Stock and Mutual Funds
Many donors have been very generous to The Gordie Foundation through the gifting of stock. Gifting stock that has appreciated in value over more than one year may provide greater tax benefits than gifting cash. The charitable income tax deduction is equal to the fair market value of the stock and you can avoid paying capital gains tax on the increase in the current value over the original cost of the stock. Brokerage fees may also be avoided as this would be a transfer and not a sale.
Charitable Gift Annuities
Charitable gift annuities provide fixed annual payments for the lifetime of the annuitant. Annuity rates range from 5% to 12% depending on the age of the annuitant(s). You can also defer the annual payments to a later date specified at the time the gift is made. The deferral results in a higher annuity rate.
Charitable Trusts
Charitable Remainder Trusts are a popular way to make a donation of cash, stock, real estate or other assets and receive income in return. A donation of cash, stock, real estate or other assets remain invested and continue to produce income for the donor. The donor is allowed to claim a charitable income tax deduction for the value of the asset donated to The Gordie Foundation.
Please discuss details of any donation with your tax advisor.