The Jazz Arts Group of Columbus Fund and The Ray Eubanks Endowment Fund

In December 2002, the Board of Trustees of the Jazz Arts Group established two endowment funds, The Jazz Arts Group of Columbus Fund and the Ray Eubanks Endowment Fund of The Columbus Foundation. The Jazz Arts Group of Columbus Fund is designed to assure the long-term support of America's oldest jazz presenting organization. The Ray Eubanks Endowment Fund is in tribute to Ray's successes, passion, and innovation during his tenure as Artistic Director of the Jazz Arts Group. These endowments will provide the cornerstone for permanent enhancement of the Jazz Arts Group's programs and achievements.

Friends of Ray and the Jazz Arts Group can continue to build these endowments through contributions, including outright, deferred and planned giving.

Outright charitable gifts can be made through a variety of property and methods, such as Cash, Securities, Real Estate, and Corporate Matching Gifts.

  • Cash: Simple and direct method that qualifies for deduction on federal income tax return for those who itemize deductions.
  • Securities: Gifts of appreciated, long-term, marketable securities provide for a federal income tax deduction for the fair market value of the stock. Two benefits occur from appreciation. For the donor, there is no capital gain tax because this is a charitable gift, not a sale of the stock. For JAG, this appreciation value is part of the proceeds when the stock is sold and is not taxable to JAG. Mutual funds and closely-held stock may also be gifted.
  • Real Estate: When appreciated real estate held long-term is gifted, the deduction is the fair market value of the property and capital gains tax is avoided. Gifts of remainder interests provide immediate tax benefits, while permitting the donor to occupy the premises during lifetime.
  • Corporate Matching Gifts: Many businesses have matching programs for gifts by employees. We are pleased to complete and submit required forms to enhance your gift.



Deferred and planned giving are flexible and popular vehicles. Deferred giving arrangements include life income plans that provide income and tax benefits during lifetime while benefiting JAG upon death. Planned giving allows a donor to meet current income needs and provide for family, yet support JAG upon death. Deferred and planned giving vehicles include: Charitable Gift Annuities (CGA), Charitable Remainder Trust (CRT), Charitable Lead Trust (CLT), Life Insurance, Retirement Plan Assets, and Charitable Bequest.

  • Charitable Gift Annuity (CGA): A contract in which cash or other assets are transferred to The Columbus Foundation in exchange for its promise to pay an annuity or fixed income for life to one or two individuals. Benefits to the donor include increased spendable income, reduced income taxes, diminished capital gain taxes, and a reduction of the taxable estate.
  • Charitable Remainder Trust (CRT): A tax exempt, irrevocable trust that makes payments to one or more individual income beneficiaries for life or a term of years not to exceed 20 years with the remainder passing to one or more charities. A CRT can be funded with cash, appreciated securities, real estate, or retirement plan assets. The donor receives an immediate income tax deduction if funded during lifetime or an estate tax deduction if funded at death. A CRT can be either an annuity trust that pays a fixed dollar amount annually or an unitrust that pays an income based on a percentage of trust assets as revalued annually.
  • Charitable Lead Trust (CLT): This trust is essentially the opposite of a CRT. The CLT makes payments from the trust to the charities designated by the donor for a term of years or for the lifetime of an individual, and then returns the principal to named individuals.
  • Life Insurance: Owners of whole life and term life insurance may name JAG as a beneficiary of all or part of the policy and/or transfer ownership of the policy. Life insurance gifts permit an individual to make a substantial deferred gift with relatively modest annual premium costs.
  • Retirement Plan Assets: IRAs and other qualified retirement plans are subject to income tax and estate tax when distributed to heirs. This can be avoided by using retirement plan assets to fund charitable gifts and leaving other assets to family members.
  • Charitable Bequest: The most simple, direct and popular way is a gift under a will or trust. This method allows anyone the leave a lasting legacy. The bequest can be of a specific amount, percentage, or residue of the estate. The donor retains full use and enjoyment of the assets during life, while the donor's estate may be entitled to an estate tax charitable deduction.