Page 26 - Providence Christian College - Fall 2018

A. mICHAEL kILEDJIAN vice presideNt For
advaNcemeNt
If you have questions about gift planning, I invite you to contact me at 626.696.4058 or mkiledjian@providencecc. edu, or reach out to the
6 tiPs for effective Year-end giving
Tax-Wise Ways to Maximize Your Impact
thank you for your support of Providence christian college, which is making a difference in the lives of so many people! As you consider plans for year-end giving, here are a few tips to ensure your gifts are made properly and in the most tax-effective manner.
1 Pay attention to the timing
To receive a tax deduction on this year’s tax return for gifts of cash, be sure your gift is delivered in person or mailed in an envelope postmarked no later than December 31. For gifts of other assets, be sure documents transferring the gift are delivered and the gift is accepted by December 31.
helpful professionals at 2 Barnabas foundation
directly toll-free at 1.888.448.3040.
Providence Christian College is a member of the Barnabas Foundation.
consider giving non-cash assets for maximum impact & tax benefits
You may be able to take advantage of significant tax benefits by giving non-cash assets, such as stocks, real estate, machinery, or commodities. For appreciated assets — such as publicly traded stock — receive a deduction for fair market value and bypass the capital gain that would have been due if you had sold the asset. Real estate that has increased in value is a particularly excellent asset to use for charitable giving. Many people give a portion of their real estate prior to a sale. By doing so, they can bypass the capital gain on
that portion of the property and receive a charitable deduction for the portion gifted.
3 take advantage of tax-free distributions from your ira
If you are 701⁄2 or older, you can take advantage of the IRA Charitable Rollover. This special provision allows you to make tax-free distributions from your individual retirement accounts to charity, up to a maximum of $100,000 per
year. Gifts made through the IRA Charitable Rollover count toward
your annual required minimum distribution and none of the IRA
distribution will be included in your adjusted gross income.
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