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ABYC Foundation |
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Cash
Cash is the easiest, simplest, and most popular type of charitable gift. Most of the gifts to the ABYC Foundation are in the form of cash, from people simply writing a check! If you itemize, your outright gifts of cash are fully deductible for federal income tax purposes, up to 50 percent of the donor's adjusted gross income (AGI). If your total gifts should exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years. This tax advantage can make the net cost much less than the actual amount of the gift.
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