Ways To Give to The Center for Developmental Disabilities
Your gift to the Center can help make an important difference in the lives of children and adults with intellectual and other developmental disabilities and their families.
Make a 100% tax-deductible gift to The Center
Honor and Memorial Gifts
In times of joy as well as in times of sorrow, a contribution to The Center for Developmental Disabilities is a special way to express your feelings and mark important and personal family milestones such as birthdays and anniversaries. Your gift honors an individual in a meaningful way by providing support for adults and children with developmental disabilities. The attractive acknowledgement does not mention the amount of your donation and lets the recipient know of your thoughtful remembrance and of your generosity.
It makes sense to give a gift of appreciated stock, which you have held for than one year, because it generally offers substantial tax savings. If you sell the stock, you must pay capital gains tax. If you donate the stock to the Center you avoid having to pay the capital gains tax. Furthermore, your gift of the stock is fully tax deductible up to 30% of your adjusted gross income. The tax deduction is based on the fair market value of the stock at the time of the gift. Gifts in excess of 30% may generally be carried forward and deducted over subsequent years.
A gift to the Center of real property, such as a personal residence, vacation home, farm, acreage or vacant lot can offer a twofold tax saving. If the property has appreciated in value during your ownership, you must pay a sizable capital gains tax when you sell it. If you make a gift of the property, you receive a charitable deduction for the full fair market value of the property subject to AGI Limitation and you also avoid having to pay capital gains tax. You may also make a gift to the Center of a remainder interest in your personal residence, and continue to live there for your lifetime, while still receiving a tax deduction in the year you make the gift.
Gifts with a Retained Income for Life
You may make a gift of cash, stock, real estate or personal property to establish a Charitable Remainder Unitrust or a Charitable Remainder Annuity Trust that will give you income to be paid to you and/or a loved one for the rest of your life, after which the trust assets are distributed to The Center for Developmental Disabilities, Inc. By making this gift, you can increase your income and make a tax deductible contribution at the same time.
Wills and Bequests
You may wish to include a bequest to the Center in your will. Your bequest is fully deductible for federal estate purposes and you will also receive a New York State tax deduction.
For more information on making a gift to The Center for Developmental Disabilities, Inc., call 516.921.7650 ex. 415. We would be pleased to assist you and work with your professional advisors.
*We do not provide tax advice, you should consult your own tax consultant.