Duke University qualifies as a “public” charitable organization and meets the requirements of Internal Revenue Code Section 501(c)(3). Gifts to Duke are deductible at the highest limits allowed for federal income or estate tax purposes.
Estate Tax Deductions
Testamentary gifts are deductible at 100 percent of the value of the assets donated to Duke.
Income Tax Deductions
You may deduct gifts of cash (or elect to deduct only the cost basis of an appreciated asset) up to 60 percent of your adjusted gross income in a year. Gifts of appreciated assets may be deducted up to 30 percent of your adjusted gross income. Excess deductions may be carried over for up to five additional years.
The tax benefits associated with specific types of gifts are included throughout the Gift Plans in Detail section of our website:
Gifts to the Iron Dukes
The IRS allows a deduction on contributions where there is no benefit to the donor. Federal law does not allow an income tax deduction for any gift to Duke that provides the right to purchase tickets for seating at an athletic event in a Duke stadium. Note that federal law also prohibits the use of gifts from a donor advised fund or private foundation if tangible benefits, such as the right to purchase athletic event seating, are received.
If you would like to support the Iron Dukes and waive any benefits you would otherwise receive, please indicate this desire in correspondence included with your contribution. For questions about the deductibility of your gift to the Iron Dukes, please contact your personal tax advisor.
The Internal Revenue Service Contributions (Topic 506) webpage includes links to documentation forms and publications, including: