The Community Foundation is a 501(c)3 public charity, donors receive the most valuable tax benefits available under law for their charitable contributions—for both income and estate tax purposes.
- Gifts of publicly traded securities are generally deductible at 100% of the fair market value, including capital gain, up to 30% of the donor’s adjusted gross income (with a five-year carry forward), while gifts of publicly traded securities to a private foundation are only deductible up to 20% of the donor’s adjusted gross income (with a five year carry forward).
- Gifts of cash are deductible up to 50% of the donor’s adjusted gross income (with a five year carry forward), while gifts of cash to a private foundation are only deductible up to 30% of the donor’s adjusted gross income (with a five year carry forward).
- Gifts of private assets (e.g. real estate, private company stock) are deductible at their fair market value up to 30% of the donor’s adjusted gross income (with a five-year carry forward), while gifts of private assets to a private foundation are only deductible at the contributor’s tax basis up to 20% of the donor’s adjusted gross income (with a five-year carry forward).
- Gifts received through a donor’s estate are generally 100% deductible for estate tax purposes with no limitation.