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When making a charitable gift, you have several alternatives in addition
to giving cash. To learn more about making a current gift to The Peninsula
Community Foundation of Virginia, contact our Executive Director, Jana Murphy Kast.
Options for current gifts include:
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Publicly Traded Stock
While your checkbook may be the usual means for making gifts, for many
people a gift of securities makes good sense. Stocks you have owned for
more than a year may be more valuable today and are subject to capital
gains tax on the increased value if you sell the stock. When you give that
stock to charity, however, you pay no tax on the gain and receive an
income tax deduction for the full fair market value of the stock. Click here to download the "Three Easy Steps" for transferring stock or click here to download a sample transfer letter.
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Mutual Funds
You may give mutual funds to The Peninsula Community Foundation of
Virginia. To learn more about this giving option, please contact our Executive Director, Jana Murphy Kast.
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Real Estate
For most people, one of their greatest assets is real estate, which has
appreciated rapidly in recent years. Similar to appreciated stock, when
you give real estate that is more valuable today than when you acquired
it, your tax deduction is the present market value and there is no tax on
the gain. If you are thinking about giving real estate, please allow
adequate time to complete the transfer, subject to review and acceptance
by the Foundation.
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Life Insurance
If you have paid-in-full life insurance policies originally intended to
protect your family while you acquired sufficient assets and raised your
children and they have accomplished their purpose, making The Peninsula
Community Foundation of Virginia the owner and beneficiary of them may
make sense.
This can provide an income tax deduction to you and a great gift to
support your favorite causes. Whether you decide to support specific
nonprofit organizations or create a scholarship fund to help students, the
Foundation will provide ongoing stewardship to ensure your wishes are
fulfilled.
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Other Assets
Other assets you may donate include:
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Interests in business entities. Subject to review and
acceptance by the Foundation, you may make gifts such as closely held
securities, partnership interests and interests in limited liability
companies. These can only be accepted if the Foundation is adequately
protected from liability. A staff member will meet with you and your
advisor to review each gift and determine how to handle the
contribution. It is important to allow time for this review to occur.
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Restricted Stock. You may donate stock controlled under
Securities and Exchange Commission Rule 144 or other applicable
restrictions subject to review and approval by the Foundation.
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