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The SaddleBrooke Community Outreach Scholarship (SBCO) Endowment Fund was founded in 2019 with the mission of providing financial support and encouragement for students in the “Copper Corridor” pursuing post-grad education opportunities. Donations are vital to ensuring we can continue to provide scholarships. Together, with our donors, we are creating a lasting change and a brighter future for students in our area.

One of the ways you can make a difference is through a non-cash contribution. In addition to enhancing the chances of obtaining a higher education for those less fortunate, non-cash contributions can provide significant tax benefits for you. Such donations may help you avoid paying capital gains taxes. When giving such a donation, it is important to know the rules for claiming these deductions. They are:

The total deduction is normally capped at 20 percent to 50 percent of adjusted gross income, depending on the type of property donated and the recipient charity.

When donating appreciated stock, to claim the full market value it must be held for more than one year. If held for one year or less, the deduction is limited to the cost basis of the stock.

For donations of real estate, jewelry, or other hard assets, an appraisal is required. The appraisal must be made within 60 days of the donation and include comprehensive information on the property as well as the fair market value. The appraisal must be prepared and certified by a qualified appraiser.

If you are looking for a way to help disadvantaged students in our area obtain a higher education, consider donating an appreciated asset to the SBCO Scholarship Endowment Fund. It is prudent to consult with your tax advisor about such donations given the complexities of IRS rules. Your advisor can ensure you receive the maximum deduction.


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