Donating stock and mutual funds is a great way to make a significant contribution while avoiding the capital gains tax.
It is imperative that you notify GBSC of your gift prior to transferring the gift.
Donating this way offers two tax savings benefits:
- You can take a charitable deduction for the full current value of the securities.
- You avoid paying the capital gains tax that would be due if the securities were sold.
In-kind gifts are donated goods and services (i.e. provided at no cost to GBSC).
All in-kind gifts must be approved by the Advancement Office. If approved, we will issue a letter and receipt to acknowledge your gift.
We do not provide gift valuation. In accordance with IRS regulations, the donor is responsible for determining the value of an accepted gift.
If you want to claim an income tax deduction for an in-kind gift of more than $5,000, the IRS requires that you complete IRS Form 8283 and obtain a fair market value appraisal.
1. HR Department
Check with your HR department to find out if your company matches employee donations.
Give online or by check today. Be sure to review your company’s matching gift requirements. You may need the following information:
God’s Bible School & College
1810 Young Street
Cincinnati, OH 45202
Employee Identification Number (EIN): 31-0544271
Submit your matching gift request, in one of the following ways:
- Download your company’s matching gift verification form if they have one. Print the form, complete it, and mail to GBSC.
- If your company provides a link to their intranet, use this to log in and submit your matching gift request directly to them. Your company will process your request and send it to GBSC.
Once we receive your matching gift request form or an online request from your company, we’ll take care of the rest. You will be notified when GBSC receives the matching donation from your company.