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Tax-advantaged Giving
There are tax advantages to making your charitable gifts through a community foundation such as The Greater Cincinnati Foundation (GCF). GCF is a 501(c)(3) public charity, so donors receive the most favorable treatment for income tax charitable deductions resulting from their contributions: Donors making a gift to GCF may offset up to 50% of their adjusted gross income (AGI) for a gift of cash. (In contrast, a cash gift made to a private foundation may offset only 30% of AGI.)
- The full fair market value of long-term capital gain property (such as appreciated securities) is deductible from income up to a 30% cap. (A similar gift made to a private foundation may offset only 20% of the donor’s AGI.)
- There are no capital gains taxes on gifts of appreciated property.
- Any estate taxes that might be assessed if the property remained in your taxable estate are reduced.
There are other considerations when choosing a charitable giving option. More … |
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