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We all know the holidays can be a stressful time. Between finding gifts for loved ones, preparing meals and traveling to see family, December often transpires in a blur. Statistics show this is the time of year when most people also frantically race to lower their tax bill. The 12th Man Foundation, like many other non-profit organizations, is often a grateful recipient of donor gifts in the final month of the year. Here are a few common end-of-year giving methods you may wish to consider as you plan your final 2016 charitable giving and aim to lower your taxable income.
By far, this is the most common and simple way to make a gift. This is frequently accomplished through our website, 12thmanfoundation.com, and you can also contact one of our major gifts officers at the information listed on the next page. Not only will your gift make an immediate impact on Texas A&M athletics, but you will also receive a charitable income tax deduction for your donation and an end-of-year tax receipt. You will receive priority points for your gift, and the money can be directed to a specific sport or program that is important to you. (Priority points are awarded on a ratio of 4 points for every $100 donated).
With the stock market touching all-time highs in November and December, a timely and common method worthy of consideration is gifting stocks, bonds or mutual funds to the 12th Man Foundation. This is beneficial to donors looking to avoid capital gains tax on appreciated securities while also receiving an income tax deduction. Like a gift of cash, you will receive a charitable income tax deduction as well as priority points at the rate listed above. This will allow both you and Texas A&M athletics to benefit now and in the future. To complete a stock transaction, please contact a development officer at one of the numbers listed below to obtain our account information.
This is a beneficial and increasingly popular method of giving for people aged 70.5 years or older. An IRA Charitable Rollover allows a donor to allocate up to $100,000 directly from an IRA to the 12th Man Foundation. The gift can be used to meet all or part of the IRA required minimum distribution. While rollovers do not initiate a charitable income tax deduction, the amount of the rollover will not be included in your taxable income. Gifts of this kind can be designated for a sport or impact area of your choosing and will accrue priority points.
If you have a life insurance policy that has outlasted its original intent, you may consider making a life insurance gift to benefit Texas A&M athletics through the 12th Man Foundation. This can be accomplished by gifting a policy that is no longer needed for its intended purpose, or even naming the 12th Man Foundation as the beneficiary of a percentage of an already-existing policy. Gifting a life insurance policy can qualify the donor for a charitable income tax deduction. However, not all plans are created equally, so we would enjoy a chance to visit about your specific policy and how a gift may benefit you and Texas A&M athletics.
A gift of appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can have a big impact on A&M athletics. By giving real estate directly to the 12th Man Foundation, you will avoid paying capital gains tax on the sale of the property while receiving a charitable income tax deduction and valuable priority points based on the value of the gift. You can also ask us about the Zero-Tax Gift and Sale, which allows you to receive proceeds from the sale of your property, avoid capital gains tax and make a gift in support of athletics.
Like many important financial decisions, a little learning goes a long way. Please contact one of our development officers at a number listed to the left to learn more about how to structure an impactful end-of-year donation. Don't forget, the proceeds for any gift can be directed to a specific team or program of your choosing. We appreciate your consideration and thank you for aiding our mission of "Funding Scholarships Programs and Facilities in Support of Championship Athletics."
This is my way of telling Texas A&M 'Thank you.'"