– Gifts
of appreciated securities (stocks and bonds) may be
used to establish a named fund or add to an existing fund.
Such gifts offer important tax advantages, since their
full fair market value is deductible as a charitable
contribution up to 30% of your adjusted gross income
each year when you itemize deductions. As with gifts
of cash, deduction amounts exceeding this limit may
be carried forward for up to five additional years.
In addition, you do not have to pay federal or state
capital gains taxes on the appreciated portion of the
gift.
– A gift
of real estate is an ideal way to attain a level of
giving you might not have previously considered possible.
By donating real estate, you receive the maximum tax
deduction allowed by law and avoid capital gains tax.
– The
Foundation will consider gifts of personal property.
This type of gift must be discussed individually in
advance.
– For
those whose need for life insurance has decreased,
making a gift of an unneeded policy can be a convenient
and effective way of meeting your charitable goals.
When you transfer ownership and beneficiary status
of a cash value policy to the Community Foundation,
you become eligible for a charitable tax deduction
based on the policy’s
current value. Any premium payments made by you thereafter
will also be deductible as a charitable contribution.
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