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OUTRIGHT GIFTS

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There are many ways in which your gift to Salem can also benefit you.  Below are a few options for creating a permanent legacy while benefiting you.  Feel free to email or call Board Treasurer Harold Fike, CPA, if you have questions or would like additional information: 301.777.9383.

  • CASH
    Cash gifts are of course the most direct. You will receive a receipt for your donation which is deductible according to IRS guidelines.
     

  • STOCK AND RELATED PROPERTIES

            ►Giving stock after it has appreciated offers you a double tax savings: you avoid
         capital gains tax, and you receive a charitable deduction for the appreciated
         value of the stock. Gifts of appreciated stock are fully deductible up to 30% of
         your adjusted gross income.

            ►If your stock has depreciated, you may sell it first and then donate the
         proceeds in cash to Salem, claiming the loss on your tax return PLUS a
         deduction on the donation itself.

         YOUR BROKER OR TRUST OFFICER can help you with making a gift to Salem.
     

  • REAL ESTATE
    A gift of your appreciated home or property could bring you big savings in capital gains taxes in addition to charitable tax deductions. A life estate would allow you to donate your home to Salem yet continue to live in it for your lifetime.

    IF YOU WOULD LIKE TO DONATE REAL ESTATE, please contact the Development Office or the Executive Director (301.689.8176) to discuss taxes, titles, liens, debt or environmental concerns.
     

  • PERSONAL PROPERTY
    Works of art, antiques, rare books, coin collections--almost anything of value--can be donated to the mission of Salem. Personal property gifts are subject to conditions which do not apply to other outright gifts. For example:

            ►To be tax deductible at market value, it must be directly related to the mission
         of Salem.

            ►An artist wishing to donate one of his or her own works may deduct only the
         cost of materials.

            ►Gifts valued at more than $5,000 must be appraised by a qualified appraiser in
         order to receive a charitable income tax deduction.

    BEFORE MAKING SUCH A GIFT, contact the Development Office to discuss details of use, valuation and deductibility.
     

  • IRA DIRECT DONATION
    If you are at least 70 1/2 years old, a new law permits you to donate money directly from an IRA and deduct it from your reported income.
     

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