January 2019 Volume 15


Alvin Binns
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The Kingston College Old Boys Association of Atlanta GA (KCOBA GA Inc) in 2019 will be expanding its operations into investments and assets acquisition. Most of the new operations will be handled by the new company “Scientia LLC “. The focus of the company is to acquire assets through donations and investments. Everyone will have the opportunity to donate assets to Kingston College or any other High School Alumni Association of your choice. Philanthropy can not only give you great personal satisfaction but also can give you;

  • A current income tax deduction for the fair market value, as determined by a qualified independent appraisal.
  • A greater gift to charity—charities don’t pay capital gains taxes, so the full value of your gift goes to causes you care about.
  • Eliminate capital gains tax exposure

There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will, or designate a charity as a beneficiary of your retirement plan or life insurance policy. Or, if your gift is substantial, you can establish a private foundation, community foundation or donor advised fund.

Direct Gifts to Charities

KCOBA GA Inc. will focus primarily on direct donation to charity. This choice provides immediate income tax and estate tax benefits and guarantees that the gift goes to the charity of special interest. Direct gifts may be made during your lifetime or through a bequest after your death.

How does it work?

KCOBA GA Inc. is a 501(c)(3) public charity. When you make a charitable contribution to KCOBA GA Inc., you won’t have capital gains exposure because you’re gifting—not selling—the property; this means your charitable gift, and your tax deduction as well, may be over 20% higher.

Considerations for donating assets:

· * The asset must be “highly marketable” and ideally will be highly appreciated.

· * While the charity will consider investment property with an income stream, the charity’s due diligence process for investment property is considerably more involved.

· * The asset generally must be debt-free.

· * The individual must be willing to irrevocably transfer the asset to the charity, which will exclusively control the sale, including negotiating the sale price.

Please speak with a Wealth Management Specialist for other methods of donating such as Charitable Remainder Trust, Charitable Lead Trust and Private Foundations

Below are two links one can used to see their tax bracket and a calculator to calculate tax savings from your donations .

Please contact 205-862-6005 albinns@yahoo.com for more information

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