Granite Education Foundation
Consider All the Possibilities of Giving!
You may be surprised to learn all the ways you can give to the Granite 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:
Scott Whipple, Executive Director
Granite Education Foundation
801.646.4590
swhipple@graniteschools.org
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).
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 in this 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.
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 could actually total more than the current value of the investment.
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 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).
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.
You may voluntarily donate all or part of your state tax refund to the Granite Education Foundation. All you need to do on line 22d is enter tax code “05” (School District and Nonprofit School District Foundation), then enter our code “12” with your designated amount.
Many companies and corporations have matching gift programs and will match their employees' gifts to the Granite Education Foundation. Please inquire with your company, and if this benefit is available, enclose your matching gift form with your donation.
A proudly displayed license plate demonstrates pride in our local schools and support for public education in communities across the state of Utah. The ultimate beneficiaries of this increased interest in and support for public education are the thousands of children in the classrooms of our public. When you choose this type of a license place, the Granite Education Foundation will receive $25.00 of the total fee.
See Form TC-817, "Application for Personalized Plates" for a listing of fees and other information.
