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Give to OMRF -
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Income Tax Savings
Taxpayers are generally permitted to deduct gifts to qualified charitable institutions
If these limits are exceeded or if a combination of gifts of cash and appreciated property totals more than 50% of adjusted gross income in one year, the excess can be deducted over the next five tax years. You may also enjoy additional benefits from state income tax savings. With the Oklahoma Medical Research Foundation's one-of-a-kind Oklahoma tax credit, for every $2 you give to OMRF, you'll get a $1 state tax credit (up to a $1,000 credit for individual tax payers and 2,000 for married couples filing jointly). Find out more Capital Gain Tax Savings There are special giving opportunities when long-term capital gain property is donated. Under the federal income tax law and the laws of many states, property that has increased in value and been held long enough to qualify as long-term property may be given and deducted at full value rather than at its original cost. Long-term, appreciated property that is given also avoids capital gains tax at the time of the gifts, which can help you make a larger gift than might otherwise be possible. Please call 405/271-8137 or 1-800/522-0211, extension 8137, or e-mail the OMRF Development Department for details
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