Gifts Of Cash – The Simplest and Fastest
The simplest and fastest way to make a charitable gift is to give cash, usually by personal check. Outright gifts of cash are fully deductible in the year of the gift (for those that itemize) to the extent of 50% of adjusted gross income. Unused portions may be carried over for up to 5 additional years.
Any current donor who would like to make automatic contributions to an endowment fund on a periodic basis (monthly, quarterly, annually) may do so by downloading and completing our Bank Draft Enrollment Form.
Gifts Of Securities – An Added Advantage
There is an added advantage when donating stocks and bonds that have appreciated in value and have been owned for more than one year. Generally, when an owner sells securities, there is a capital gain tax due on the amount that the securities have increased in value over the original purchase price. The amount of the tax is based on the donor’s federal income tax bracket. By donating appreciated securities to charity and allowing the charity to sell them, the capital gain tax is avoided. Gifts of appreciated securities are fully deductible in the year of the gift to the extent of 30% of adjusted gross income. For securities that have lost value, the donor should sell the asset and then donate the net proceeds, because the donor can then claim a capital loss.