Cash gifts are the most popular type of charitable contribution.
Donors qualify for an income tax charitable deduction for the full amount of the gift.
While cash gifts are important and appreciated by charitable organizations like The Cleveland Clinic, many savvy donors have found an even more tax-friendly way to support the Clinic through gifts of assets. When she made a direct gift of her securities to charity, she entirely bypassed the capital gains tax. As this example illustrates, gifts of assets such as securities offer greater benefits to donors than gifts of cash. Nelson Wittenmyer, Esq.