What to Give to The Kentucky Center
The Center welcomes all types of gifts in support of its mission:
Cash is the easiest asset to give and is often used to fund a life income gift (such as a charitable gift annuity) which can often create greater income than a certificate of deposit or stock dividend.
Long-term appreciated securities make excellent gifts. If you sell the stock, you owe capital gains tax on the appreciation. On the other hand, if you give stock, the full value qualifies for a charitable deduction. Also, if the stock is used to fund a life income gift (such as a charitable gift annuity or charitable remainder trust) the payout is based on the full value of the stock.
If you make a gift of a residence, vacation home or other real estate, you receive a charitable income tax deduction equal to the property’s full value. In contrast, if you sell the property and pay capital gains tax on the appreciation, you realize only a portion of its full value. Also, in some cases a gift of real estate can provide income to you through a charitable gift annuity or charitable remainder trust.
You can deduct at full value artwork, collectibles and other tangible personal property which supports the mission of The Kentucky Center. Personal property unrelated to The Center’s mission can be deducted at your cost.
Interests such as royalties and shares of closely held stock are worth considering as a charitable gift.
For more information, please email Jennifer Webb, or call at (502) 566-5159.