Accurate records are kept according to state, organization and donor. All cash contributions are acknowledged regardless of the amount. Federal employees can contribute automatically through the Combined Federal Campaign. Donors appreciate the tax deduction that gifts of cash provide, reducing the actual cost of the gift. The preferred method to contribute a gift of cash is to write a check payable to the American Legion Child Welfare Foundation , PO Box 1055, Indianapolis, Indiana 46206 Credit Card Gifts may also be made on-line by credit card via secure server.
All gifts received by credit card are tax deductible and is acknowledged by an official receipt.
Marketable Securities Outright gifts also include marketable securities, which are listed on an exchange. The average fair market value of the securities on the date of the gift is deductible as an itemized charitable contribution for federal income tax. Gifts of stock may qualify in your state as a tax credit. Real Estate Certain tax advantages apply to gifts of long-term appreciated real estate. These gifts typically provided an immediate income tax deduction and avoidance of capital gains tax.