Supporting the GSA Foundation
Giving Options for Today and the Future
Current tax laws encourage charitable giving as a way to reduce income taxes for those who itemize on their returns. There are several options to give immediately and to include the GSA Foundation in your philanthropic strategy:
This option is the easiest and most effective way to give to the GSA Foundation. Subject to certain tax limits, you can receive a full tax deduction for the amount of your cash donation in the year you make your gift.
These gifts provide steady support for the ongoing work of GSA. Recurring gifts enable you to give larger gifts over time that impact the GSA programs that you care most about.
Thousands of companies and foundations across the United States will match their employees’ cash gifts to non-profit organizations like GSAF. Contact your human resources department for details about your company’s matching gift program and double your impact. If you have questions, please call (303) 357-1054.
Gifts of Securities
Assets that have appreciated in value and are owned for more than one year can result in significant tax savings. You may receive an income tax deduction on the market value, and you bypass any capital gains tax on the gain or growth since the time of purchase.
How to Donate Securities
Provide your broker with the following information:
Name of Account: Geological Society of America Foundation
Name of Broker: Merrill Lynch
DTC Number: #8862
Tax ID: 74-2156871
If you have any questions about arranging a transfer of securities, please contact Jeff Tyler (email@example.com, 303-357-1054).
To ensure all gifts are properly received and acknowledged, please contact Debbie Marcinkowski (firstname.lastname@example.org, 303-357-1047) with your intended fund or program to support before donating securities. Stocks arrive without donor identification, so this is an important step.
Valuing Gifts of Securities
There are special rules for valuing gifts of securities. For stock, the value is determined by taking the average between the high and low stock price on the date the gift leaves your account. Once your stock gift is processed, a tax receipt will be mailed to you stating the name of the stock, the number of shares, and the date it was received by the GSA Foundation. You should determine the value of the gift with your tax advisor.
Charitable rollovers from your Individual Retirement Accounts to support GSA’s mission and programs through the GSA Foundation can be a great way to give at the end of the year. The Taxpayer Relief Act of 2012 restored the popular IRA charitable rollover provision, allowing donors age 70½ or older to realize significant benefits for gifts made from either a traditional or Roth IRA. See benefits of funding charitable gifts from traditional or Roth IRA assets. If you would like to request a transfer of assets to GSAF, you may use this sample letter to your financial advisor to request a transfer.
A donor-advised fund, or DAF, is a giving account established at a public charity. When you contribute cash, securities, or other assets to a DAF you are generally eligible to take an immediate tax deduction. Those funds can then be invested for tax-free growth. When you are ready, you can recommend grants from the DAF to non-profit organizations like GSAF.
If you have any questions about arranging a transfer from your DAF, please contact Jeff Tyler (email@example.com, 303-357-1054).
Bequests provide a way for you to remember the GSA Foundation in your will and can reduce your inheritance taxes. Your will can designate gifts of cash, securities or other property, or a percentage of the remainder of your estate.
Corporations participate with GSA in a number of ways, including sponsorship of meetings, programs, special GSA events, and matching gifts. We can help you connect with students or gain visibility as a supporter of the geosciences. Please contact Debbie Marcinkowski (firstname.lastname@example.org, 303-357-1047) for more information and tailored partnerships.
The GSA Foundation has helped donors establish over 100 named funds that support GSA Programs, Divisions, Sections, and Specialized Research Grants and Awards. Providing support for these established named funds, which can be searched by interest area, is an effective way to honor a distinguished career and increase the impact of a GSA priority in perpetuity.
The minimum to establish a permanent fund is $50,000. If you have ideas for a named fund rather than for contributing to one of the existing, please contact Debbie Marcinkowski (email@example.com, 303-357-1047).
Gifts in Memory
Gifts supporting GSA can be made in memory of a colleague or family member. The GSA Foundation will notify the family of your gift. To complete a gift in memory of a specific person or event: (1) Go to the “Donation” page. (2) Enter the amount of your gift. (3) Select “Greatest Needs of GSA Fund.” Then select “Add” and “Continue.” (4) In the box at the bottom of the screen under “Payment Details,” indicate the person or event your gift is memorializing. (5) Complete your gift transaction.
Neither the Geological Society of America nor the Geological Society of America Foundation are engaged in rendering legal or tax advisory services. The above language is intended solely for general information purposes. For advice and assistance in specific cases, legal counsel should be obtained.