Types of Outright Gifts
Gifts to The King's College are Tax-Deductable
Cash donations in the form of credit card transactions or checks made out to The King’s College are the most common types of charitable gifts. King’s will send you an acknowledgement of your gift dated the day your donation is received. Checks may be mailed to:
The King’s College
Office of Advancement
New York, NY 10004
You may give securities either by transfer of the certificate of ownership or through account transfer arranged by your broker. In each case, you avoid the tax on any potential gain and receive a deduction for the full fair market value of securities.
You may donate all or part of your personal or vacation residence, commercial property, farm or other real estate either as an outright gift or as part of a life-income plan. Tax savings and other benefits will vary according to the method you choose, your personal circumstances and the value of the property.
Life insurance affords a practical means of making a gift to The King’s College. If you name the College as the owner and beneficiary of the policy, the policy’s value is a charitable contribution in the year of transfer. If the policy is not fully paid up, you will be entitled to a charitable contribution deduction for each subsequent premium payment.
Naming the College as the primary or alternate beneficiary of a policy (but not the owner) will not provide a current deduction for either the value of the policy or the premiums paid. However, your estate will be permitted to deduct the amount of the proceeds payable to the College for estate tax purposes and you will be able to confer a significant benefit on the College at a relatively modest annual cost.
If you wish to ensure that the proceeds of life insurance be available for the support and maintenance of your surviving spouse before going to the College, a variety of trust arrangements can accomplish this. Please confer with your attorney or financial planner as to your specific financial and estate-planning situation. We would be pleased to provide you or your advisors with more detailed information about how your gifts would ensure the future success of the College.