There are many ways you can contribute to the future of education in our community through the Clark State Foundation. Both the means of giving and designations for your gift are flexible based on the desires of the contributor.
Cash gifts provide the Clark State Foundation with funds for current projects, such as scholarships or equipment, or can be restricted by your designation within Foundation guidelines. Gifts can also be made as a memorial or tribute to an individual, and an acknowledgment is sent to the recipient of family on your behalf. Gifts of cash usually offer the greatest immediate tax savings.
Securities can be one of the most advantageous ways to make a gift. Appreciated securities may qualify for income tax deductions and capital gains savings. The value of the donation for tax purposes is usually the average market value on the date of the transfer to the Foundation.
Your generosity can continue by naming the Foundation as a recipient of a portion of your estate. You can designate a specific amount or a percentage of your adjusted gross estate. Your bequest can result in an estate tax deduction.
Gifts of life insurance provide a means by which a donor may make a major gift. These gifts may be accomplished through the transfer of ownership or the designation of the Foundation as the beneficiary.
Real estate and personal property
Real estate can provide for an immediate gift, fund a trust or arrange for a lifetime occupancy after making a gift.
Life income gift with an income retained
A life income gift allows a portion of the income from the investment to be paid back to you and your spouse regularly for a term of years or for the rest of your lives. The immediate income tax deduction is based on the size of the annual payment and the number and ages of beneficiaries.
Gifts with an income to the Foundation
Gifts generating an income to the Foundation can provide significant income and estate tax benefits. Assets are placed in trust for a period of years, with a specified amount of income being paid to the Foundation each year. Income earned through the trust and paid to the Foundation may qualify for an income tax deduction.
Named funds designated by the donor for special purposes can honor an individual, a family, a business or other donor preference. An endowment may be established for a minimum of $10,000; gifts of any size can be made to an existing Foundation endowment.
For more information regarding deductions allowed under income and estate tax, please consult your tax advisor.