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Cash, Check, or Credit Card
Gifts of cash are the most common form of contribution to Johns Hopkins. A gift of cash is easy to do, and the gift is not subject to gift or estate taxation. A contribution that you postmark in December is deductible for that tax year—even if Johns Hopkins receives it in January-provided the account against which the check was written had sufficient funds to cover it in December.
A cash gift entitles you to a charitable deduction of up to 50 percent of adjusted gross income. If all deductible gifts in a year exceed the 50 percent limit, you may carry the excess amount over as a deduction for up to five years.
For example, Edna Smith has an adjusted gross income of $50,000 this year. She contributes $35,000 to Johns Hopkins. She may deduct $25,000 this year and carry forward $10,000 to deduct next year.
Pledges
Pledges provide you an opportunity to make a larger gift than you otherwise thought possible by committing your gift over a period of three to five years. Ideally, your pledge should be documented in writing.
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