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Current Giving
For those donors interested in giving to The Clark James Foundation, there are many opportunities to complete a gift.

Cash Gifts - Check, Credit Card, Online, Direct Transfer
Gifts of cash, usually made by check, are the most popular form of charitable giving. Generally, cash contributions may be deducted up to fifty percent (50%) of the donor's adjusted gross income. Should the gift total exceed this amount for one year, the remaining deduction may be used in succeeding tax years for up to five years.

In addition to checks, the use of a credit card allows the donor to make an immediate gift. The Clark James Foundation may also work with a donor to establish a means to transfer a monthly amount from the donor to The Clark James Foundation through direct transfers.

Giving Appreciated Assets
Gifts of assets that have increased in value since their purchase are particularly attractive to donors planning a charitable gift. Consider that:

  • Sales of stocks, bonds, mutual funds, and real property that have appreciated in value generate a taxable capital gain; a tax that can be avoided by donating appreciated property.
  • Gifts of appreciated assets are deductible at their full fair market value if the asset has been held for more than one year.
  • The full fair market value of these assets may be deducted up to thirty (30%) of the donor's adjusted gross income.
  • Any excess deductions can be carried forward into as many as five additional tax years.

Tax-Free Distributions from IRAs to Charity
A tax law provision permitting tax-free distributions of up to $100,000 from IRAs to charities has been extended through 2011. A person may direct a current distribution of up to $100,000 from their IRA to The Clark James Foundation through 2011. Distributions count toward the "required minimum distribution" and are not subject to federal income tax. These distributions are not eligible for a charitable income tax deduction.

Real Estate
Almost any type of real property - a personal residence, a farm, a vacation home, a commercial building, or an undeveloped parcel of land - can be gifted. If the property has been held for more than one year and is given outright, the donors will avoid income tax on the gain and maximize their charitable deduction. They also benefit by reducing their taxable estate and by receiving a charitable income tax deduction based on the fair market value of the property.

Actual income tax savings will depend on the donor's tax bracket. The donor may deduct the value of the gift up to thirty percent (30%) of adjusted gross income, or elect a fifty percent (50%) of adjusted gross income deduction by reducing the value of the gift to its cost basis. Either way, the charitable deduction may be used in the year the gift is made and any excess is deducted over the next five tax years.