Charitable Gifts Can Benefit You and the Kosciuszko Foundation!
There can be no denying that the state of the economy has made everyone more cautious than usual when it comes to spending. At the same time, though, December remains a traditional time for giving, both personal and charitable. Despite the difficult economic situation, carefully planned charitable donations, made by December 31, can result in tax savings to you. And it's important remember that when you make a charitable gift to the Kosciuszko Foundation or another qualified nonprofit organization, you aren't just giving money away: you are furthering the mission of the institution and taking a real part in its good works. In the case of the Foundation, you are helping us continue to build educational and cultural bridges between the United States and Poland.
We want to take this opportunity to remind you of a few things that should be kept in mind when making your donations so that tax benefits are maximized:
First of all, as you make your final contributions for 2012, please remember that delivery dates are important! Only gifts postmarked or otherwise delivered by December 31 qualify for a 2012 tax deduction. The date of the check is not sufficient. If charging the gift to a credit card, the card must have been charged by 11:59 p.m. on December 31.
If you transfer appreciated assets to the Kosciuszko Foundation by December 31, you can deduct the fair market value for tax purposes and avoid paying the capital gains tax on those assets. The easiest way to transfer stock is through a DTC transfer. This can be arranged by your broker by providing the Kosciuszko Foundation account number for transfer purposes.
Gifts of other assets, such as real estate, life insurance or other tangible goods may also result in a favorable tax benefit.
Please contact our Office of Development for further information.
Thank you for your continuing support of the Kosciuszko Foundation!
