People choose to make charitable gifts for many reasons, including:

• The desire to help others
• A close affiliation with a charitable interest, such as Elon Homes and Schools for Children
• A sense of fulfillment

There can be important financial benefits, too. For example, gifts to qualified organizations and institutions are generally tax deductible in the year they are completed for those who itemize deductions on their income tax return.

Gifts Save Taxes
While tax savings rarely rank as the primary motivation for making charitable gifts, favorable tax treatment can help make your gifts more financially attractive. For example, if you give $1,000 and are in the 28% tax bracket, you pay $280 less in taxes.

Making your gifts in a form other than cash may make it possible to increase your gifts while realizing even greater tax savings.

Complete Your Gifts Early
If you intend to make charitable gifts or take other actions to lower your taxes in 2009, it is important to complete them no later than December 31, 2009. You may want to meet with your advisor now to ensure you have ample time to accomplish your charitable and other financial objectives.

Year-end planning can provide one of the best means for you to minimize taxes, maximize savings, and carry out your wishes.

We will be pleased to work with you and your adviser as you plan your philanthropic gifts in a timely and advantageous manner.

Jane S. Grosse, CFRE
Vice President for Institutional Advancement
(704) 369-2506