Give to DMC Foundation - Ways to Give Tax-Deductible Gifts Gifts you make to the Del Mar College Foundation are tax-deductible to the full extent allowed by current tax laws. The Foundation has 501(c)(3) tax-exempt status. Every gift from you is promptly acknowledged with a letter of appreciation/receipt, which you may use for tax purposes. A gift may be designated or it may be made unrestricted. Unrestricted gifts may be used where the need is greatest. A gift that is designated for a particular program, department, campaign, project, or scholarship will be applied only to the area specified by the donor.Pledges (Letter of Intent) – A pledge is a written commitment to pay a specified amount sometime in the future. It may be paid annually, quarterly or monthly over one to five years. You may establish a pledge to the Foundation in the following ways: completing and signing a “letter of intent” form provided by the Foundation writing and signing a personal letter addressed to the Del Mar College Foundation outlining the specifics of the pledge completing a pledge card provided by the Foundation (Please note: The Foundation will provide a written receipt indicating the amount, designation and method of payment of the pledge. After each payment is made, a receipt will be mailed to you confirming the amount received.) A pledge that is payable over multiple years affords you the opportunity to make a more substantial gift than might be possible if you were limited to making payment in full within a single year. Supporting Del Mar College: Gifts of Cash Cash gifts can be used to offset up to 50 percent of your adjusted gross income in the year of the gift. For people in the 28 percent tax bracket, a $10,000 cash gift can provide a direct benefit of $2,800 in the form of tax savings. The portion of the gift that exceeds 50 percent of your adjusted gross income may be carried forward for up to five additional years. Checks should be made out to the Del Mar College Foundation, Inc. with a memo on the check stating your wishes as to how the funds should be used.Credit Card GiftsDonors who like the ease and convenience of making regular gifts using a credit card may make donations through their Visa or MasterCard. For many credit card owners, this is a sensible way to make sustained, regular gifts to the Foundation, receive frequent flyer miles, and other company incentives in return.Automatic Bank DraftDonors wishing to make regular gifts over a sustained period of time often establish an automatic bank draft on their checking account as an easy and efficient way to give. Working with your bank, credit union, or savings organization, Foundation representatives can help you create a system for making regular gifts, which will remain in force until you elect to change it.Matching GiftsThe company for which you or your spouse work may have a corporate matching gifts program. The Foundation qualifies for most Matching Gifts programs. Taking advantage of this wonderful gift option through your company’s personnel benefits office may allow you to double or even triple the impact of your gifts. Additional opportunities arise when other foundations or individual philanthropists offer the Foundation a Challenge Gift. With Challenge Gifts, the donor usually states that donations for the Foundation will be matched up to a specific amount, thereby, doubling or tripling the impact of your individual gift.Appreciated or Depreciated PropertyAppreciated stock, stock which is held for more than one year, can make an excellent gift. Not only do you avoid capital gains taxes on the gifted amount, but you also receive a tax deduction for the full fair-market value of your gift. The full value may be used to offset up to 30 percent of your adjusted gross income. The portion of the gift that exceeds the 30 percent threshold may be carried forward for up to five additional years.If you own an investment that has decreased in value since you have owned it, consider selling it and making a charitable gift of all or a portion of the cash proceeds. In addition to an income tax deduction for the cash contribution, this creates a loss you may be able to deduct from other taxable income. The combined amount of the deductible loss and charitable deduction could actually total more than the current value of the investment.Bonds, Mutual FundsBonds and mutual funds are similar to stocks in their tax treatment. A tax deduction for the full value of the gift is possible, if you have held the bonds or mutual funds for more than one year. Corporate, state, municipal, and U.S. Government bonds are excellent sources of gifts.CDs, Savings Accounts, Brokerage Accounts, and Checking Accountswith POD ProvisionsPOD stands for “Payable on Death.” By adding POD provisions to an existing account, you retain full ownership and full control of the account during your lifetime. At your death, the account balance is immediately paid to your named beneficiary. The Foundation can receive this benefit without going through the probate process. Creative Combinations Depending upon your unique financial planning and gift objectives, you may use one or several giving ideas in combination to achieve your charitable goals. The Foundation Office will be happy to work with you and your professional advisors to explain the benefits of each of the plans listed and how they can work for you. Charitable income tax deductions are subject to limitations determined by the level of your adjusted gross income and the type of asset given. Please review your particular situation with a Foundation representative and your tax advisor to determine how your circumstances relate to these limits.Neither the author nor publisher of this document, nor this organization is engaged in rendering legal or tax advisory services. For advice and assistance in your specific case, you should obtain the services of a qualified attorney or other professional advisor. The purpose of this publication is to provide accurate information of a general nature only. Tax revisions occur often, as do changes in state laws, which govern wills, trusts, and charitable gifts. Please seek advice from your legal and tax advisor when considering these types of contracts. A Del Mar College Foundation, Inc. representative is available to help serve as an advocate and liaison for you in these matters.