Gift of Cash
An immediate cash gift is the simplest and most common charitable gift. The tax receipts are normally used to offset taxes payable in the same year.
Gift of Appreciated Securities
The federal budget of May 2006 eliminated capital gains tax on gifts of publicly traded securities to a charity. This is a very attractive option for those who have publicly traded securities that have appreciated and have accumulated a tax liability. When ownership of securities is transferred to the Foundation, the donor does not incur capital gains tax and will receive a tax deduction for the market value of the transfer. The charity then realizes a cash benefit by selling the securities. Depending on the amount of appreciation, donors can realize considerable tax benefits from this type of donation.
This donation must be an “in kind” transfer of the security itself, not the cash proceeds of the sale of the security. Contact COPA for a form to accomplish this transfer.