Donations to the Zonta Foundation of Corvallis
The Benefits… There are many potential benefits to donors based on their particular economic situation and the nature of the gift.
Income Tax Deduction – For those who itemize deductions on their federal income tax return, an outright charitable gift is an income tax deduction.
Capital Gains Tax – Avoidance In some situations, individuals who wish to gift property which is otherwise to be sold, has been held for more than a year and is worth more than its cost basis, may be able to avoid capital gains tax. This method combined with the savings to the income tax deduction may further reduce the net cost of the gift to the donor.
Federal Estate Tax Reduction – This reduction may not be a direct benefit to the donor; a gift made now may reduce future value of an estate, thereby reducing the federal estate tax that may be due when the donor’s heirs inherit the estate.
The Most Effective Gift to the Zonta Service Foundation of Corvallis
An outright gift allows the donor an opportunity to participate in the important service work Zonta does on behalf of our local and international community. A gift can be made in your name, in honor of another individual to recognize an organization, or it can be done anonymously.
In order to make sure your gift is given in compliance with all state and federal laws, we strongly advise you to secure appropriate legal and financial consultation prior to making a gift.
One of our Board members would be happy to assist you in making an outright gift to further the service work of Zonta.
This information presented here is not intended as legal advice. For legal advice, please consult an attorney.
Type of Gifts…
There are a wide variety of gifts which a donor may give the foundation.
Cash Gifts by Check – One of the most common methods is to make a contribution. This method potentially offers income tax savings and provides the foundation with immediate financial support. However, this may or may not be the most cost-effective method depending on the tax situation of the individual donor.
Gift of Marketable Securities – Securities, which are marketable, have been held for more than one year and have appreciated in value are also frequently given as a charitable gift.
Gifts of Closely Held Stock – The sole owner of a closely held corporation may find this to be an extremely effective method of gifting a charitable organization. Similar opportunities may exist for a major stockholder to reduce ownership without incurring capital gains.
Gifts of Real Estate – Developed land or undeveloped properties when donated to an organization such as the Zonta Foundation are typically deductible at current fair market value.
Life Insurance – Life insurance policies can be given to an appropriate organization as either a deferred or outright gift.
Gifts of Tangible Personal Property – Gifts of personal property (art objects, antiques, etc.) can be donated to the foundation. If it is to be utilized by the foundation in a way related to the normal exempt status of the organization it can be deducted at its fair market value. However, if it is to be sold by the foundation, it can only be deducted at the donor’s cost rate.
WE WELCOME YOUR DONATION