- Ways to Make a Difference Today
- Making a charitable gift to the Campaign for North Central Missouri College is an important and very personal decision. The satisfaction of giving comes in knowing that you are investing in the lives of individuals, business and organizations that benefit each day from NCMC’s excellent educational opportunities, training programs and services. Only you can decide when and how to contribute to the Campaign. The following information may be helpful as you consider the various ways to support the Campaign and to benefit from the tax advantages associated with certain types of charitable gifts.
- Arrange to Make a Gift Today
- Gifts of Cash
The advantage of this method is that the actual cost of the gift (to you) is less than the dollar amount of the gift because of the allowable income tax deduction. You can deduct up to 50 percent of your adjusted gross income in the year you make a contribution. Any excess contributions above this percentage may be deducted over a five-year period. Actual savings from the tax deduction on your gift will vary due to your tax rate and other factors. Generally, the higher your tax rate, the greater your savings.
- Matching Gifts
You can double, triple or even quadruple your gift through your employer’s matching gift program. In many cases, all you need to do is complete a form furnished by your employer and forward it to NCMC’s Foundation office. Check with your employer’s Human Resources office for more information.
- Stock and Bonds
If you donate stock that has risen in value and that you’ve held for more than one year, you pay no capital gains tax on the transaction and are entitled to a charitable deduction for the full fair market value of the stock. Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years.
- If you have stock losses, generally you should not contribute the stock, but rather sell the stock yourself to realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction.
- Real Estate
Your gift of real estate may provide an ideal way for you to make a contribution. These gifts may be more advantageous than out-right cash gifts because you can make a larger gift at less cost. If you own property that has increased in value and has been held long enough to qualify as long-term property you receive three benefits: first, you avoid paying capital gains; and second, in most cases your receive a deduction based upon the fair market value of the property and finally remove that asset from your taxable estate.
- If you have property that has decreased in value at the time you are ready to make your gift, you should consider selling the property first and then contributing the proceeds to NCMC’s Foundation. This allows you to receive the deduction for both the capital loss and the charitable gift.