Gifts of cash
If you itemize, you can lower your income taxes simply by writing us a check. Gifts of cash are fully deductible - up to a maximum of 50% of your adjusted gross income.
Gifts of stock
If you own stock, it is often more tax-wise to contribute stock than cash. This is because a gift of appreciated stock generally offers a two-fold tax savings. First, you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive an income tax deduction for the full fair market value of the stock at the time of the gift.
Gifts of life insurance
A gift of life insurance can provide a significant charitable deduction. You could purchase a new policy or donate a policy that you currently own but no longer need. To receive a deduction, designate Girl Scouts of the Commonwealth of Virginia as both the owner and beneficiary of the life insurance policy. Check with your insurance agent for the details.
Girl Scouts of the Commonwealth of Virginia can be named as beneficiary in your will in any of the following ways:
- An outright gift
- With a designated dollar amount of a percentage of the value of your estate, or
- GSCV can be named as a remainder beneficiary to receive funds only after specific sums have been paid to individual beneficiaries.
Check with your estate attorney to learn more.