An outright cash gift is the simplest form of giving and may be made in the form of cash, check, or credit card. These contributions may be made online, mailed, or delivered in person by meeting with a member of the VMSN Philanthropy team. Please make checks payable to Volunteers in Medicine of Southern Nevada. Details about how you would like your gift used should be enclosed along with your contribution. This information can be in the form of a personal note, a reference on the memo line of your check, or indicated on a Foundation gift envelope. Tax payers who itemize deductions are able to secure a charitable tax deduction. Recurring gifts are welcomed and encouraged.
Closely held stock (S Corp. and C Corp.) can be contributed for charitable purposes. The donor receives a charitable deduction based on the appraised value of the stock and incurs no capital gains tax liability on the share’s appreciation.
Many companies match employees’ charitable contributions through a formalized matching gifts program. Donors are encouraged to contact your employer directly to see if you can make your gift to VMSN go even further through a corporate matching gift.
Most donors who pledge support to VMSN will fulfill their commitments through quarterly, semiannual, or annual pledge payments of cash or marketable securities. For gifts of cash or stock, donors are entitled to a charitable income tax deduction equal to the fair market value of the contribution paid within the tax year, provided they itemize deductions on their tax returns within IRS limits and guidelines.
Donors may make VMSN the owner and beneficiary of life insurance policies. An existing policy yields a current charitable income tax deduction approximately equal to the cash surrender value. A paid-up policy yields a charitable tax deduction approximately equal to the policy’s replacement value; the exact figure is available from the issuing company. Whether it’s a new policy or an existing contract, donors continue to pay the premiums and take a charitable deduction for each additional premium payment.
Gifts of personal property such as art, jewelry, and equipment may be donated to VMSN. The charitable tax deduction for gifts of personal property is dependent on the ultimate use of the property donated.
Gifts of real estate, including residential, commercial, and undeveloped land, may be deeded to VMSN. Real estate gifts entitle the donor to a charitable income tax deduction based on the fair market value of the property transferred to VMSN.
Gifts of appreciated securities such as stocks, bonds, and mutual funds provide distinct tax advantages. The donor incurs no capital gains tax on appreciated securities given for charitable purposes. A gift of securities is easy to make, and donors receive credit based on the fair market value of the securities donated.
A bequest is a gift made through your will or living trust. It costs you nothing during your lifetime, and you can update or change it anytime. If you already have a will or living trust, you can amend it with a simple one-page document to include a dollar amount or percentage of your estate to VMSN.
If you’ve ever set up a retirement plan, insurance policy, bank or brokerage account, chances are you completed a beneficiary designation form to specify who will inherit those accounts and who gets what percent. What many people don’t realize is that you can also name a charity like us as a beneficiary. It’s a very simple form and an easy way to be extraordinarily generous to VMSN.
$985,270 grant dollars
$1,247,824 gifts and pledges
80% on programs and services
20% on management and fundraising
Please consult with your tax professional to determine the full tax deductibility and tax implications associated with charitable giving. Information is provided as illustration and possible benefits of different types of donations.