Outright gifts can include cash, securities, real estate, and life insurance.
Gifts of cash
Cash gifts are fully deductible up to 60% of the donor’s adjusted gross income in any one year. Deduction amounts exceeding this limit may be carried forward for up to five additional years.
Gifts of appreciated securities (bonds and stock, including stock in closely held companies) often provide important tax advantages. Their full fair market value is deductible up to 30% of your adjusted gross income. As with gifts of cash, deduction amounts exceeding this limit may be carried forward for up to five additional years. Another benefit is that you avoid the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as with publicly traded stock.
If you name us as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction, which usually approximates the cash surrender value of the policy. All premium payments you make after that will be deductible as a charitable contribution.