Major Gifts Program
The Herkimer ARC is able to accept most types of major gifts, defined as a gift valued over $1,000. Major gifts may be made with gifts of cash, appreciated property or stocks. All gifts of property must meet the property requirements of the Herkimer ARC. Major gifts may be made through a deferred gift or as an outright gift. The Herkimer ARC is able to recognize major gifts as tailored to donors’ wishes.
Gift of Stock:
The Herkimer ARC is able to accept stock as a charitable gift very easily through a transfer into an established account. Although there are several ways to convey the donor’s gift of stock, please let the Herkimer ARC know in advance if the donation is transmitted to us electronically. In this way the Herkimer ARC is prepared for the transfer. Also, at the point of contact, the Herkimer ARC will send the donor the contact information for the Herkimer ARC’s broker and account information necessary to complete the transfer. The Herkimer ARC’s policy is to immediately sell all stock conveyed and to immediately acknowledge the donation. Of course all donors should consult with their financial advisors, but the donation of a gift of stock may result in an income tax deduction, and/or a savings on capital gain tax, and/or a savings on estate taxes.
Gift of Property:
Real property, in many instances, is the largest single component of an average estate. Selling property usually involves substantial capital gains taxes. Charitable gifts of real estate may offer a part of a solution to this tax situation. There are several ways such a gift may be made: gifts of one’s entire or partial interest in property, gifts to a life estate or gifts of a remainder interest in a personal residence or farm, or a bargain sale of an interest in property. All gifts of property must meet property requirements of the Herkimer ARC
For further information concerning major gifts, contact the VP - Fund Development at (315) 574-7000 or email.