Cash Gifts - Tax deductible, if donor itemizes deductions.
To make a cash gift, simply download the contribution form, enclose your payment and send it to the address on the form. Or, we invite you to submit your gift while visiting us at the Library Foundation office located in the Library at 125 Virginian Lane, Jackson.
Pledges - Payable over a three- to five-year period.
Matching Gifts - Takes advantage of programs offered by many employers.
Appreciated Property - Deduction given for full value of property within maximum allowed by law.
Property That Has Lost Value
- Donor sells property, takes loss for tax purposes, then contributes the cash received from the sale.
- Deduction given from both the loss and the charitable gift.
- Possible for donor to make gifts of real estate reserving right of occupancy as long as donor and spouse live.
- Partial interest in real estate. Percentage of sale pledged to Library upon sale of asset.
- Irrevocable gift qualifies for immediate tax deduction based on present value of remainder interest.
- Amount of contribution is fair market value on the date of transfer.
Closely Held Stock
- Produces a current tax deduction equal to fair market value of the stock.