Preserving Selby Gardens' History

The Giving Coast

Selby Gardens announces the last chance this year to preserve their history, safeguard their collections and sustain their future as 2021 comes to a close this Friday. There are many ways to support Selby Gardens’ Master Plan and to take advantage of unique charitable contribution opportunities including: the universal charitable deduction is still applicable for this year through the CARES Act—f you do not itemize deductions on your tax returns, you can take an additional “above-the-line” deduction for gifts made in cash up to $300; if you do itemize on your tax returns, you can gift up to 100 percent of your adjusted gross income this year instead of the normal 60 percent; a few years ago, the government made a formal law that individuals aged 70 ½ and older can make a charitable gift using the required minimum distribution from an individual retirement account without incurring additional income tax on the withdrawal; and, gifts of appreciated stock—you can bypass capital gains by gifting stock that you have held for more than a year. Plus, any and all gifts will be matched dollar-for-dollar up to $2.5 million during the Capping Challenge for Phase One of the Master Plan.

More about the Capping Challenge.

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