The Internal Revenue Code allows for gifts of up to $13,000 to be tax - free ( according to 2010 rates ) .
The largest decline would probably be in gifts above that amount for endowments and capital campaigns .
The Internal Revenue Code allows for gifts of up to $13,000 to be tax - free ( according to 2010 rates ) , so the largest decline would probably be in gifts above that amount for endowments and capital campaigns .