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Appreciated Assets

Contact

Beverly Holmes

Vice President for Advancement

2 East South Street

Galesburg, IL 61401-4999

309-341-7755

888-566-9265 (TOLL FREE)

bholmes@​knox.edu

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A gift of long-term appreciated assets can be advantageous to both you and the College. Examples of long-term appreciated assets include publicly traded securities, real estate, and personal property (such as works of art, rare books, and antiques).

An outright gift of appreciated assets to Knox College can provide the following advantages:

  • You may claim in the year of the gift a charitable income tax deduction for the fair market value of the gift, up to 30 percent of your adjusted gross income. You can then carry any excess deduction forward for a period of five additional years.
  • You may avoid payment of capital gains tax on the appreciation you have realized on the property. This results in a gift that is greater in value than its cost to you.
  • A gift of appreciated property will remove that property from your estate, possibly resulting in a reduction in estate taxes.
  • You will know that your gift will have a genuine and lasting impact on the College and its educational mission.

For specific information about your situation, we recommend that you consult your financial and legal advisors. In the meantime, our brief descriptions may help you choose a direction.

Publicly Traded Securities

If your securities are held by a broker, you can transfer them to Knox College by instructing the broker to e-mail Rose Garrison at rgarriso@knox.edu or call her toll free in the United States 888-KNOXCOL (888-566-9265), or at 309-341-7233. Please also let us know that you have instructed your broker to transfer the securities so that we can follow up with the broker as appropriate.

If you hold the stock certificates yourself, you can make your gift through the mail or by hand delivery. To make your gift through the mail:

  • Send the unsigned stock certificates by certified mail to the College, along with a letter in which you state your intent to donate the certificates and any restrictions you wish to place on the use of the funds.
  • In a separate envelope, send a signed stock power for each issue. Stock powers may be obtained from a brokerage house or by contacting Vicky Jones, assistant treasurer of Knox College at vsjones@knox.edu or 309-341-7213. The signature(s) on the stock power must be identical in every respect to the name(s) as written on the face of the stock certificate.
  • Please address both envelopes to:

    Office of Advancement
    Campus Box K230
    2 East South Street
    Knox College
    Galesburg, IL 61401-4999

Note: If the value of your stock has depreciated and you can take a deduction for the capital loss by first selling your stock and making a gift of the cash proceeds, it might be to your advantage to do so.

Real Estate

Real estate can be used to make an outright gift or to fund certain types of deferred gifts, such as gift annuities or trusts from which you receive an annual stream of income. If the gift is of a personal residence, it is possible for you to deed the "remainder interest" to the College while retaining the right to live in the residence during your lifetime. In this scenario, you may claim a charitable income tax deduction based on the current fair market value of the College's remainder interest.

Personal Property

You can give Knox College tangible personal property, such as works of art, rare books, and antiques. If this is a possibility, please call the Office of Advancement at 888-KNOXCOL (888-566-9265), or 309-341-7233.

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