The trustee manages the proceeds and pays an income to the original donor. E. Insurance Insurance can be used to accomplish charitable objectives in a variety of ways. You may wish to make the Foundation the beneficiary of a policy or to designate us as both owner and beneficiary. You will be able to take a contribution deduction for the replacement value of the policy and may also deduct the premium if you continue to pay them by contributing to the Foundation an annual amount equal to or greater than the premium amount. There are a variety of ways to use insurance programs to combine a donor's charitable objectives with other financial goals.
Donors can claim an income tax contribution deduction for the fair market value of the property.
If you have owned a proposed gift of tangible personal property such as art or jewelry for more than one year, and if we can use it in a manner related to our function, you will qualify for a deduction equal to the full fair market value. Gifts of securities or real estate held by the donor for more than one year are always deductible for the full fair market value.