By: Weir McBride,
Consultant to the Greene County Community Foundation

Charitable gifts through the Greene County Community Foundation (GREENE CCF) provide a meaningful difference.

Following is a brief introduction to some of the best tax-advantaged methods of charitable giving. The GREENE CCF would be pleased to provide everyone with further information. Also, we urge you to discuss your financial planning situation with a tax, legal or other professional advisor.

Gifts of Cash
Most gifts are in the form of cash, via a check written by donors. If donors itemize for tax purposes, their outright gifts are fully deductible for federal income tax purposes up to 50 percent of their adjusted gross income. If their total gifts should exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years.

Gifts of Stock & Other Marketable Securities
Giving long-term appreciated stocks and other marketable securities, such as bonds or mutual funds, offers a two-fold tax savings. First, donors can avoid paying any long-term capital gains tax on the increase in value of stocks. In addition, they can receive a tax deduction for the full fair market value of the stocks on the date of the gift. For income tax purposes, the value of such gifts are fully deductible up to 30 percent of adjusted gross income, with an additional five-year carry forward.

S Corporation Stock
A provision in the federal Small Business Job Protection Act of 1996 allows the GREENE CCF to be shareholders of S Corporation stocks since 1998. Donors with appreciated stocks in a closely held corporation of large cash reserves may be in the best position for such gifts. Opportunities are often folled by redemption of the S Corporation stocks by the company, their employees or officers.

For detailed information, contact Greene Giving