Please consider establishing a planned giving program with our organization. Our federal EIN is 20-3232112.
“I wish I could do more” is the comment we often hear from friends of American Cancer Fund. Planned Giving is a means of making a charitable gift part of a donor’s overall financial, estate, tax and philanthropic planning, maximizing the benefits to both the donor and the charity, and often achieving significant tax savings.
Increasing the impact of your giving often can be achieved at very low cost. It’s just a matter of planning WHAT to give, HOW to give and WHEN to give. The following information illustrates many ways of making a “planned gift” and our staff can be of even more help.
Doing More With Gifts of Stocks and Bonds
Charitable donations can take many forms, from the loose change you drop into a collection basket to carefully planned donations of significant size with important tax and financial implications. Many people, unfortunately, fail to recognize the financial benefits that can come through a contribution of appreciated property, such as stocks, bonds or mutual funds.
When you write a check to make a donation to a charity such as the American Cancer Fund, your donation gives you an income tax deduction. But if you made the same donation with appreciated assets, you receive a double tax benefit. You will get the immediate income tax deduction and avoid the capital gains tax that would be owed if that asset was sold by you.
When you donate stocks, bonds or mutual funds, you receive a tax deduction for the full, current fair market value of the property donated (assuming you have held the property for more than one year). It does not matter that you may have only paid $6,000 several years ago for a stock that is now worth $18,000. That $18,000 figure will be your charitable donation. As importantly, the $12,000 in taxable capital gains that you would face if you sold that stock does not apply when you transfer the stock as a contribution to a charity. And because, in most cases, the stocks or bonds or mutual fund shares can be easily transferred to ACF, you can also avoid the commission expense that would normally be due for the sale of the property.
Our most recent certified audit shows that 88 cents of every dollar donated is used to support our educational programs.
Contact our Executive Director or CFO at (908) 431-9800.
or write to us at:
American Cancer Fund
PO Box 7262
Hillsborough, NJ 08844