Tax Tip
A charitable gift to the Hawkeye Community College Foundation will provide you with the satisfaction of knowing that your contribution will go to work for many students.
Beyond the usefulness of the gift itself, you may receive tax benefits for your donation. Your gift should be made on or before December 31 of the year in which you wish to receive the charitable income tax deduction.
Corporate Limits
A corporation is permitted to make and deduct philanthropic investments of up to 10 percent of its taxable income. As with individuals, a corporation may carry over excess charitable contributions up to the next five years.
Appraisals
You must obtain an appraisal for any non-cash contributions which exceeds $5,000. The appraisal summary section of IRS Form 8283 must be completed and attached to your income tax return in which the deduction in claimed. No appraisal is required for a gift of publicly traded securities for which market quotations are readily available on an established securities market.
Gift Stewardship
Your gift will be used specifically for the purpose(s) it is given and treated with the utmost care and confidentiality per your instructions.
Consult Your Tax Advisors
The information on these pages is not offered as legal advice. For legal/tax advice, please contact your tax advisor and/or attorney.
Where to Direct Your Gift
The Hawkeye Community College Foundation is the official recipient for all gifts to Hawkeye. Hawkeye Community College Foundation should be designated for all donations of cash or property.
If you need the Hawkeye Community College Foundation’s Tax ID number, please contact the Foundation Office.