Whether you are making a contribution to annual fund or you would like to learn more about major gifts, naming opportunity, planned gifts, there are numerous ways you can make a gift. They are most commonly divided into current gifts and deferred gifts. Donate Now!
Cash gifts are the most common contributions made to the South Carolina 4-H. A gift of cash is not subject to taxation and is fully deductible on an annual basis up to 50% of your adjusted gross income (AGI). If the cash gift is large enough to exceed 50% of your AGI in the year of the gift, the remaining amount of the gift may be carried over and used as a deduction for up to five years. The gift amount is removed from your estate. A contribution postmarked in December is deductible for that tax year even if the University receives it in January.
Gifts of appreciated stocks or bonds have the same positive benefits as cash, but may be more beneficial to you, per Internal Revenue Service standards.
Gifts of marketable securities that have been held longer than one year allow you to make a charitable deduction equal to the full fair market value of the securities. These gifts allow you to avoid taxation and can be a major benefit to you if you have held securities for several years and they have grown in value.
In addition, by making a gift of securities and letting the institution sell them, you avoid paying any taxes on capital gains on the appreciation in the value of the securities. This can be a major benefit to you if you have held securities over a number of years and if they have grown in value.
South Carolina 4-H often receives in-kind gift. An in-kind gift can range aware from supplies that a 4-H club may need for a project, to a mobile shooting sports trailer, to the use of a facility at little or no cost. In-kind gifts allow the donor an income tax charitable deduction of the appraised value of the gift on the date of the gift (up to 30% of the donor's adjusted gross income with the five-year carry-over provision).
Note: Deferred giving offers other ways to make gifts of real estate: life estate agreements, charitable remainder annuity trusts and unitrusts, and bequests.
Real estate of many types (including undeveloped land, farms, homes, and commercial buildings) can be contributed. Potential gifts of real estate are evaluated based on their ability to be upkept and various other risks associated with the property. Gifts of real estate offer the same deductions as gifts of securities, carry no gift taxes, and may reduce your overall estate taxes. You avoid capital gains taxes on the appreciation you have in the property.
Potential gifts of real estate are evaluated by the Clemson University Foundation on a case-by-case basis before acceptance. The Foundation must consider insurance, environmental, maintenance, property tax liability, and other potential risk factors, including special tax provisions which apply to certain types of real estate.
For more information on gifts of real estate, visit the Clemson University Foundation website.
Bargain sales are sales of property, such as securities or real estate, to the Clemson University Foundation for less than the full fair market value. A bargain sale consists of a sale portion and a gift portion. A portion of the appreciation of the asset is considered a gift to the University, and you receive a tax deduction for this amount.
A donor creates a Charitable Lead Trust by transferring ownership of an asset to a trust. The trust gives the income, or a percentage of the income, to the Clemson University Foundation each year for a period of years (usually 15-20). At the end of the period of years, the trust assets are given back to the donor or to named beneficiaries. The lead trust typically is used with assets with a potential for continued high appreciation. The trust permits the assets to be transferred to other family members at a low transfer cost. Utilizing the lead trust, the donor may leave a significantly larger inheritance to his or her heirs than he or she could have left via a will or other trusts.
Deferred gifts are often called “planned gifts” because they are integrally connected to your financial and/or estate plans. They range in size from smaller bequests to multi-million dollar trusts. They are called deferred gifts because even though they are given today, the benefits will not be realized until sometime in the future by the South Carolina 4-H.
A bequest may be particularly attractive as a gift option if you want to provide for the South Carolina 4-H in the future. Bequests may be designated to the 4-H program of your choosing or used where the need is greatest within the organization.
- "Specific" bequests are most common. You leave a specific amount of money, a specific asset, or a specific percentage of your estate to support 4-H.
- "Residual" bequests go to support 4-H only after all debts, expenses, taxes, and other bequests have been paid.
- "Contingent" bequests are ways for you to support 4-H even if you have young children. The contingent bequest takes effect only when all other bequests fail.
A Charitable Gift Annuity is a simple agreement between you and the Clemson University Foundation designating a gift for 4-H. In exchange for your gift of cash, securities, or certain types of other assets (possibly real estate or timber rights), the Clemson University Foundation will agree to make fixed, periodic payments to you and/or another beneficiary for life. A portion of the payment to you may be tax-free, or taxed at the more favorable rate for taxes on capital gains. You will be entitled to an immediate federal income tax deduction for a portion of your gift. The amount of the deduction will be based upon the amount of the gift, your age and/or another beneficiary, and the annuity payment rate. When the gift annuity ends, its remaining principal passes to the Clemson University Foundation to be used per your designation with 4-H.
A donor creates a Charitable Remainder Trust by transferring ownership of an asset to a trust. Unlike the Charitable Lead Trust, the trust gives income, or a percentage of income, to you and the beneficiaries you names. Upon termination of the trust, the principle passes to the Clemson University Foundation to be used per your designation within 4-H. There are several different types of remainder trusts. For more information, visit the Clemson University Foundation.
A life estate agreement allows you to give your home and/or farm to the University today, but retain the right to live in the home or use the farm for life. You may also stipulate that your spouse may continue to live there for his/her lifetime. You receive an immediate income tax deduction based upon your age(s) and the useful life of the property, and you remove the home and/or farm value from your estate. However, you must continue to maintain the property, insure it, and pay property taxes. After your death, the Clemson University Foundation becomes owner of the property and may utilize the property to support program-related purposes or sell the property to generate funds to support South Carolina 4-H.
Our supporters often overlook the benefits of giving a life insurance policy to Clemson University Foundation
If you are carrying more insurance coverage than your family obligations now require, you may find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming Clemson University Foundation as the owner and beneficiary, thus creating an endowment gift from income rather than capital.
You must name us as irrevocable [you can't change the terms in the future] owner and beneficiary of an insurance policy to secure tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the policy's cash surrender value or basis, whichever is less. If you create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.