Here are some of the most popular options to keep in mind instead of donating cash:
- If you own stocks, bonds, or mutual funds and want to avoid capital gains taxes: By donating appreciated assets, you can avoid capital gains tax, and often receive the full market value of your gift as a tax deduction. Upon receipt, the charity liquidates the asset to receive the market full cash value.
- If you are 70.5 or older and want to lower your IRA taxable income: A Qualified Charitable Distribution (QCD) from a taxable individual retirement account (IRA) allows you to directup to $100,000 to a charity, and thus avoid paying income tax on your required minimum distribution (RMD).
- If you want to make the most of your Donor-Advised Fund (DAF): By making a grant recommendation from your DAF, you can donate a gift with the money you've already set aside for charitable support without spending any additional funds.
To make gift of stock please have your broker contact us at [email protected].
Our charitable tax ID number is 95-1916050.