A gift of long-term appreciated assets can be advantageous to both you and the College. Examples include publicly traded securities, real estate, personal property, closely held stock, and cryptocurrency.
Advantages of making an outright gift to Knox include:
A charitable income tax deduction for the fair market value of your gift, up to 30 percent of your adjusted gross income, with any unused deduction carried forward for up to five additional years
Avoiding capital gains tax on the appreciation of the gifted asset
Removing the asset from your estate, which may reduce future estate taxes
Knowing that your gift has a meaningful and lasting impact on Knox students and faculty
For specific guidance related to your tax or financial situation, we encourage you to consult your professional advisors.
Stocks, Securities, and Mutual Funds
You can make gifts of stocks, securities, or mutual funds now, enjoying potential tax benefits while supporting the Knox experience.
1. Use our Secure Online Tool (Fastest and Easiest)
You can complete your gift in just a few minutes using our secure online tool, which guides you through the process and automatically notifies Knox.
Your broker can transfer securities to Knox College using this information:
Stifel Nicolaus A/C#5688-4097 DTC#0793 1181 N. Henderson, Suite 1; Galesburg, IL 61401 309-315-6166 (phone) John Herman, broker Lisa Nelson, client associate
Please let us know when you have instructed your broker to initiate the transfer so we can follow up as needed.
3. Gifts Using Paper Stock Certificates
If you hold the stock certificates yourself, you can make your gift by mail or by hand delivery.
To make your gift through the mail, send the unsigned certificates by certified mail along with a letter stating your intent to donate 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 the Office of Advancement. Signatures must match the names on the certificates.
Mail both envelopes to the Office of Advancement, Campus Box K230, 2 East South Street, Knox College, Galesburg, IL 61401-4999.
Note: If your stock has declined in value, you may benefit from selling it first to realize a capital loss and then making a gift of the cash proceeds.
Cryptocurrency
Cryptocurrency is another appreciated asset that can offer significant tax advantages when donated directly.
Benefits may include:
A charitable deduction for the fair market value of your cryptocurrency if you have held it for more than one year
Avoiding capital gains tax on the appreciation
A quick and secure giving process
To give cryptocurrency, please use our secure online platform, which provides simple instructions and a receipt for tax purposes.
For questions about donating cryptocurrency or how it might fit into your financial planning, please contact the Office of Advancement.
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 charitable trusts that provide income. If the property is your personal residence, you may deed the remainder interest to the College while retaining the right to live in the home for your lifetime.
The charitable deduction is based on the fair market value of the College’s remainder interest. Please contact the Office of Advancement to discuss a potential real estate gift.
Personal Property
You may donate tangible personal property such as artwork, antiques, rare books, musical instruments, vehicles, or collections. We are happy to discuss how your gift can best support Knox and ensure it aligns with our acceptance guidelines.
Closely Held Stock and Business Interests
Gifts of closely held stock, partnership interests, or LLC interests may also be considered. These gifts can offer meaningful tax advantages, although additional documentation or valuation may be required.
If you are considering a gift of a business interest, please reach out to the Office of Advancement for assistance.
