The holidays bring a rise in giving for most non-profit organizations, including schools. Annually, about one quarter of all charitable gifts are made from Thanksgiving to Christmas, due both to the proximity to the end of the tax year and the altruistic tendencies brought on by the season. Most non-profits invest a great deal in holiday solicitations and efforts such as Giving Tuesday, immediately following Black Friday and Cyber Monday.
If you itemize deductions when you pay your income taxes, your charitable gift qualifies you for a tax deduction.
The amount of the deduction is based on your tax bracket. In some cases, up to 85% of the gift is deductible under current tax laws.
Gifts of appreciated securities allow the donor to avoid capital gains.
If an investor has held an appreciated stock or mutual fund for more than one year, they can donate those securities and receive a tax deduction for the fair market value of the securities, and eliminate any capital gains assessments.
Gifts of depreciated securities are also tax deductible and the capital loss can offset capital gains in the current year and possibly into the future.