Federal tax law encourages individuals to share their resources for the benefit of others by providing tax deductions for contributions to non-profit organizations. The laws make it possible to give generously at a reduced true cost to the benefactor. Individuals may deduct as much as 50% of their adjusted gross income for charitable purposes. Under current tax laws, corporations may deduct contributions up to 10% of their net taxable income. Federal tax savings for both individuals and corporations may be as much as 39% of the amount contributed.

Donations of appreciated securities and real estate are popular today because a double benefit is received. A donor may deduct the full market value of the asset while avoiding the capital gains tax. Both individuals and corporations are allowed a five year carryover of unused contributions.

All gifts and contributions are tax deductible. The Kaskaskia College Foundation is a non-profit 501 (c) (3) tax-exempt organization.

Charitable giving to non-profit tax-exempt organizations warrants special tax considerations and each donor should contact his or her tax consultant for their own special treatment, especially in consideration of a complicated or creative gift.