Other Donation Options
Other Donation Options
Stocks/Bonds: Donate appreciated securities (stocks, bonds, or mutual funds) and claim a charitable deduction:
When you make a gift of appreciated securities (stocks, bonds, or mutual funds), you may be able to claim the fair market value of the donated securities on the date of the donation as a charitable deduction for tax purposes and may also be able to eliminate taxes on accumulated capital gains. Here’s how it works:
- You transfer appreciated securities to the AWA.
- The AWA sells your securities and uses the proceeds for programs and services that promote woodturning education or an initiative of your choice.
- You receive gift credit and an income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
- You pay no capital gains tax on the securities you donate.
Under the present U.S tax law, for a donation of the actual shares of stocks, bonds or mutual funds to the AWA a 501(c)(3) charitable organization, the built-up capital gains are forever forgiven so that the donor never has to pay capital gains taxes on the donated securities. The donor may claim the fair market value of the stocks, bonds, or mutual fund shares that are donated as a tax deduction, as of the date of the donation, and not from the cost basis (the price the donor paid for the shares).*
It is important that you instruct your broker (or other investment adviser) to transfer the actual securities in kind (do not sell and then transfer proceeds).
Your gift to the AWA as a bequest through your will is one of the simplest forms of planned gifts. In a bequest, you can designate either a specific dollar amount or a percentage of your estate as a gift to the AWA after other disbursements.
Leaving a gift to the AWA doesn’t mean you can’t leave money to your family. You can do both. In addition to supporting the AWA, your planned gift conveys your passion for woodturning and may also reduce the amount of your taxable estate*, which can increase the actual amount you leave to loved ones. Here’s how it works:
- You arrange for a future gift to the AWA by including a bequest in your will.
- You can modify your bequest if your circumstances change.
- The AAW receives your gift and applies it to the purpose(s) you specified.
- Your assets remain in your control during your lifetime.
- You know that your gift will benefit the AWA and the future of woodturning tomorrow just as you intend today.
Just as gifts to a charity may result in a tax deduction, the gifts made by you after death may provide a deduction for your estate too (U.S. residents). Please talk to your financial or legal adviser about the best way for you to leave your charitable bequest to the AWA.
Make a donation of personally owned, turned art to claim as a charitable deduction. When you make a gift of personally owned, turned art, you may be able to claim the fair market value of the donated art work as a charitable deduction for tax purposes. If you would like to make a gift of art, please contact us. Here’s how it works:
- You transfer your ownership of the artwork to the AWA.
- The AWA sells the artwork and uses 100% of the proceeds to benefit programs and services that promote woodturning education (or an initiative of your choice).
- You receive gift credit and an income tax deduction (U.S. residents) for the fair market value of the artwork.