Gifts of Appreciated Property- One of the most efficient means of giving is that of utilizing appreciated property. The IRS allows a deduction for the full fair market value of assets such as stocks, bonds, and real estate transferred to the SMSA. Such gifts offer a substantial tax savings over gifts of cash based on your individual tax circumstances, are subject to Alternative Minimum Tax consequences, and therefore should not be made without professional tax advice.
Life Insurance-A Life Insurance Policy provides a unique method of establishing your endowment. You may utilize policies you currently own or you may acquire a new policy specifically structured to fulfill your endowment objective.
Gift of Undivided Interest- A Gift of Undivided Interest is a contribution of a complete interest in a portion of a property. This gift should be made prior to any firm contract for sale.
Split Interest Gifts-Split Interest Gifts occur when a contribution is divided and shared by you and the SMSA. Generally, these parts consist of an "income" or "use" interest and a remainder interest. The government only allows a charitable deduction for these gifts when made under specific guidelines. Examples are:
Bequest - A provision in a Last Will and Testament can be used to fund a perpetual named scholarship with assets accumulated over a lifetime. Scholarships funded at the time of one's death can be added to by friends and relatives wishing to make memorial contributions.
See sample bequest language below.
"I give and bequeath to the Seabee Memorial Scholarship Association, Inc., Springfield, VA, the sum of $____________ for the purpose of establishing the ____________________ Named Scholarship"
To discuss these and other planned giving options, contact SMSA Chief Development Officer Dan Miller at 859-327-1830 or
The information provided here is general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.