Jefferson Community Foundation is a public charity, classified under Section 501(c)3 fo the IRS code. This means all contributions to JCF are tax-deductable.
Specifically, what this means to you as a donor is the following:
- You can deduct the value of your gift for tax purposes in a specific and/or particularly advantageous year, yet provide for the distribution of your donations over a course of time.
- You and your heirs can avoid punitive estate taxes on gifts made.
- With a gift of appreciated stock, you can avoid costly capital gains taxes while realizing the maximum deductibility of your donation.
Compared to many other charitable giving options, including gifts to a separate, private foundation, the rules and regulations governing Jefferson Community Foundation are much less onerous.