The Benefits of Giving

A year-end contribution to FMA gives you the opportunity to select the amount of your deduction, to schedule the timing of your gift, and to determine the type of contribution you will make - options few other deductions provide. For example, you may choose to make your contribution in the form of tangible personal property, real estate or securities. In this way, you have the advantage of a deduction without affecting your cash on hand.

• Cash contributions
  In general, you may deduct up to 50 percent of your adjusted gross income for a charitable contribution. An excess deduction may be carried-over to the subsequent five tax years.
• Real Estate
  A gift of real estate enables you to deduct the fair market value of the property you contribute, provided you have held the property for longer than one year. You are allowed a deduction of up to 30 percent of your adjusted gross income for the year in which you make the contribution; the amount in excess can be carried over and deducted for the next 5 years.
• Tangible Personal Property
  The amount of your deduction for a contribution of tangible personal property (items such as art, antiques, and the like) depends on the type of property contributed and how it will be used. In general, you will realize maximum tax savings if the contribution is one which can be used in a manner related to its charitable purpose.

Please contact us directly for more details.