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Cash
Direct cash gifts are the most common form of giving and can be unrestricted or
designated for a specific project, program, or department. Cash gifts may be
made outright or used to fund a life income vehicle; they are tax-deductible
to the full extent permitted by law.
Securities
Outright gifts of appreciated securities (stocks, bonds, mutual fund shares) are
tax deductible at full fair-market value if the donor has owned the asset for
at least 12 months. To avoid capital gains taxes, you must provide the securities
themselves, not the proceeds of their sale.
Gifts of closely held stock (usually
stock in a family-owned business) also carry benefits for the donor. The stock
must have been held for at least 12 months for you to claim a charitable deduction
at full fair market value. If the deduction exceeds $10,000, a qualified appraisal
is required for tax purposes.
For detailed guidelines on gifts
of securities, please call Advancement’s gift accounting office at (800)
526-2023 #5.
Real
Estate
Gifts of residences, including vacation homes and farms, allow the donor to take
a tax deduction, avoid capital gains taxes, retain lifetime occupancy for herself
or himself and/or another person—and provide support for Smith. To qualify
for tax benefits, you must have owned the property for at least 12 months before
giving it to Smith. The gift may be an entire piece of property or an undivided
fractional interest in it. Each proposed gift of real estate is evaluated on a
case-by-case basis. If the college cannot use the property, it will be sold and
the proceeds added to endowment. The owner must obtain a qualified appraisal for
tax purposes.
Personal
Property
Gifts of tangible personal property, such as art, jewelry, antiques, rare books,
gold or silver, offer the donor an immediate tax deduction; the amount depends
on whether or not the gift is related to the college’s educational purpose.
Gifts related to Smith’s educational
purpose generate a tax deduction for the full market value of the object as determined
by a qualified independent appraiser. Other gifts-in-kind do not offer the donor
the same tax advantage, but do benefit Smith through the proceeds from their
sale.
Smith College Museum of Art only
accepts works of art that can be added to its permanent collection. A donor
considering a gift of art should contact the Smith College Museum of Art,
(413) 585-2760 or email:
Matching
Gifts
More than 1,000 corporations, foundations, and other organizations will match their
employees’ charitable contributions either dollar-for-dollar, or at a ratio
of 2-to-1, 3-to-1, or even 4-to-1. Learn more about
matching gifts >
IRAs
Payroll Deduction (for Smith College Faculty and Staff)
Please click here for the Faculty and Staff Gift Form (PDF). Thank you for your support. Every gift counts! |
