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Gifts of Appreciated Assets

Contact

Office of Advancement

2 East South Street

Galesburg, IL 61401

309-341-7233

888-566-9265 (Toll Free)

Fax: 309-341-7770

gifts@​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.

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.

Stocks, Securities, and Mutual Funds

You can make gifts of stocks, securities, or mutual funds now, enjoying potential tax benefits while making an immediate impact on the experience of Knox students and faculty.

You can make your gift in just a few minutes online, using the secure donation tool link below. It will automatically notify Knox of your gift.

Donate Stock

If you prefer to work through a broker, you can transfer securities to Knox College:

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 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. Simply call or email us.

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 the Office of Advancement. The signature(s) on the stock power must be identical to the name(s) as written on the face of the stock certificate.
  • Mail 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. Please contact the Office of Advancement to learn more about donating real estate.

Personal Property

You can give Knox College tangible personal property, such as works of art, antiques, coin collections, vehicles, and other tangible property. Contact us to learn more about this type of gift.

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https://www.knox.edu/support-knox/ways-of-giving/gifts-of-appreciated-assets

Printed on Sunday, July 14, 2024