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There may be occasions when you wish to donate various properties to St. John's, both to benefit the parish as a whole and to help decrease your own tax liability. In general, contributions of this nature are not "quid pro quo" contributions (that is, you expect no particular payment or services in return). As a rule of thumb, contributions of property are most typically limited to the fair market value of the property at the time of contribution, and it is usually understood you are contributing your entire interest in the property. There are a number of types of properties that may be donated. Generally speaking, all such properties must have market value to qualify you for a tax credit for your contribution. Examples of types of properties include: real property (land, houses); tangible personal properties (jewelry, rare books, cars, etc.); capital gains properties (stocks, bonds, etc.); ordinary income properties; or others. For a better explanation of what these are, you can refer to IRS publication 526, "Charitable Contributions," which more fully covers the limits and types of contributions. The purpose of this form is merely to make your desire to contribute known to St. John's; any matters involving actual donation of property will be followed up with a call from the Rector to discuss it with you, and a recommendation will be made on how best to proceed. We appreciate your consideration of such a donation to St. John's. Please note that all fields must be completed before the form will be properly transmitted. Do not include sensitive information such as account numbers, as this is not a secure form. |
© 2003, St. John's Episcopal Church, Royal Oak, MI