The University of Toledo

Tips for Year-End Giving

While gifts in support of The University of Toledo are appreciated any time, many donors make donations at the end of the year. Year-end giving is advantageous for both the donor and the Foundation. Following are some tips to keep in mind:

Cash, the most common form of charitable gift, provides an income tax deduction when itemized on your tax return. The gift must be postmarked or hand-delivered to the Foundation office by Dec. 31 for a charitable deduction on your 2012 tax return.

Credit cards may be used to make your gift online at the Foundation’s secure giving website. Receive the deduction now and pay your credit card bill at a later date. If your credit card provides frequent flyer miles or other credits or points, you get the tax advantages plus added benefits.

Donate appreciated stock, held for more than a year, and derive an additional tax benefit: avoidance of capital gain. Appreciated stock with the greatest capital gain will maximize your tax benefit.

Sell stock that has lost value, and donate the proceeds. Deduct the loss in value (cost basis less current value) and derive a tax deduction for the amount of your contribution.

Make a gift from your IRA directly to the UT Foundation. You will reduce your federal estate taxes, and your heirs will avoid additional income tax.

Donate an insurance policy you no longer find useful and receive a charitable deduction for the cash value of the policy.

Match your gift with your employer’s contribution. Many companies have matching gift programs. Simply enclose the company form along with your donation.

For more information about your year-end gift, contact the Foundation at utfoundation@utoledo.edu or 419-530-7730.