Outright gifts allow you to claim charitable tax deductions for the year in which they are made to Johnson C. Smith University.
Here are some of the outright gifts through which you can support JCSU:
- Real estate
- Personal property
The most common form of giving - cash gifts - are as easy to make as writing a check to Johnson C. Smith University. Every dollar you give outright to JCSU is tax deductible, and cash gifts are vital, since they are immediately available to assist deserving students or programs.
Gifts of publicly traded stocks or appreciated securities are tax deductible at full market value. They also relieve the donor from long-term capital gains tax on the appreciation. This double tax savings makes it possible for a significant gift to be made at a remarkably low after-tax cost. Appreciated securities often represent the most economical way to contribute during one’s lifetime.
Closely Held Stock
Owners of closely held corporations may donate shares of their stock to the university, receive a charitable deduction and retain full control of their business, all without having to claim a stock dividend.
Gifts of appreciated property, such as a farm, personal residence or undeveloped land, are tax deductible at full-market value, and they relieve the donor from capital gains tax on the appreciation.
If your property has a mortgage, it is still possible to give the property to JCSU through a gift process, which involves a "bargain sale." You may also contribute property to the university, receive an immediate income tax deduction and still continue to use the property for as long as you wish through a "life estate."
Many other types of personal property may make excellent charitable gifts to JCSU and generate tax deductions equal to their full market value. These can include items such as:
- Historical collections
- Patents and copyrights
Gifts of personal property of $5,000 or more require a certified appraisal to establish the value of the gift.