There are many ways to give to Browning:
Gifts of Cash
Traditionally, the majority of gifts made to Browning come in the form of cash. A gift of cash entitles a donor to the most generous federal income tax deduction available for charitable contributions. You may deduct up to fifty percent of your adjusted gross income for gifts of cash and may carry any amount over that figure forward for up to five additional years.
A gift of appreciated securities that you have held for more than one year is frequently the most economic way to give. You will be eligible to take a federal income tax deduction equal to the fair market value of the stock on the date of the gift for up to thirty percent of your adjusted gross income and will not have to recognize the appreciation as capital gain.
To make a gift of marketable securities, please click here.
Appreciated marketable real estate is another asset with which you may make a significant gift to Browning. A gift of real estate will entitle you to a federal income tax deduction equal to the fair market value of the property. You will need to substantiate this value with an appraisal. You may take this deduction for up to thirty percent of your adjusted gross income and any excess over that amount you may carry over for up to five additional years.
A personal residence, vacation home or farm offers another giving option. You may give a remainder interest to Browning while you retain the right to remain in and maintain the property for life. A gift of such a remainder interest entitles you to an income tax charitable deduction equal to the present value of Browning’s remainder interest. Gifts of real estate must be reviewed in advance of acceptance by the Development Committee.
Charitable Gift Annuity
A gift annuity is a simple contract between a donor and Browning. In exchange for a gift, Browning will pay a fixed and guaranteed income. Income payments may be received immediately for lie or deferred to a future date. The capital is invested in the School’s endowment and the annuity payments are guaranteed by the school.
Charitable Remainder Trusts
A charitable remainder trust is an individually managed trust that may be tailored to the specific needs of the donor or designated beneficiaries. These trusts can be structured to provide income for life or for a term of years. Most important, the trust assets can be managed for income or growth, depending on a beneficiary’s needs. Charitable remainder trusts can accept a broad range of gift assets and are popular because of their flexibility.
Gifts to Browning can come in other forms as well. A gift of closely held stock, tangible personal property (if it is related to Browning’s educational programs) or irrevocable life insurance, are some examples. A gift of any of these assets will entitle you to an income tax deduction equal to their fair market value of the date of the gift. You may take this deduction for up to thirty percent of your adjusted gross income with a carry over of any excess for up to five additional years.
Only you and your family can judge the best way for you to help Browning fulfill its mission for future generations of students and we urge you to consult an attorney before making your gift.
For further information, please contact the Office of Institutional Advancement at 212-838-6280.