Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a gift to Hood College. Making a gift of securities or mutual funds offers you the chance to support Hood College while realizing important benefits for yourself. When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer. For instructions on how to make a gift of securities, click here.
If you are over the age of 70.5, consider using your individual retirement account distribution as a gift to Hood College. You can give directly from your IRA and receive tax benefits. To explore the benefits of giving an IRA gift, click here. To receive tax savings for this calendar year, make your gift by Dec. 31. Please ensure that your IRA administrator includes your name along with the gift.
Be sure to contact your financial advisor to find out what type of gift is right for you. Contact Jaime Cacciola ’04, director of grants and gift planning, at 800-707-5280 (option 7), 301-696-3828 or firstname.lastname@example.org for additional assistance.