Tax Benefits

Immediate and Maximum
Your contributions are tax deductible in the year they are made. Because the Foundation is a public charity, contributions qualify for the maximum deductibility for income, gift and estate tax purposes.

Save Twice by Gifting Appreciated Property
By using appreciated property (e.g. securities or real estate) to make your gift, you avoid capital gains tax AND typically qualify for an income tax deduction.

Tax Benefits

  • Cash Deduction: Up to 50% of adjusted gross income
  • Appreciated Property Deduction: Up to 30% of adjusted gross income

Your deduction is for the amount of your cash contribution, up to 50% of your adjusted gross income (AGI) in the tax year in which you make the contribution. Deductions may be subject to certain other limitations based on income.

Publicly Traded Securities

  • For publicly traded securities held for more than one year, your deduction is the mean of the high and low prices reported on the date you make the contribution.
  • For mutual fund shares held for more than one year, your deduction is the closing price on the date you make the contribution.
  • For securities or mutual fund shares held for one year or less, your deduction is the lesser of your cost basis or fair market value.
  • Deductions for contributions of appreciated securities held for more than one year are limited to 30% of AGI. You may carry forward and deduct any excess amount in the five-year period after the year you make your contribution. You may minimize or altogether avoid capital gains tax by establishing a Gift Fund.

Private Securities, Real Property and Business Interests
Your deduction is the fair market value on the date you make the contribution if interests are held for more than one year. Your deduction is the lesser of your cost basis or fair market value for assets held a year or less. The IRS requires you to provide an appraisal for any contributed property for which you will claim a deduction of more than $5,000.

Estate Planning and Taxes
Contributions and any earnings to your Gift Fund are not part of your taxable estate and are not subject to probate. You should not include amounts contributed to your Gift Fund in your gift and estate tax unified credit calculation.

Tax Treatment of Gift Fund Investment Earnings and Distributions
Income and capital gains are credited to your Gift Fund and not to you personally. Investment earnings will be reflected in the market value of your Gift Fund. See Investments for an explanation of investment pool descriptions. You receive a charitable deduction at the time you make a contribution, but cannot continue receiving deductions for ongoing grant distributions from your Gift Fund. Amounts distributed may include appreciation since the date of your gift.

Donate to the Iredell County Community Foundation

For more information about Iredell County Community Foundation, contact:

Meg Dees
Vice President
Philanthropic Advancement 

Alli Celebron-Brown
Vice President and Program Officer