Complex Gifts Made Simple
“With many options for giving, the Community Foundation of Greater Dubuque and its affiliates make it easy to invest in the people, places and causes you care about,” says Amy Manternach, Vice President of Finance & Philanthropic Services at the Community Foundation. Following are four strategies for supporting your community.
• Gifts of Grain Donate grain to avoid including the sale of the grain in farm income. Deducting the cost of growing the crops typically results in saving self-employment, federal and state income tax. You’ll benefit even if taking the standard deduction.
• Gifts of Farmland Making a charitable gift of real estate can help turn your property gains into community good. With the help of your community foundation, you can use your land to fulfill your charitable interests and receive financial and tax benefits.
• Appreciated Securities Your gift of stock can be reinvested in your community, and it qualifies for an immediate tax deduction based on fair market value. Donating appreciated assets also allows you to avoid capital gains taxes that would have been due upon sale.
• Endow Iowa An endowed gift to the Community Foundation will cost you far less thanks to the generous Endow Iowa 25% State Tax Credit. Gifts to endowment funds are invested and pay out in perpetuity to support the needs of your community. Various types of gifts qualify for the credit, including grain, livestock and appreciated assets.