Gifts of Cash

If you itemize, you can lower your income taxes simply by writing a check. We are a 501(c)(3) charitable organization and your contributions are deductible to the extent allowed by law. There is no easier way to get a charitable deduction! Some employers will match charitable gifts, meaning your gifts are worth even more. If your company has a matching gift program, simply enclose the form along with your check.

Program Sponsorship

The War Memorial is an active community center that services 100,000 people each year. Sponsoring one of our classes, lectures, television shows or special events is a great advertisement for your business or organization. Your sponsorship
will be acknowledged in our calendar of events that is mailed to 20,000 homes in Grosse Pointe and Harper Woods. Call our Lifelong Learning Director for current available sponsorship opportunities.

Gifts-In-Kind

We have several opportunities each year for gift-in-kind contributions. Each year our Summer Music Festival conducts a raffle to benefit our programming department. Contact the Lifelong Learning Director to donate an item or service. We also graciously accept gifts-in-kind for our medical loan closet and facility improvement.

Gifts of Stock

If you own stock, it is almost always more tax wise to contribute stock than cash. This is because a gift of appreciated stock generally offers a two fold tax saving. First, you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive an income tax charitable deduction for the full fair market value of the stock at the time of the gift. Make sure that you have owned the stock for a “long term” period of time (this generally means that you have held the stock for more than one year), to qualify for these significant tax advantages.

Gifts of Real Estate

A residence, vacation home, farm, acreage, or vacant lot may have so appreciated in value through the years that its sale would mean a sizeable capital gains tax. By making a year end gift of this property instead, you would avoid the capital gains tax, and, at the same time, receive a charitable deduction for the full fair market value of the property. It is also possible to make a gift of your home, farm, or vacation home so that you and your spouse can continue to use it for your lifetimes – while you receive a tax deduction in the current year.

Life Income Gifts

If you are considering a major gift, a “life income” gift may be an excellent year end gift. Such a gift can increase your own income! You could transfer stock or cash to us and establish a “charitable remainder unitrust” or “charitable remainder annuity trust” that would provide you with a greater annual return. This income would be paid to you and/or a loved one for life, after which the assets would be distributed to us. Through such an arrangement, you would be increasing your income and making a meaningful (and tax deductible) contribution to us at the same time.

Bequests

While you’re considering your income tax savings, this may also be a good time to consider long term tax savings. The federal estate tax can still take 40% – 50% of one’s estate at the time of death, which is a higher tax amount than the income tax. It definitely pays to do some advance planning with your attorney and other professional advisors. We hope you will consider a charitable bequest in your will – to benefit us while you save estate tax dollars at the same time.

We would be pleased to provide you with additional information and assistance. However, please keep in mind that the information in this publication is general in nature. You should contact your own tax advisor or professional accountant to learn how this information relates to you and your individual circumstances.

Thank you for your interest and support!