Gifts of Cash
Cash and pledges are deductible for federal income tax purposes up to a limit of 50 percent of your adjusted gross income. Where cash gifts exceed this limit, you may carry over the excess for up to five additional years. Gifts or pledges made to the Forest Manor Multi-Service Center unrestricted fund gives FMMSC the greatest flexibility to respond to the needs and priorities of the community. The unrestricted fund helps provide basic needs assistance, staff development, and invest in new program initiatives.

Gifts of Stocks and Bonds
Some donors prefer the additional tax advantages of making their gift in the form of appreciated securities rather than cash. Please consult your financial advisor for details, but generally you’re entitled to charitable income tax deduction for the full value of your gift, provided you have owned the securities for more than 12 months. In addition, you avoid paying tax on capital gains that you would have owed if you had sold the securities. Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.

Gifts of Closely Held Stock
If you own stock in a closely held corporation, you can use such stock to make a gift to Forest Manor Community Center that will bring you substantial tax benefits. There are a number of strategies you can use to structure the gift according to your circumstances.

Gifts of Personal Property
In planning your estate, remember that valuable collections, works of art, and other forms of tangible personal property may be subject to estate taxes. By donating such items during your lifetime rather than at your death, you not only reduce your taxable estate but also your taxable income in the year of the gift.

Bequests

A revocable gift through a will to a charitable organization