Outright Gifts to PCO
Outright gifts include contributions of cash, securities, appreciated properties and written pledges (usually paid within five years). Checks should be made payable to
Pennsylvania College of Optometry Foundation. Any further designation of the purpose of the gift
should be indicated in a letter accompanying the gift or on the lower left corner of the
check. Gifts of securities are credited at market value on the date the
donor relinquishes control of the assets (transfer of stock powers to the College).
For further information, or to request a booklet on this topic, please email lcorboy@pco.edu Voice (215) 780-1392 or write, PCO, 8360 Old York Road, Elkins Park, PA 19027
Gifts of Cash
The simplest gift is a check, made payable to PCO Foundation. Unrestricted gifts strengthen every aspect of college life, supporting operations, scholarship, faculty development, student life, and much more. PCO’s fund raising year spans July 1st through June 30th of each year.
Donors who itemize their deductions may deduct gifts of cash up to 50 percent of their adjusted gross income in a given year. Gifts which exceed this amount can have the charitable deduction "carried forward" for up to five additional years.
To restrict a cash gift to a specific purpose, note the restriction on the memo portion of the check, or send an accompanying letter of explanation.
Gifts of Securities
Appreciated stock which owners have held for more than one year will provide substantial tax benefits to the donor. In addition to receiving an income tax deduction equal to the fair market value of the stock on the effective date of the transfer, the donor will avoid paying capital-gains taxes on the appreciation.
Examples
Three years ago a PCO alumnus bought 200 shares of stock at $25 per share. Today, the fair market value of the shares is $50 per share. If the alumnus sold the stock and paid the capital gains tax, then gave the proceeds to PCO, the gift would total $9,000. |
However, if that same alumnus transferred the stock directly to PCO he/she would pay no capital gains tax and PCO would receive a tax-deductible gift of $10,000. |
||
| Purchase price | $5,000 | Purchase price | $5,000 |
|---|---|---|---|
| Current FMV | $10,000 | Current FMV | $10,000 |
| Gain on sale | $5,000 | Gain on sale | 0 |
| Capital Gains tax (20%) | $1,000 | Capital Gains tax (20%) | 0 |
| Net proceeds | $9,000 | Net proceeds | $10,000 |
| Tax-deductible | $9,000 | Tax-deductible gift | $10,000 |
Gifts are valued at the average of the high and low selling price of the
stock on the date which the donor "relinquished control" - postmark date if
mailed to PCO (with signed stock power mailed separately); deposited in an
PCO account at an approved brokerage; or hand-delivered. Appreciated
securities are also ideal to fund gift annuities and charitable trusts.
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