There are a wide variety of ways to support Iowa Wesleyan College financially. Gifts to the College may be made either outright or as pledges payable over several years.
- Gifts of Cash: The simplest way to make a gift is to contribute cash. Checks should be made payable to Iowa Wesleyan College. Tax deduction is taken in the year the gift is made.
- Corporate Matching Gifts: Some corporations encourage employees to make charitable contributions by matching their gifts dollar-for-dollar, and sometimes as much as two or three dollars for every dollar given by employees.
- Gifts of Appreciated Securities: For outright gifts of appreciated long-term securities, deduction is equal to the fair market value of the securities on the date the donor relinquishes control of the assets to IWC. None of the appreciation has to be realized by the donor.
- Gifts of Real Estate or Appreciated Property: Gifts can consist of almost any type of property: personal or recreational residence, farm or ranch, commercial building, subdivision lots, underdeveloped property or a fractional interest in property. Other types of property include art, books, vehicles, equipment, and collectibles. Assets may be given outright, serve as the corpus of a trust arrangement or, in the case of a personal residence, given with the right of lifetime tenancy by donor and/or spouse. Immediate partial charitable deduction is available to the donor. These gifts need prior approval by the IWC Finance Committee.
- Gifts of Closely Held Stock: Donor avoids capital gains on appreciation of the stock and receives an immediate tax deduction (limited to the 30%, five year rule). Often gifts such as this are followed by an offer from the corporation to redeem the stock with its retained earnings. These gifts need prior approval by the IWC Finance Committee.
- Gifts of Life Insurance: Using life insurance to make a major gift is an option for donors who no longer need policies purchased some years ago. Donors may choose to assign their policies irrevocably to IWC. Here they would realize an immediate tax deduction in the amount of the policy's current value. The proceeds would not be subject to estate taxes and the premiums would be deductible for income tax purposes in the years thereafter in which they are paid. The IWC Finance Committee must approve gifts of life insurance based on age and cash value.
- Gifts by Will: Bequests large and small have contributed to the good health of IWC over the years. Bequests qualify for an unlimited charitable deduction, which reduces one's estate taxes and preserves more of the donor's assets for family and other intended beneficiaries.
- Charitable Remainder Unitrusts and Annuity Trusts: Charitable trusts are particularly beneficial for those who hold highly appreciated, low-yield investments from which a higher return is desired. A tax deduction is allowed at the time the charitable trust is created. The size of the deduction depends on the donor's age, payment percentage, and other factors. In the event the College acts as trustee, then the IWC Finance Committee must approve such an arrangement.
- Charitable Gift Annuities: Charitable gift annuities have many of the same benefits of charitable remainder trusts, however, the significant difference between the two is that the payments from the gift annuity are guaranteed by the College and its assets stand behind the obligation to make annuity payments. Deferred charitable gift annuity payments are deferred to some iyi net 2012 seo yarışması llhtnbşklhyktr time after the contribution is received by the College. Charitable gift annuities are useful as supplements to existing retirement plans or as a substitute for a retirement plan. Annuity payments are established at the time the gift is made. These gifts need prior approval by the IWC Finance committee.
- Charitable Lead Trusts: Donors can make a gift of current income by putting property in a simple trust. Donors specify the percentage of the total annual value that IWC is to receive. At the end of a designated period, the property is returned to the donor or to the non-charitable beneficiaries the donor has named. Such trusts may allow immediate tax advantages or may reduce the gift tax when the assets are passed to children or grandchildren at the expiration of the trust.
- Gifts-in-Kind: In selected circumstances, IWC will accept gifts-in-kind of items, equipment and/or services, which would normally be purchased. Donor credit will be based upon the fair market value of the actual savings to IWC resulting from the gift. Final determination of the credit will be the responsibility of the Vice President for Institutional Relations and CFO.
In all cases, donors should be advised to consult with their tax advisor to determine specific tax savings and/or the planned giving opportunity which best fits their particular need. Tax deductions for donations are allowed in the current year and excess deductions may be carried forward and used up to five additional years.
