The Foundation can accept a wide variety of assets:
Cash, usually in the form of a check, is an easy and convenient way for you to support worthy causes in the community. Gifts of cash enable you as a donor to claim a tax deduction of up to 50% of your adjusted gross income in any one year when you itemize deductions, with the excess, if any, carried forward for an additional five years. Actual savings from gifts of cash depend on your tax bracket - the higher the tax bracket, the higher the deduction.
Gifts of appreciated securities offer important tax advantages, since their full fair market value is deductible as a charitable contribution up to 30% of your adjusted gross income each year when you itemize deductions. Like gifts of cash, deduction amounts that exceed the limit can be carried forward for up to five additional years. You do not have to pay capital gains taxes on the appreciated portion of your gift.
After the Foundation liquidates the securities, the value of the gift net broker's commission and fees is available to support your charitable goals.
The Foundation can accept gifts of publicly traded stock, publicly traded bonds, closely held stock, restricted stock, partnership interests (including family limited partnerships), and mutual funds.
The Winston-Salem Foundation can accept the gift of a house or other personal residence, farm, commercial building, and undeveloped land. A gift of real estate that you have owned for more than a year entitles you to the same federal tax advantages as those for gifts of securities - a tax deduction for the fair market value of the property - while allowing you to avoid paying capital gains tax.
The Foundation can accept gifts of personal property, such as artwork and jewelry. After expenses and the liquidation of the personal property, the full value of the gift is available to support your charitable goals.