Information for Donors

Tax Deduction of Gifts to Woodlawn Foundation

The Woodlawn Foundation has been recognized by the Internal Revenue Service as a public charity, contributions to which are tax deductible. Cash contributions are deductible up to 50% of adjusted gross income and contributions of appreciated property are deductible up to 30% of adjusted gross income. Contributions in excess of these amounts may be carried forward and deducted in future years for up to five years.

Pledges Not Legally Binding

Woodlawn Foundation considers all pledges to be good faith expression of intent, but subject to possible future changes of circumstances and not legally binding, either upon the donor or upon his or her heirs.

Gifts of Securities

If you wish to make a gift of securities, please call, or ask your broker to call. Michael Coan at the Woodlawn Foundation to request instructions. Or, if you prefer, you may send the unendorsed certificate and, in a separate envelope, a signed stock power, enclosing with both a letter stating the purpose of your gift.

Gifts of securities can offer a double tax benefit: a tax deduction based on the current fair market value of the gift (the mean between the high and low prices on the date of the gift) and the avoidance of capital gains taxes that would otherwise be assessed on the sale of the property.

Tax Deductions for Gifts Made at Year End

At the end of the calendar year, Woodlawn Foundation must follow strictly IRS regulations for the dating of contributions. These regulations provide that the date of a gift is the date on which it is mailed, not the date on it is received and not the date on the check. Thus, if the Foundation receives a gift in January that was mailed in December, it is a December gift. If it receives in January a gift that is mailed in January, it is required to record as the date of the gift the date of the postmark on the envelope, even if the check is dated in December.

Wills, Trusts, and Annuities

Many Woodlawn donors have obtained substantial personal and tax benefits by making gifts through wills, trusts, annuities and other forms of deferred giving. They also provide in this way major benefits for the work which Woodlawn Foundation is helping to support. To learn more about bequests, life income arrangements or gifts involving real estate or closely held stock, please call or write Michael Coan at the Woodlawn Foundation, 524 North Ave., New Rochelle, NY 10801 914-632-3778.