Gifts of Cash
A gift of cash is the easiest and simplest way to give. You receive an official tax receipt for the full amount for income tax purposes and have the immediate satisfaction of seeing your gift at work.
Gifts of Publicly Traded Securities
With a gift of stocks or bonds, you will receive a tax receipt for their fair market value. Tax credits help offset any tax on capital gains.
Gift of Real Estate
A gift of real estate will result in a donation receipt for fair market value of the property. Even if this is not your principal residence, the gift will help to offset tax on any capital gain through tax credits.
Gift of Life Insurance
A gift of life insurance can be a large gift at a modest cost. If you designate the Community Foundation of Portage and District the owner and beneficiary of a life insurance policy, you will receive a donation receipt for the policy’s cash value, as well as for any future premiums. The proceeds are not subject to probate because the charity is the beneficiary rather than your estate.
Gift of Other Property
Other Assets, such as shares in privately held companies, debentures, royalty interest or works of art can be given to the Foundation. Donation receipts will be issued for fair market value of the gift after sale of the item. Tax credits can help to offset taxes on related capital gains.
This information is general and should not be relied upon as a substitute for professional advice. Please contact your tax advisor.