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Other Possibilities of Supporting
You may be surprised to learn all the ways you can give to the Falls Church Education Foundation to ensure that our students are prepared to effectively meet the challenges of the 21st century. Some of them are listed below.
For further information please contact Debbie Hiscott at the Foundation, (703) 538-3381 or
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.
Gifts of Cash
Gifts of cash, check, or credit card are the most popular method of memorial giving. Such gifts are convenient and can be tax deductible. If you itemize your tax deductions, gifts of cash can serve to eliminate tax on up to 50% of you adjusted gross income (AGI).
Appreciated Property
Giving securities, such as stocks, bonds, and mutual funds that have increased in value can bring extra tax savings. Such gifts provide multiple tax benefits. Not only are they generally deductible from income tax at full fair market value if owned for longer than one year, giving inthis way also enables you to bypass capital gains tax that would otherwise be due if the donated asset were sold. Gifts of such assets are deductible in amounts up to 30% of AGI.
Depreciated Property
If you own an investment that has decreased in value since you have owned it, consider selling it and making a charitable gift of all or a portion of the cash proceeds. In addition to an income tax deduction for the cash donation, this creates a loss you may be able to deduct from other taxable income. The combined amount of the deductible loss and the charitable deduction couls actually total more than the current value of the investment.
A Gift through Your Will or Living Trust
After providing for loved ones, you can direct that a specific amount, a certain property, or all of a percentage of what remains be devoted to charitable purposes you choose. There is no limit to the amount of charitable gifts that are deductible for gift and estate tax purposes.
Gifts of Retirement Plan Assets
Gifts of cash, check, or credit card are the most popular method of memorial giving. Such gifts are convenient and can be tax deductible. If you itemize your tax deductions, gifts of cash can serve to eliminate tax on up to 50% of you adjusted gross income (AGI).
Gifts of Life Insurance
If you own life insurance policies that have built up cash value but are no longer needed for the purpose for which they were intended, such policies can make excellent charitable gifts. In addition to providing income tax savings today, gifts of all or a portion of the value of life insurance can also result in significant estate tax savings.
Designating Your State Tax Refund to the Foundation
You may voluntarily donate all or part of your state tax refund to a Public School Foundation, such as the FCEF, on lines 25c-25d of the Virginia form 760 ADJ. Our code is 61101. See the link on the left to obtain a tax form, just print, complete the contribution amount on line 25cor 25d, and attach to your Virginia taxes.>
Company Matching Gifts
Many companies and corporations have matching gift programsand will match their employees’ gifts to the Falls Church Education Foundation. Please inquire with your company, and if this benefit is available, enclose your matching gift form with your donation.
