Other Ways to Give

Employer Matching Gifts: Many corporate employers match charitable contributions by their employees. Have you checked whether your employer has a matching gift program? Why not double your gift?

IRA Rollover: Individuals age 70½ or over can exclude up to $100,000 from gross income for donations paid directly to a qualified charity from their Individual Retirement Account (excluding SEP or SIMPLE IRAs). Money given through this so called IRA rollover provision can be used to meet the donor’s required minimum distribution, doesn’t count as income, and does qualify as a charitable deduction.

Life Insurance: If you have a life insurance policy that no longer is needed, it could be given to COBYS as a gift. Name COBYS Family Services as the owner and beneficiary of the policy and receive a charitable deduction. If the policy has cash value, you may take a deduction approximately equal to the cash value of the policy. If you continue to make premium payments after the gift to COBYS, those premium payments are tax deductible each year.

Real Estate: By donating property outright, you can avoid significant capital gains tax if the property has increased in value since you first purchased it. You also can realize a charitable deduction for the full market value of the real estate.

Stocks: Giving stocks that have appreciated affords you savings in two ways: You can avoid paying capital gains tax on the increased value of your stock and also receive an income tax deduction for the full fair market value of the donated stock.

To discuss supporting COBYS in these ways, contact Director of Development Anne Stokes at 717-656-6580 or anne@cobys.org. Please contact your financial advisor or attorney for information about your specific situation.