By Leah Aslett and Lisa Justice
The fiscal cliff sounds rather scary, but you could turn the coming changes in our tax code into something really good for a local nonprofit.
As we gear up for 2013 and all the tax changes that are coming, we hope you will consider Explorit Science Center among your charities of choice. When you give to Explorit you help us in our quest to foster an understanding of science at it relates to all aspects of our lives, and the critical thinking skills to interact with an increasingly complex technological society.
These skills have become a fundamental need for all members of our community. Unfortunately, because of budget cuts, lack of training for our teachers and changes in curriculum standards, our schools are not able to focus on hands-on, STEM (science, technology, engineering and mathematics) studies.
Explorit Science Center provides a wide variety of educational, hands-on science experiences through our traveling and on-site programs, museum exhibitions, summer camps, community science project and other special events throughout the year. But we can’t do it without your help. And this year, thanks to our friends in the capital, you have a special opportunity and reason to give.
According to the Urban Institute “gifts of appreciated property (e.g., corporate stock, investments, real estate) receive an additional tax benefit, in that taxpayers do not have to pay capital gains tax on the unrealized gain while recognizing the full market value for purposes of the charitable deduction. A higher capital gains tax rate increases the incentive to donate appreciated property to charity, rather than realize the gain and face capital gains tax. ATRA (the American Taxpayer Relief Act of 2012) increased the highest tax rate on long-term capital gains from 15 to 21.2 percent.”
So, as you make your charitable decisions, you may wish to consider a gift of appreciated securities — common stock, bonds or mutual funds — to further your charitable and financial objectives while simultaneously supporting education. Making such a gift may qualify you for certain tax benefits and deductions. (Please consult your tax professional for more details.)
If you are interested in making such a charitable donation please contact Explorit Science Center. Donors may transmit gifts of marketable securities to Explorit Science Center through their broker or by mail. In each case, a letter of instruction or notice of transmittal outlining the intended purpose of the gift is appreciated.
So turn a potential tax burden into a marvelous gift to support science education in your local community.
Explorit’s coming events
* Fun on the Farm: Join us every Saturday and Sunday in January for a special farm activity. Free with paid admission to the regular exhibition. This weekend: make milk carton barns.
— Explorit Science Center is located at 3141 5th St. For more information call 530-756-0191 or visit http://www.explorit.org, or “like” us on Facebook at www.facebook.com/explorit.fb.