View suggested language for Bequest Gifts to Owens Community College. (pdf)
Gifts to Owens Community College through current gifts of appreciated property or IRA assets through an IRA rollover are great ways to make current gifts and reduce your taxes.
Gifts of Appreciated Property
Gifts of appreciated real estate or securities (stocks or bonds, for example) are great ways to help Owens Community College while reducing your tax burden. You can use the gift to set up a scholarship fund or support a program at the College.
When you give appreciated property to the Owens Community College Foundation, you can receive a tax deduction for the full fair market value at the time of the gift. If your gift exceeds 30 percent of your adjusted gross income for the year, the unused portion can be carried forward for five years.
Obtain a tax deduction for the full value of the security at the time of the gift without incurring capital gain taxes.
Appreciated Real Estate
If you have owned the property for at least one year, you can deduct the full fair market value and bypass capital gain taxes.
For more information please consult the Owens Community College Gift Acceptance Policy or contact Jennifer Fehnrich, Interim Executive Director of the Owens Community College Foundation at (567) 661-7100.
IRA Rollover Gifts
Individuals over 70 ½ may rollover up to $100,000 annually from your individual retirement accounts (IRAs) to a make a gift to Owens Community College. The gift qualifies for the IRA minimum distribution and could greatly lower tax liability. Gifts must be made directly from your IRA custodian to the Owens Community College Foundation.
If you don’t itemize your deductions, IRA rollover gifts could be very beneficial to you. Taking the minimum IRA distribution can increase your taxable income with no offsetting charitable deduction. With an IRA Rollover Gift to Owens you can help satisfy the minimum distribution requirement, reduce your tax liability and help students!
Please contact Jennifer Fehnrich, Interim Executive Director of the Owens Community College Foundation at (567) 661-7100 for more information or contact your IRA custodian.
For more information, please contact the Foundation Office at (567) 661-7100 or firstname.lastname@example.org.