As the end of 2013 nears, an improved stock market and changes in tax law enacted for 2013 mean a greater range of ways to give may be available to you as you consider your gift to the Columbia Museum of Art.
As always, we suggest you consult your individual tax and legal advisor to determine how you can benefit from these changes as you make your gift to the Columbia Museum of Art.
Making a contribution in honor of a student, friend, family member or teacher is a generous way to celebrate all occasions from graduations to a simple thank you. Donating a gift in honor of someone is easy, simply include the name and address of the honoree and we will do the rest. We then will send a personalized letter informing the honoree of your generous contribution (no gift amount need be listed).
If you are interested in making a gift in honor of someone special in your life, please contact firstname.lastname@example.org or call Bob Evans at 803.343.2198.
You may also wish to remember someone whose own life, love, or work you see reflected in the Columbia Museum of Art or its mission. Making a memorial gift to the Museum is a beautiful way to remember a loved one and to insure their passion will be available for future generations in your community. Your gift will be recognized with a letter sent to the family or friends you specify (no gift amount need be listed).
If you are interested in making a gift in memory of someone special in your life, please contact email@example.com or call Bob Evans at 803.343.2198.
Your company might match your gift, multiplying its impact. Please indicate your matching gift on the donation form and submit along with your company's matching gift form.
Again in 2013, you may make a gift using the charitable IRA rollover. This provision allows you to donate up to $100,000 of taxable income you receive from the required minimum distribution of an IRA. To qualify for this deduction, you must meet the following criteria:
For more details, please contact Selina Ciarlone, business manager, at 803.343.2193.
This year, consider a gift of appreciated securities. You may be able to deduct the full market value of the gift for both regular and AMT (alternative minimum tax) purposes if you have held the securities for more than one year.
To make a gift of stock to the Museum, talk to your advisor and please complete this form and send it to the attention of Lowndes Macdonald, firstname.lastname@example.org or call 803.343.2172. This will help us monitor the gift to ensure it is received at the time you give it.View Example
If you contribute an appreciated security that has a basis of $20,000 and a fair market value of $100,000, you may take a deduction up to or equal to $100,000 (subject to certain limitations) and the Museum will receive the full gift worth $100,000.
If you sold the same $100,000 of appreciated securities and donated the after-tax proceeds, both you and CMA would get a lesser amount, due to the tax you will pay on the long-term capital gains. CMA would receive only the amount after tax, reducing your charitable contribution from $100,000 to $84,000, while you would both pay the 20% tax on the capital gains and receive a smaller income tax charitable deduction.
Your charitable giving can continue through community and family foundations and donor-advised funds—as more and more donors seek professional assistance in efficient management of their charitable dollars and effective grant-making to the causes and charities they value. When you give through your local community foundation or a donor-advised fund managed by your investment firm, you realize an immediate tax benefit and the advantages of professional investment and grant-making services.
Many companies will match employee charitable donations up to a certain level. Your H.R. department can give you information about matching gifts, or check with the Museum’s Campaign Office to see if your company is a matching gift company.
Matching gifts are not limited to large corporations. Even if your company is small or a professional firm, it pays to ask if your employer will match all or part of your charitable gift to CMA.