Annual Giving
It is important that if you believe in the foundation's mission that you support its efforts with a regular, annual donation. There are many ways to give to the Foundation, depending on your individual situation.

A gift by check
A gift by check is the most common and convenient way to give to Grosse Ile Educational Foundation. Gifts may be made outright or pledged over a period of up to five years. Checks should be made payable to Grosse Ile Educational Foundation. If you prefer, you may charge your gift through MasterCard or Visa. If you itemize your tax deductions, your gift is fully deductible up to 50% of your adjusted gross income. Any excess may be carried forward for up to five additional years. If you wish to designate the use of your gift, you may do so at the time you make the gift by enclosing a brief note.

Appreciated Securities
A gift of appreciated securities such as stocks, mutual funds, and bonds can provide attractive benefits. An outright gift of long-term appreciated securities (securities held for more than a year) avoids capital gains taxes and in most cases, the donor obtains a charitable income tax deduction equal to the market value of the securities. For gifts of property, your gift is fully deductible for up to 30% of your adjusted gross income and, like gifts of cash, may be carried forward for five additional years.

Gifts of Closely Held Stock
An owner of closely held stock may give the stock to Grosse Ile Educational Foundation and receive important financial benefits. Closely held corporations are corporations whose stock is owned by family members and/or by business associates. The stock is private in that it is not publicly traded, and in most cases there are restrictions on the transfer of the stock to third parties.

Donors considering a gift of closely held stock must not enter into a prior written agreement with either the closely held corporation or a potential third-party purchaser. The transfer should be an arms-length, independent transaction. Donors who make gifts of appreciated assets should consult with their attorneys or tax advisors.

Outright Gift of Closely Held Stock
In an outright gift of closely held stock, the donor typically transfers stock to Grosse Ile Educational Foundation. To determine value, the donor has the stock appraised and obtains a charitable income tax deduction equal to the appraised value of the stock. The appraisal must be conducted by an appraiser who is knowledgeable in establishing the value of closely held stock. The Grosse Ile Educational Foundation then redeems the stock to the corporation and receives a check for the redemption price. It is important that the appraised price reflect the redemption price. If the stock is sold within two years, Grosse Ile Educational Foundation is required to notify the Internal Revenue Service.

Redemption of Closely Held Stock
The stock may also be transferred through a purchase of the stock by the closely held corporation's Employee Stock Ownership Plan. In this case, the stock is reacquired for redistribution by the corporation to its shareholders or to the Employee Stock Ownership Plan.

Instead of redeeming the stock to the closely held corporation, Grosse Ile Educational Foundation may transfer it to a third-party purchaser as long as there are no restrictions on the ability to transfer the stock.

Gifts of Real Estate
You can make a gift of commercial or residential real estate to Grosse Ile Educational Foundation and receive substantial financial benefits. In some cases you may want to give the property outright to support the purposes of Grosse Ile Educational Foundation and qualify for a charitable income tax deduction based on the appraised value of the property. In other cases you may use a home or land you no longer want or need to fund a life income gift. All gifts of real estate must be approved by the Board of Directors at Grosse Ile Educational Foundation.

Life Insurance
There are several ways in which a donor may use life insurance to make a gift to Grosse Ile Educational Foundation:

• Make a gift of an existing life insurance policy.
• Establish a new policy and name Grosse Ile Educational Foundation as the owner and beneficiary of the policy.
• Use life insurance to replace the value of gifts to Grosse Ile Educational Foundation.