Story County Community Foundation

Story County residents are active and engaged, giving of their time,
talent, and resources to charitable and community-based organizations.
As you think about your charitable interests you support, here are some
tips to help you make the most of your giving decisions:

1. Choose your charities.
Before opening your checkbook, volunteering your time, or reading
another letter requesting money, clarify your values. Ask yourself, "What
is important to me, and who has played an important role in my life?"
"Does their charitable mission fit within my values?" "Does the charity
have measureable goals for achievement?" Reputable nonprofits
discuss their programs and finances, avoid pressure tactics, and are
willing to send you information about their work.

2. Calculate your income.
Try to get a handle on your tax liability for the year. Did your unearned
income change? Did you sell appreciated assets? Will you owe more
taxes? Taxes alone may motivate you to increase your giving. You may,
in fact, want to move some of your giving forward from next year to this
year in order to create a larger income tax deduction for yourself.

3. Review your stocks.
Look at the stocks you have held for more than one year. Which have
appreciated the most? It may be prudent for you to make your
charitable gifts using one or more stocks. By doing so, the capital gain
is passed to an organization that is tax-exempt. And what's more, if you
cannot use all of the charitable income tax deducation in one tax year,
you can carry it forward for up to an additional five years.

4. Consider gifts that provide you with income.
Most charitable organizations offer a variety of life-income plans to fit
your needs. Low income earning securities can be turned into
high-yielding planned gifts. You can make a gift now, obtain current tax
benefits, and receive income for the rest of your life from your gift.

5. Do your giving early.
Especially if you want to make a gift of stock or real estate. These
transactions take additional time and can delay the donation.

6. Talk to your advisors.
Before making any significant gift, you should have your CPA, attorney,
or other adviser help you understand the impact of your gift on your
income tax and your estate.