Ways to Give
(including checks, money orders, etc.)
This is still the most common way to make a charitable gift. When you give to Hickory Cove, we will provide a receipt showing the amount of your gift and the fact that no goods or services were given in exchange for your gift. Because Hickory Cove is a 501(c)3 corporation, your gift is usually tax-deductible. This means that, if you are in the 27.5% tax bracket, a gift of $1,000.00 will save you $275.00 in taxes. Please contact your tax adviser for actual tax financial benefits.
Wills, Charitable Trusts, and other Estate Planning Gifts
There is a wide variety of ways that you can donate money to Hickory Cove through estate planning. This is a very detailed subject and we suggest that you contact your attorney or tax adviser. Of course, we are happy to answer any questions you may have about this area, but we cannot give tax or legal advice.
Gifts of securities (such as stocks, bonds or mutual funds) to Hickory Cove Bible Camp can be one of the most advantageous ways of giving. If your gift is stock or a security that you have owned for more than one year, you may deduct the full fair market value of the stock as a charitable contribution, without having to pay applicable capital gains taxes if it has appreciated. For example, suppose you purchased 100 shares of XYZ Corporation in 1990 at a price of $5.00 per share. The purchase price was $500.00. But now that stock is worth $15.00 per share. If you sold the stock, you would have to pay a capital gains tax (between 10% and 20%, depending on your tax bracket) on the gain, which is $1,000. The tax could be as high as $200.00. But you can donate the stock to Hickory Cove and receive a tax deduction for the entire $1,500. Please contact your tax adviser for actual tax financial benefits.
Special Information for Donating Securities
You are now able to transfer stock directly from your account to the Hickory Cove brokerage account without having to generate a stock certificate. You will need to provide your broker with a letter containing the following information:
- Name of stock and stock symbol
- Number of shares you are donating
- Your account number
- Account to which shares are to be sent:
Hickory Cove Bible Camp—Gift Account
- Hickory Cove Account Number: 4V9760297
- DTC Number: 0443
- Name of Brokerage Firm: Pershing
When the shares are transferred, please contact us to tell us about your gift. We will then send you a receipt acknowledging receipt of the shares.
Gifts of tangible personal property related to the exempt purposes of Hickory Cove Bible Camp are fully tax-deductible at fair market value. As with all non-cash items, it is the responsibility of the donor to establish the correct value of the property. Special rules apply and special forms must be filled out for gifts that are valued over $5,000.00. Please contact your tax adviser for more details.
Gifts of appreciated real estate to Hickory Cove are like gifts of appreciated stock. Assuming that you have owned the property for more than one year, you may be able to deduct the fair market value as a charitable contribution while bypassing all capital gains taxes. There are special rules for donating real estate, so please contact your tax adviser for more information.