Current Giving
Cash
Cash, usually in the form of a check, is the most common form for charitable gifts. Cash gifts enable you as donor to claim a current income tax deduction of up to fifty percent of your adjusted gross income in the year of the gift with a five-year carry-forward if needed. Actual savings from gifts of cash depend on your tax bracket – the higher the tax bracket, the lower the cost of the gift. All checks are made payable to The Columbus Foundation with the name of the specific fund on the memo line of your check.
Securities
A gift of appreciated securities (such as stock, bonds, and mutual funds) can also be used to establish a fund or add to an existing fund. Appreciated securities held long term often provide important tax advantages, as their full market value is generally deductible as a charitable contribution up to thirty percent of the donor's adjusted gross income. Like gifts of cash, deduction amounts that exceed the limit can be carried forward for up to five additional years.
Real Estate
Gifts of real estate include a gift of a house or other personal residence, farm, commercial buildings, and income producing or non-income producing land. The Foundation accepts most unencumbered real property, which can allow you to contribute more than you may have thought possible. When gifting real property, you can avoid capital gains on the sale of the property and can take a charitable tax deduction for the fair market value of the real property.
Mutual Funds
Mutual funds can also be contributed outright to the Foundation to establish a fund. Donors generally receive a deduction based on the value of the mutual fund at its public redemption price. Completing the gift transaction may take two to six weeks. However in some cases, electronic transfers via wire to a broker are possible, and may be completed within a few days.
Closely Held Stock/Partnership Interests
Closely held stocks are shares in a privately-owned business. The stock can be contributed outright to a public charity, and as donor you are generally entitled to a deduction for the appraised fair market value, up to 30 percent of the donor's adjusted gross income. If the claimed value exceeds $10,000 a "qualified appraisal" is required. The Foundation can sell the stock to any potential buyers and is not legally bound to sell the donated shares. Special rules apply to shares of sub-chapter S corporation stock.
Tangible Personal Property
Gifts of tangible personal property such as jewelry, artwork, collectibles, antiques, vehicles, and boats may be donated to the Foundation to establish a fund. This type of gift must be evaluated individually by the Foundation for suitability before being accepted.
If you are ready to make a gift to any of our existing funds, you may give now to The Columbus Foundation via credit card.
We offer individuals the opportunity to make a gift to other nonprofits in the community through PowerPhilanthropy, our online database.
To learn more, contact a member of our Donor Services team at 614/251-4000 or by e-mail. Or, if you are interested in becoming a donor, please complete this brief Become a Donor form and a Donor Services officer will respond within the next business day.