 Giving Now
Gifts
of Cash: Gifts of cash are deductible against your
gross income and provide a way to lower your tax liability.
The amount of your deduction may vary based on the percentage
of your income.
Gifts
of Real Estate: By making a gift of property you
can avoid capital gains tax while qualifying for a charitable
deduction. Property can be gifted so that you may still
use the real estate during your life or that of a survivor.
Gifts of Insurance: A policy designating the Scleroderma
Foundation as your beneficiary can be deducted against
your tax liability.
Gifts of Securities/Stock: A gift of appreciated securities
held for more than one year may provide significant
benefits to you as a contributor, such as:
- Entitling you to a charitable income tax deduction
for the fair market value of the gifted securities
as of the date of gift.
- Eliminating capital gains tax that would ordinarily
become due if you had sold the appreciated securities
on the open market and donated the proceeds from the
sale to charity.
- Claiming your charitable deduction against up to
30% of your adjusted gross income. Any unused deductions
can be carried forward over the next five years.
- Providing a way to help you to achieve your long-term
financial objective of reducing your income and estate
taxes.
If you have securities that have declined in value
over the years and are interested in donating them to
charity, you may find it more advantageous to sell the
securities first and contribute the proceeds to charity
as opposed to donating the securities outright. This
strategy should allow you to claim a deduction for both
the loss from the sale of the securities as well as
the charitable gift.
If you are considering donating stock that is subject
to a cash merger or tender offer, it's important for
you to note that you will be subject to tax on the capital
gain even though the shares were transferred to us before
the tender offer became effective.
You should always consult with your financial advisor
before initiating a charitable gift arrangement.
The
gifts described above can provide even greater benefits
to you with a plan developed incorporating your estate. |
