Gifts can be made anytime in the form of checks, credit card transactions, fund transfers, securities, insurance or real estate. Gifts of cash, usually made by a check, are the most popular form of charitable giving. Cash gifts are attractive because they are simple to make, immediately effective, and easily directed to the greatest needs. Cash contributions may be deducted up to fifty percent (50%) of the donor's adjusted gross income. Should the gift total exceed this amount for one year, the remaining deduction may be used in succeeding tax years for up to five years. Pledges are welcome over a period up to five years.
Giving Appreciated Assets
Gifts of those assets that have gone up in value since their purchase are particularly attractive to the donor. Consider that:
Sales of stocks, bonds, mutual funds, and real property that have appreciated in value generate a taxable capital gain.
Gifts of appreciated assets are deductible at their full fair market value if they have been held longer than twelve months.
The full fair market value of these assets can be deducted up to thirty (30%) of the donor's adjusted gross income. The donor may elect to qualify for a fifty percent (50%) adjusted gross income ceiling by reducing the value of the gift by the full amount of its appreciation, deducting only what was originally paid for the asset.
Excess deductions can be carried forward into as many as five additional tax years.
Gifts of Stock or Securities
Let your investment firm know that you would like to donate to the account of:
Organization: The Health Foundation, Inc. Address: 230 Jefferson Street/ P.O. Box 667 Contact: Heather Murphy, Executive Director Phone: (336) 838-1949 Email: firstname.lastname@example.org Tax ID #: 561745194
For gifts of property of other ways to give, contact The Health Foundation at (336) 838-1949.
The Health Foundation, Inc. is a 501(c)(3) charitable organization; financial information and a copy of its license are available at the State Solicitation Licensing Branch at 1-888-830-4989. This license is not an endorsement by the state.