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There are many ways to give to Prescott
College:
1.
Gifts of Cash
 The
easiest way to give to Prescott College is through our secure
online
giving site. Checks may also be made payable to Prescott
College, or cash gifts can be made by automatic cash transfer
or by a credit card charge. Your gift may be designated for
a specific project or academic department or you may leave
it unrestricted, which allows the board of trustees and the
president the greatest flexibility to respond to the College's
needs.
With a gift of cash,
you may deduct the value of your gift, up to 50 percent of
your adjusted gross income, as a charitable contribution in
the year the gift is made. If your gift exceeds this amount,
you may carry forward the excess deduction on your income
tax returns for as many as five additional years. Cash gifts
are considered transferred on the date they are hand-delivered
to Prescott College or postmarked.
2.
Gifts of Publicly Traded Stocks and Securities
Gifts of stocks or securities often provide a greater tax
benefit to the donor than a gift of cash. Appreciated securities
that have been held for more than 12 months can be deducted
from your taxable income at their fair market value, without
paying capital gains tax on the appreciated portion of the
gift. The annual deduction limitation is 30 percent of your
adjusted gross income. A five-year carry-forward privilege
is available for gifts in excess of the 30 percent limitation.
Gifts of stocks
or securities are valued at their fair market value on the
date the certificates are transferred to Prescott College.
For publicly traded securities, the fair market value is computed
as the average of the high and low market prices on the date
of transfer.
Securities that
have decreased in market value from the time of purchase can
still be used to make a significant gift to Prescott College.
If you sell the securities and give Prescott College the proceeds,
you can deduct both the loss and the contribution.
Gifts of closely
held stock (usually stock in a family-owned business) are
another means of contributing to Prescott College. The securities
must have been held for over 12 months for the donor to deduct
the fair market value. A qualified appraisal is required for
gifts of this type that exceed $10,000.
Stocks or securities
may be transferred directly to one of two Prescott area brokers
who work with the College:
Wells
Fargo Investment Services
Phoenix, Arizona
(602) 378-4002
Attention: Doug Safford
Prescott College Account Number #12821815
DTC #0025
A.G.
Edwards
Prescott, Arizona
(928) 778-7780
Attention: Monty DeLozier
Prescott College Account #5120-5074
DTC #0201
Please ask your
broker to inform the Prescott College Development Office (928)
350-4501 of the following:
- The number of shares
- The type of shares
- The name of the issuing company
If you wish to
present the College with an actual stock or bond certificate,
please obtain and date a stock/bond power form, which you
can acquire from your broker, or from the Prescott College
Development Office. You can request a form by telephoning
the Prescott College Development Office (928) 350-4501.
Sign the form where
the signature can be Medallion guaranteed. (Banks and brokers
often provide Medallion guarantees.)
Mail the signed,
guaranteed stock/bond power and the unsigned security certificate
in separate envelopes to the Business Office. If you wish
to make a gift of securities from more than one company or
issuing agency, the donor must mail a stock-bond power for
each.
On receipt, Prescott
College will use the date on the stock-bond power as the date
of the gift. If there is no date on the stock-bond power,
the postmarked date will be used.
Contact Joel Hiller,
jhiller@prescott.edu,
for more information about making a gift of stock.
3.
Gifts of Mutual Funds
If you wish to make a gift of Mutual Funds, contact your broker
or the mutual fund company and ask what they require to effect
a gift to Prescott College. Usually, a Change of Ownership/Transfer
form must be filled out by you and mailed to the Prescott
College Development Office, 220 Grove Avenue, Prescott, AZ
86301. Your broker or fund company will furnish you with the
form upon request. The College must then open an account with
the mutual fund to receive the transfer. Please contact the
Prescott College Development Office at (928) 350-4501 with
information about whom the College must contact to obtain
the account application. If your broker provides you with
an account application for Prescott College, please send it
along with the Ownership/Transfer form.
Contact Joel Hiller, jhiller@prescott.edu,
for more information about making a gift of Mutual Funds.
4.
Gifts of Real Estate
Your residence, farm, vacation home, and commercial or other
real estate that you have owned for more than 12 months may
be used to make a major gift to Prescott College. An entire
piece of property or an undivided fraction thereof can be
donated. A gift of real estate enables you to realize a tax
deduction, avoid capital gains liability, and, if desired,
retain lifetime occupancy for you, your spouse, and possibly
an additional person. Lifetime occupancy is limited to noncommercial
property and farms.
Prescott College
may continue to use the real estate. If the College is unable
to use the property, it may be sold and the proceeds added
to the endowment or used for any purpose designated by the
donor.
Your gift of real
estate must be appraised by an independent, qualified appraiser
to determine the value of your gift. Prescott College may
choose to have an environmental review of the property before
real estate is accepted.
Bargain sale: In
some instances, you may choose to sell property to Prescott
College for less than its fair market value. The difference
between the fair market value and the actual sales price is
deductible as a charitable gift. If the sale involves capital
gain property, the proportion of gain allocated to the selling
price is recognized by the donor.
Your attorney or
tax accountant can advise you of the full benefits of supporting
Prescott College with a gift of real estate. If you wish,
the Prescott College Development Office would be pleased to
give you the name of Prescott College Alumni who work as attorneys
and/or accountants who can advise you about the benefits of
supporting Prescott College.
Contact Joel Hiller, jhiller@prescott.edu,
for more information about making a gift of Real Estate.
5.
Gifts of Personal Property
The College welcomes gifts of personal property that may be
of value to the College in fulfilling its educational mission
or that can be sold for the benefit of the College. Assets
related to the educational mission of Prescott College (books,
art work, scientific instruments, outdoor gear, photographic/visual/performance
art supplies and equipment) may be deducted from your tax
liability at an amount equal to their fair market value. Gifts
of material goods unrelated to the College's mission are deductible
on the basis of their cost to the donor.
Contact Joel Hiller, jhiller@prescott.edu,
for more information about making a gift of Personal Property.
6.
Gifts of Life Insurance
A donor with a modest income can sometimes make a major donation
to Prescott College through a gift of life insurance. New
or existing policies naming Prescott College as the owner
and/or beneficiary can be given to the College. You can contribute
an existing policy that is paid in full or one for which premiums
are still owing. An income tax charitable deduction is allowed
for your cost basis in the policy or its replacement cost,
whichever is less. If you choose to continue paying premiums,
those may be used as an income tax charitable deduction as
well.
Purchasing a new
policy and irrevocably naming Prescott College as the owner
and beneficiary is an excellent way to ensure a major gift
and pay for it over a period of years. Each premium paid can
be deductible as a charitable gift.
Contact Joel Hiller, jhiller@prescott.edu,
for more information about making a gift of Life Insurance.
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