMLINE YOUR CHARITABLE GIVING AND SUPPORT ORGANIZATIONS OF YOUR CHOICE

Tax Advantages

Using CFCI’s Depository allows you to avoid capital gains on your appreciated stock. You have, therefore, increased your charitable giving over what would have been available if you had sold the stock yourself and distributed the after-tax proceeds directly to your charities.

Control

Utilization of the Depository not only saves you the capital gains tax, but it allows you to time your deduction so that you gain the maximum write-off immediately while retaining control of when the specific donations are made out of your Depository “bank account.” That is because you can “park” the funds in the Depository for years, if you’d like. Distributions to the charities selected by you do not have to be made in the same year that your tax deduction is earned.

Distributions

The Depository is an exceptional vehicle for most types of charitable giving – whether that giving is a once per year contribution or many donations to multiple charities throughout the year or over several years.

While distributions from the Depository are appropriate for most types of charitable giving, Depository distributions may not be used to pay for charitable promotions or events that include the exchange of goods or services (such as raffle tickets, charity golf events, or benefit banquets) and may not be used to satisfy pledges made prior to your deposit of securities or funds.

To request a distribution from an existing depository account please use our distribution form or email us at depository@communityfoundationci.org.

Opening an Account

Opening a Depository account is easier than opening a bank account. It can be done in a matter of minutes in person or over the phone. Just follow these simple steps:

Complete the Depository donor enrollment form.
Work with the stockbroker of your choice to facilitate your gift of stock or mutual fund to the Depository.
To make a stock donation in certificate form, please follow these steps:
- To donate stock certificates, you must visit the Commerce Brokerage Services office at 416 Main Street in downtown Peoria. For more information, please call Commerce at (309) 999-3363.
- Notify them that you wish to make a donation of stock for deposit into your Depository account.
- Bring along your stock certificate(s) and photo ID for verification purposes.
- Notify us of your gift of stock or mutual fund to the Depository.

For further information about the Depository, please contact the Community Foundation of Central Illinois office by calling (309) 674-8730, or email us at depository@communityfoundationci.org.