The Cooper Union qualifies as a "public" charitable organization and meets the requirements of Internal Revenue Code Section 501(c)(3). Gifts to Cooper Union are deductible at the highest limits allowed for federal income or estate tax purposes.
Estate Tax Deductions
Testamentary gifts are deductible at 100 percent of the value of the assets donated to The Cooper Union.
Income Tax Deductions
You may deduct gifts of cash (or elect to deduct only the cost basis of an appreciated asset) up to 50 percent of your adjusted gross income in a year. Normally, gifts of appreciated capital assets may be deducted up to 30 percent of your adjusted gross income. Excess deductions may be carried over for up to five additional years.
The tax benefits associated with specific types of gifts are included throughout the following sections of our website:
- IRA Gifts
- Gifts of Property
- Life Income Gifts
- Charitable Lead Trusts
- Life Insurance and Retirement Accounts
Helpful forms and publications can be found on the IRS website.
Contact our staff with your specific questions and let us provide you with detailed gift illustrations that apply to your personal situation.
Donna Lippman | Director of Planned Giving | The Cooper Union
30 Cooper Square, 8th Floor, New York, NY 10003-7120
Phone: 212-353-4172 | Fax: 212-353-4327 | Email: firstname.lastname@example.org