Making Giving Choices
Charitable gifts can provide much-needed financial support and may produce significant
tax savings for you. The following information is a guide and should not
replace the advice of professional legal and financial advisors.
Write a Check or Use Your Credit Card.
Hand-deliver or mail your check to LaGrange College Advancement Services, 601
Broad Street, LaGrange, GA 30240. To give by credit card, visit
LaGrange College's secure giving page
or call Advancement Services at 706.880.8255.
Contribute Appreciated Securities.
When you contribute stocks or bonds that have appreciated for more than 12 months,
you can claim deductions for their full market values and avoid any tax on appreciation.
Please call 706.880.8255 to alert Advancement Services of your stock transfer.
Invest in a Life Income Plan.
This is a gift that provides you with income security for the rest of your life
and ultimately benefits the charitable organization. If you use long-term
appreciated securities to fund the plan, you will be entitled to an income tax
deduction based on the charitable portion of the securities' full value.
In addition, you avoid paying capital gains taxes. Please call the Development
Office at 706.880.8039 for more information.
Donate an Insurance Policy.
A life insurance policy you no longer need makes a perfect year-end gift.
To qualify, the charitable organization must become the owner and beneficiary or
the irrevocable beneficiary. If the policy is paid up, your tax deduction
is usually the cost basis or the replacement value of the policy, whichever is
less. Please notify the Development Office at 706.880.8039 of your plans.
Give Real Estate, Artwork or other Tangible Personal Property.
When you give property that will result in a greater capital gain if/when sold
by the charitable organization, the result is a higher tax deduction. Please
call the Development Office at 706.880.8039 to discuss your potential gifts.
Take a Capital Loss Yourself.
By selling your securities that are worth less now than when you purchased them,
you can take a capital loss on your tax return and then contribute the proceeds.
Remember, donating your securities directly to the charitable organization will
not entitle you to take the capital loss. Once you have sold the securities,
you may donate the proceeds by check or credit card.
Utilize the Pension Protection Act (PPA).
The Pension Protection Act of 2006 enables donors age 70 ½ and older to make tax-free
withdrawals from certain retirement accounts to fund charitable gifts. When
your gift up to $100,000 is transferred directly to a non-profit organization such
as LaGrange College, it is not reported as part of your adjusted gross income,
and thus does not have to be deducted on your tax return. The provision applies
to gifts completed by December 31, 2007. Consult with your financial advisor
to determine if PPA might work for you. Please alert Advancement Services
at 706.880.8255 if you plan to utilize this opportunity.
Don't forget—you can double or even triple your gift to LC if your employer matches
its employees' charitable giving. Check with your personnel office for information
The gift date, or the date used for tax purposes, is the day you transfer control
of the asset. Keep in mind that there are different rules governing the gift date
depending on the asset or your method of giving.
– The postmark date is the date of the gift. If there is no postmark, the
date the check is received constitutes the gift date.
– The day the charge is authorized is considered the gift date.
– Only payments made during the tax year are deductible. Pledge payment
dates follow the same rules as gift dates.
Electronic transfers: The day the securities enter the organization's account
is the gift date.
Hand Delivery: The day the securities are received by the charity or its broker
is the date of the gift.
Mail: The mailing date is the gift date. It is important to send, by registered
or certified mail, the unsigned certificates in a separate envelope from the signed
stock power and letter of intent. Stock market fluctuations after the date
of delivery will not affect your charitable deduction.
– The day the organization receives the signed deed is the gift date. However,
if your state law requires recording of the deed to fulfill the title, then the
date of recording is the gift date.
, Jewelry and other Tangible Personal Property – The gift date is the day the
non-profit organization receives the property with a signed document transferring
If you would like to discuss your end-of-year gift, please e-mail
or call 706.880.8039.