Ways to Give
Making a donation to the College of the Ouachitas Foundation’s major gifts campaign is an important investment in the community’s future.
There are many ways to contribute to the campaign. The following information may be helpful as you consider various methods to support the college and to benefit from the tax advantages associated with certain types of charitable donations. The College of the Ouachitas Foundation is a 501(c)(3) organization.
Cash contributions are tax deductible as an itemized deduction in the year you make the donation up to a total of 50 percent of your adjusted gross income. Any excess over 50 percent can be deducted over the next five years. Pledges cannot be claimed until the gift is made.
Stocks and Bonds
If you donate stock that has risen in value and that you’ve held for more than one year, you pay no capital gains tax on the transaction and are entitled to a charitable deduction for the full fair market value of the stock. Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years.
If you have stock losses, generally you should not contribute the stock, but rather sell the stock yourself to realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction.
If you own property that is not subject to a mortgage and has appreciated in value, a charitable gift may be an attractive option. You can claim an income tax deduction based upon the fair market value of the property, avoid all capital gains taxes, and remove that asset from your taxable estate.
The Foundation accepts equipment that can be used by the College or can be quickly sold. It is best to contact the Foundation Office to discuss potential equipment before making such a gift.
Works of art, books, and the like, are considered gifts of personal property. Your deduction will depend on the appraised value.
Your will can include gifts in the form of:
a) cash, stocks, bonds, real estate, or personal property
b) a specified percentage of your estate
c) the balance of your estate after the future of family members have been secured
You can make a substantial gift with modest premium payments, or paid-up policies that are no longer needed for family members.
Charitable Remainder Trusts
By transferring assets to the College of the Ouachitas Foundation to establish a trust, you or a beneficiary receive a lifetime income. Eventually, the remaining assets of the trust pass on to the College of the Ouachitas Foundation.
Retained Life Estate
If you deed a house or summer home to the College of the Ouachitas Foundation, you and/or your spouse retain the right to live in the house for the remainder of your life. You receive an immediate income tax deduction for the gift. The Foundation will most likely sell the property when you or your spouse no longer need it.
OTHER THINGS TO CONSIDER
Where to Direct your Gift
The College of the Ouachitas Foundation, Inc. is the official recipient for all gifts to the Changing Lives...Building Futures Campaign. Checks should be made out to the College of the Ouachitas Foundation, Inc. and all property should be transferred to the College of the Ouachitas Foundation, Inc.
Your gift will be used specifically for the purpose(s) you designated and treated with confidentiality, per your instructions.
All gifts to the Changing Lives...Building Futures Campaign qualify for appropriate levels of recognition from the College of the Ouachitas Foundation, Inc.
Consult your Tax Advisors
The information on this page is not offered as legal advice. For legal advice, please contact your tax attorney and tax accountant.