There are several ways to give to the Community Foundation of Abilene and structure your permanent endowment fund to help the causes you care about most. Our gift acceptance policy describes the guidelines we use to screen proposed gifts.
Cash and personal checks are the simplest way to give. Cash gifts enable donors to claim a current income-tax deduction of up to 50 percent of their adjusted gross income in the year of the gift with a five-year carry forward.
Donors receive a double income tax benefit when they give publicly traded securities or mutual funds (i.e., securities for which there is a recognized market, such as the NYSE.) These gifts are deductible at their full market value, and the donor avoids capital gains on the stock’s appreciation. Donors can claim a current income tax deduction of up to 30 percent of their adjusted gross income with a five-year carry forward, if required.
We review proposed gifts of closely held stock case by case. If accepted, donors are entitled to a deduction for the appraised fair market value of the gift, up to 30 percent of the donor’s adjusted gross income. Capital gains are also avoided.
Donors may name the Foundation as the owner and beneficiary of existing policies that they no longer need. Donors are entitled to a federal tax deduction for the cash surrender value in the year the gift is made.
Gifts of real estate include homes, farms, ranches, commercial buildings or incoming-producing land. All gifts of real estate will require certain procedural steps, including site visit, environmental assessment and a qualified appraisal. The Foundation accepts real estate on a case-by-case basis.