|
|
 |
 |
|
|
|
|
| How To Give |
| Your Gift Will Help IIT Bombay Become World-Class |
|
Architectural drawing. New Hostel 12/13 made possible by a generous donation from Nandan Nilekani (EE "78)
Under U.S. tax laws, making gifts to the IIT Bombay Heritage Fund (IITBHF), which is a qualifying non-profit
charitable organization, can be an excellent strategy in your financial planning and will help IIT become a
world-class institute of science and technology. In many instances, giving a portion of your assets to IITBHF
will provide you, your spouse and your heirs more to spend during life, while furthering the goals you share
with other IIT Bombay alumni by using dollars to help the students and faculty of IIT that you would otherwise
pay in income and estate taxes. |
|
| |
|
|
| Here are a few of the ways to give... |
|
|
A cash charitable donation can provide direct tax benefits in the year of donation.
Trusts are established for a variety of reasons by people of all income
levels. Examples of how a trust can help you, while also leaving a legacy
in your name at IIT Bombay, include the following:
Provide you or someone else income for life, or for a predetermined
number of years.
Delay distribution of your property or money until your children
reach a preselected age.
Pay college costs for your children and grandchildren, and provide
you with additional income and estate tax benefits.
Help combine charitable giving with tax savings as part of your
financial planning.
Donating real estate to IITBHF outright or in trust can provide tax
advantages to the donor and benefit to IITB. Under some instances the
donor even can continue using the property for life.
Giving life insurance can add flexibility to the donor's estate
planning, especially the insurance was purchased for a reason that has
become obsolete.
Making gifts of securities are especially beneficial for people who
own publicly traded stocks, mutual fund shares and certain other types
of securities that have increased or decreased in value, even if the stock
is in the donor's closely-held business. As appreciated non-cash
property, donating such assets to IITBHF can provide tax deductions for
their full market value. The amount that is deductible includes the
original cost and appreciated value. In effect, the donor gets an income
tax deduction on capital gains income tax not yet paid.
Bequests (place IIT in your will) are made by people of all income
levels and the size of donation varies from small to large.
|
|
 |
|
| Remember,
no gift to IIT is too large or too small |
|
The purpose of the information contained herein is intended to provide general information to inform IIT
alumni of the many benefits of giving to IIT Bombay through the IIT Bombay Heritage Fund.
The IITBHF is not engaged in rendering legal or tax advisory services.
For such advice and assistance, you must use the services of an attorney or other professional advisor.
Watch for changes in tax laws. State laws govern wills, trusts and charitable gifts made in contractual agreements.
Advice from legal counsel should be sought when considering contracts.
|
|
| |
| |
|
©
1996-2004 IIT Bombay Heritage Fund. |
|
|
|
