Cash Gifts A gift of cash is immediately available for MCAD’s use and provides tax benefits to you if you itemize deductions.
Gifts of Securities Gifts of appreciated securities may be deducted at full market value on the date of transfer to MCAD, and unless you are subject to the Alternative Minimum Tax, you will not be subject to tax on the appreciated value of the securities.
Gifts of Tangible Property A gift of real estate or other capital assets (jewelry, books, works of art, stock in closely held companies, etc.) can be sold for the immediate benefit of MCAD. Although the responsibility for appraisal rests with you, that expense may be tax deductible as a miscellaneous itemized deduction if you itemize. It is also possible to make a gift of real estate to MCAD and to retain the right to live on the property during your lifetime.
Gift Annuities A gift annuity offers you a fixed amount of retained life income, providing a tax deduction at the time of investment. If you are age 65 or older, you may establish a gift annuity with a gift of $20,000 or more. A deferred gift annuity, in which you defer receipt of income until a specific age, offers a greater tax deduction at the time of investment and may offer an attractive retirement alternative if you are not able to take full advantage of Individual Retirement Accounts.
Life Insurance Naming MCAD as owner and beneficiary of a life insurance policy is a good way to make a significant gift that might otherwise not be possible. You may deduct the cost of premium payments. It is also possible to give MCAD an existing life insurance policy and to claim a tax deduction for the cash surrender value.
Charitable Remainder Trusts Charitable Remainder Trusts, which can be established with a gift of $50,000 or more, are individually invested and managed by a trustee of your choice. A unitrust yields a specified percentage of the assets, revalued annually. An annuity trust pays a fixed dollar amount each year. Both types of trusts provide attractive tax deductions and life income for you or a designated beneficiary.
Charitable Lead Trusts A charitable lead trust pays a percentage of income to MCAD for a predetermined number of years, after which time the assets pass to a recipient of your choice. In some cases, lead trusts may be used to shelter assets, to reduce income or estate taxes, or to relieve heirs of capital gains tax.
You may choose to include MCAD in your will, either by naming a specific bequest or by naming the college as your residual beneficiary. A bequest is an excellent tool for helping provide for the future of the college.
Matching gifts are an easy way to enhance your gift. Many corporations will match gifts made to charitable institutions. You should contact the human resources department at corporations with which you are affiliated to find out about their matching-gifts programs.