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Gifts of Cash by Check or Credit Card

Your actual “cost” may be less than the dollar amount of the gift if you itemize deductions on your tax return. You can deduct up to 50 percent of your adjusted gross income in the year you make a contribution. Any excess contributions above this percentage may be deducted over a five-year period.

or Print a Contribution Form [PDF]

Matching Gifts

Matching gifts can double the impact of your gift! Many employers sponsor matching gift programs and will match charitable contributions made by their employees. Some companies also match gifts made by spouses and/or retirees. In many cases, all you need to do is complete a form furnished by your employer and forward it to Â鶹Íø Foundation office. Check with your employer’s human resources office for more information.

Stock and Bonds

Gifts of appreciated stock held for more than one year require no capital gains on the transaction. If you itemize deductions on your taxes, you would be entitled to a charitable deduction for the full fair market value of the stock. Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years.

If you have stock losses, generally you should not contribute the stock. Sell the stock yourself to realize the loss for tax purposes, then contribute the cash and take a charitable deduction.

Real Estate

First, you avoid paying capital gains on the transaction; second, in most cases you receive a deduction based on the fair market value of the property; and third, you remove the asset from your taxable estate.

These gifts may be more advantageous than out-right cash gifts because you can make a larger gift at less cost, assuming you own the property that has increased in value and it has been held long enough to qualify as long-term property.

If you have property that has decreased in value, you should consider selling the property first and then contributing the proceeds to the Â鶹Íø Foundation. This allows you to receive the deduction for both the capital loss and the charitable gift.

Your Will

Leaving a gift to charity in your will may significantly reduce the estate tax burden on your heirs. You also influence the future and build a bridge to coming generations.

One way to make a deferred gift is to include specific language in your will naming the Â鶹Íø Foundation as the recipient of your planned gift. Your will can include gifts in the following forms:

• Cash, stocks, bonds, real estate or personal property;
• A percentage of your estate; and/or
• The residue of your estate-property remaining after other bequests have been fulfilled.

Gift of Life Insurance

You can make a substantial deferred gift while you pay relatively modest premium payments. This type of gift will not be delayed during the administrative process of your estate and proceeds for the policy can be paid promptly to the Foundation.

A gift of a fully paid insurance policy may be advantageous if your family responsibilities are no longer as substantial as they were in the past.

You will receive a charitable deduction in your estate if Â鶹Íø Foundation is the beneficiary. A reminder that if you are the owner of the policy when you die, it is counted as an asset of your estate and is subject to estate taxes.

Please ask your life insurance agent for further details on the numerous types of insurance gifts you can make.

Retirement Savings

By donating retirement assets, those funds avoid estate and income taxes and you can be certain that 100% of your retirement funds support your philanthropic objectives. You may also use these assets before you die to fund a deferred gift that pays a life income to yourself.

Be sure to contact the administrator in charge of your IRA, profit sharing account, or other retirement plan to list the Â鶹Íø Foundation as the beneficiary.

As a reminder on retirement accounts, they are taxed at the personal level and may also be taxed at the estate level.

Charitable Gift Annuities

Charitable gift annuities allow you to give the Â鶹Íø Foundation a gift of money, stocks, bonds, or other liquid assets and the Foundation will pay you, the beneficiary, a fixed amount on a regular basis until death. A large part of this income is tax-free and you also receive a charitable deduction for part of the gift.

This is appropriate for gifts in the $5,000 to $50,000 range.

Charitable Remainder Trust

By designating a specific amount of money to a qualifying trust, it provides income to you (and your spouse) for life or a specific time period; thereafter, the principal will be paid to the Â鶹Íø Foundation.

These trusts, which are generally described as charitable remainder trusts, assure you income while providing an immediate charitable deduction from the remainder of the interest which will ultimately be paid to the Foundation.

Charitable remainder trusts do not pay capital gains tax therefore making them ideal for stocks or property with a low cost basis but high appreciated value.

Retained Life Estate

A gift of real estate offers you the opportunity to make a significant charitable contribution with a tax-friendly outcome. If you deed property (a house, summer home, farm, etc.) to the Â鶹Íø Foundation, you and/or your spouse retain the right to live in the house for the remainder of your life. You also receive an immediate income tax deduction for the gift. The Foundation will most likely sell the property when you and/or your spouse no longer need it.