North Carolina 4-H Development Fund

The NC 4-H Development Fund, is a non-profit, charitable and educational corporation as defined in Internal Revenue Service code 501(c) 3. It operates under the auspices of the NC Agricultural Foundation, Inc., at North Carolina State University, Raleigh, NC 27695.

4-H Wristbands
Show your support for the NC 4-H by wearing the new 4-H wristband.

Often the highlight of North Carolina 4-H Congress . . . the Candlelighting Ceremony at Dorton Arena is the culminating event of this week-long 4-H experience, a solemn look back at the year’s work, and quiet contemplation for the year ahead.

Deductions for life income gifts
Donors will receive a deduction based on the remainder value that will come to The NC 4-H Development Fund or other charities at the conclusion of the life interest of the beneficiaries. The calculation of the deduction is based on the ages of the beneficiaries, the rate of income to be paid, the fair market value of the gift and the federal discount rate in effect for the month the gift is made or either two of the previous months.

Carry forward and deduction limits on charitable gifts
Taxpayers are limited as to the amount of charitable deduction that may be used each tax year. The charitable income tax deduction for gifts of cash to The NC 4-H Development Fund or other public charities may be used to offset up to 50% of the donor's adjusted gross income for the year of the gift. This limit also applies to those instances when a donor either chooses or must deduct the cost basis of an asset. For gifts of appreciated property held for more than one year, the deduction may be used to offset up to 30% of the donor's adjusted gross income for the year. Any excess deduction that may not be utilized in the year in which the gift is made may be carried forward for up to five additional tax years. The donor must use the deduction up as quickly as possible and may not "pick and choose" which years to use it.

For more information on making an outright or planned gift and the benefits you and your family might enjoy, please contact the NC 4-H Development Fund Office at 919-515-3944 or email nc4hdevelopmentfund@ncsu.edu.

Gifts of Life Insurance
Naming one of our foundations as owner and irrevocable beneficiary of the policy will generate an income tax deduction for you. The charitable deduction will depend on several factors including what, if any, premiums are still to be paid. This may be a cost efficient way to provide a significant gift in support of 4-H.

You may also designate The NC 4-H Development Fund as the beneficiary or contingent beneficiary of your group term life insurance through your employer. This method of giving will not generate a current income tax deduction, but it will remove the value of the insurance from your estate. Your human resources division may assist you with making such a designation on your group term policy.

Example: A donor named the 4-H Development Fund as beneficiary of a life insurance policy. Funds were to be used to establish an endowment named in the donor’s honor that would support leadership education for 4-H teens.

For more information contact Michael Martin at nc4hdevelopmentfund@ncsu.edu.