The Marion Technical College Foundation, Inc. was established in 1985 as a non-profit organization to raise funds for student scholarships. The Fund is a separate 501(c)(3) organization that accepts gifts of cash, bequests, trusts, annuities, securities, and insurance.
Year-end giving is as easy as (1) making a charitable gift, and (2) saving taxes. The tax laws intentionally encourage charitable giving. Because of the income tax charitable deduction, individuals who make their gifts by December 31, and itemize can significantly reduce their income taxes.
Example: If you make a charitable gift of $10,000 you can save $3,300 in taxes if you are in the 33% tax bracket, and the higher your tax bracket, the more money you save with a charitable gift.
Giving is, of course, much more than tax brackets and charitable deductions. Philanthropy provides the meaningful difference in what we can do. |
