Ways to Give

There are many ways an individual can give back to our community. Below are a few ideas. Please refer to the Individual Giving Model for additional information.

• Life Insurance
  By designating a nonprofit as the beneficiary of a new or existing life insurance contract, you can make a significantly larger charitable gift than may be possible out of your current assets.
• Real Estate
  You can make outright gifts of real estate to a charity. If you have owned the donated property for at least one year, both you and the charity can avoid paying capital gains taxes on the appreciation in the value of the property. Outright gifts of real estate will often result in an income tax deduction equal to the fair market value of the property, as determined by appraisal, but there are some situations where this may be reduced.
• Personal Property
  Personal property, such as artwork, cars, clothing and jewelry, can be given to charity. However, unless the charity will actually use the property in connection with its stated mission, you can deduct only your cost basis, not the fair market value, of the property. Always ask how your gift will be used. If the property has depreciated in value from the original cost (typically the case with cars and clothing), then the deduction will be at its current value.