There are a variety of ways to make a charitable gift. While cash gifts are the most popular, there are other creative strategies available that may address your interest in supporting Imagine No Malaria and still ensure your local church gets credit for the contribution and may at the same time provide you with tax benefits.
Here are some of the most popular ways to give:
Generally, your cash gift may be deducted from your federal income tax return for the year your gift is made as long as you itemize deductions. In most cases, you can deduct an amount up to 50 percent of your adjusted gross income in any one-tax year. The excess can be deducted over the following five years. Actual savings from the deduction depend on your tax rate and other factors. Generally, the higher your tax rate, the greater your savings. If you'd like to give now, visit our secure contribution page for details..
Many employers have established matching gift plans that allow an employee’s charitable gift to be matched by the employer.
If the property has increased in value and you have owned it long enough for it to qualify as a long‑term capital asset (12 months and a day), the best course will probably be to give it outright. A gift of appreciated property allows you to avoid the capital gains tax due if you were to sell the property. In most cases, you receive a tax deduction for the full value of the gift, subject to a limitation of 30 percent of your adjusted gross income. The excess beyond 30 percent can be carried forward for five years.
Property That Has Lost Value
In the case of property that has decreased in value, you would benefit from selling the property, taking the loss for tax purposes, and then contributing the cash. In this way, you would receive a deduction for both the loss and the charitable gift.
Gifts of real estate or a bargain sale transaction may be desirable, subject to review and approval of the West Ohio Conference. It is also possible for you to make a gift of your personal residence, farm, or vacation home.
Stock certificates can be assigned directly to the West Ohio Conference or they may be transferred through your broker. The amount of your contribution is the fair market value on the day of transfer.
The above information does not include longer term planned giving opportunities and is not an exhaustive list. When contemplating a special gift to the Imagine No Malaria campaign through the West Ohio Conference it is a good idea to notify gcooper [at] wocumc.org (George Cooper), Executive Director of the Council on Development or Associate Director, dboling [at] wocumc.org (Dave Boling) of your intentions.
It is expected that each donor will consult with his or her financial advisor before finalizing a major gift.