Outright gifts:

• Are simple to make
• Fulfill an immediate need at the Library Company
• Provide a 100% charitable deduction in the current tax year

 

Deferred gifts:

• Often require professional assistance to set up
• Can provide you or a loved one income for life at rates much better than on the open market
• Can provide considerable tax benefits
• Can preserve cash flow
• Provide for the long-term stability of the Library Company

 

Examples of Assets to give:

• Cash
• Appreciated securities. Your gift of listed stocks, bonds, or other publicly traded securities entitles you to a charitable income tax deduction equal to the full fair market value of the securities on the date of the gift, provided you have owned the securities for more than one year. You do not incur capital gains tax on the transfer.
• Real estate. An outright gift of unencumbered real estate may enable you to make a significant gift to the Library Company without incurring capital gains tax on the transfer of a highly appreciated asset. A gift of an interest in real property to the Library Company will entitle you to a charitable income tax deduction equal to the fair market value of the interest in the property on the date of the transfer, provided you have owned the property for more than one year.
• Personal property such as art objects or collections of books, manuscripts, prints or photographs. If the Library Company can and is expected to use your gift of such property toward the furtherance of its mission and you have owned the property for more than one year, you will be eligible for a fair market value charitable income tax deduction without having the recognize the capital gain on any appreciation.
• Life Insurance. Your gift of a life insurance policy will generate a charitable income tax deduction roughly equal to the cash surrender value of the policy on the date of the gift. The Library Company will credit you with a gift equal to the cash surrender value in the life insurance policy.

 

Life-Income gifts:

• Can be made as annuities
• Can be made as trusts
• Can provide you one of the most significant tax benefits available from the IRS