Gifts That Reduce Your Taxes
You can help us bring creative thought to life in our students’ own distinctive ways around campus, in the community, and throughout the world. What’s more, you can also enjoy tax benefits from these gifts now, or you can establish a future gift that will pass tax benefits along to your loved ones.
Stocks and Securities
When you give appreciated securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full current market value of the asset and 2) you may completely avoid capital gains tax on the appreciation of the asset. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals.
Transfer ownership now:
To make an impact on our mission today, irrevocably designate Skidmore College as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.
If your policy is not yet paid up, you will make contributions of cash to Skidmore College to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.
Name us as a beneficiary:
You can name Skidmore College as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, Skidmore College will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time.
This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.