A charitable gift of cash is tax deductible if it is listed as an itemized deduction on the federal tax return. The state of Michigan also allows a state income tax credit for Michigan residents and corporations. Securities and real estate Popular alternatives to cash are gifts of appreciated property, such as securities and real estate. Such gifts generate a double tax benefit. In addition to receiving an income ax charitable deduction for the full, fair market value of the property, the donor escapes any potential tax on the capital-gain element on the gifted property.
Securities includes stocks, bonds and mutual funds.
Matching Gifts More than 1,000 corporations nationwide match employee gifts to Central Michigan University. Many also match the gifts of retired employees and their spouses. Companies that provide these matching funds supply the form to submit with the gift. If your employer is a matching gift company, you may obtain a form from your company's personnel or community relations office. A life payment plan can allow a donor to make a substantial gift to CMU while still providing to a donor's personal financial needs.