Current Gifts
Cash - Gifts of cash given by check, money transfers and credit cards. Cash gifts can be claimed as an income tax deduction for the full value of the gift.
Securities - Stocks, bonds, and mutual funds, owned for a minimum of one year, may be donated by contacting your fund manager to make the transfer.
Appreciated Stock - Transfer stock directly to the nonprofit at current market value and avoid capital gains. Example: stock cost basis $2,000 with a current market value of $4,000. Your gift and tax deduction is $4,000.
Depreciated Stock - Sell stock, take a capital loss, donate funds and receive a tax deduction.
Real Estate - A primary or secondary residence, farm, vacation home, commercial building or undeveloped parcel of land are welcome gifts. The real estate may be used by Carroll or sold and the funds utilized. Donated appreciated real estate allows a deduction at the current market value, avoiding capital gain tax.
Tangible Personal Property - Collections, art, automobiles, recreation vehicles, equipment, patents, copyrights, etc. may be charitable gifts. Professional appraisals are required on personal property exceeding a $5,000 value. Tax deductions are dependent on the related use for Carroll.
Note to Montana Residents
MONTANA TAX CREDIT
Montana law allows you to pay less on Montana state income taxes when you give a qualifying planned gift to a Montana charitable endowment fund.
The tax incentive is an income tax credit rather than a charitable gift deduction.
Individuals are allowed a tax credit against state taxes in an amount equal to 40% of the present value of a planned gift made by a Montana tax payer to a qualified Montana endowment.
Corporations may receive a 20% tax credit on outright gifts (planned gift not required). The maximum credit is $10,000 Tax Credit Forms: MT QEC.
Planned Gifts
Planned gifts are made from current assets through a contract or trust and usually provide annual income for life to the donor and a secondary beneficiary. At the death of the last income beneficiary, the remaining amount of the gift is distributed to Carroll College. Planned gifts are revocable or irrevocable.
Making plans now for a future gift - Planned giving is the integration of personal, financial, and estate plans with a person's goals for lifetime or legacy giving.
A donor generally makes a contribution from their assets or estate and generally receives current income and tax benefits.
This information is provided as an educational service. Your financial advisers should always be consulted regarding your plans.
For more information about planned giving opportunities, contact Carroll's Office of Institutional Advancement
Richard Ortega, Ed.D.
Vice President for Advancement
406-447-5409
rortega -is-at- carroll -dot- edu
CARROLL COLLEGE
Office for Institutional Advancement
1601 N. Benton Avenue
Helena, MT 59625
800-503-7458
www.carroll.edu
