A gift to the Center in the form of securities (stocks or mutual funds) or real estate will not only avoid capital gain taxation, but may provide additional tax savings for you as well.
Some financial institutions have Donor Directed Charitable Funds, in which you donate cash or property to the fund, receiving an immediate tax deduction. You choose the investments and decide when funds are released to charities such as the Center.
Retirees who have attained the age of 70½ and are required to take the yearly Required Minimum Distribution (RMD) from their IRA accounts, and take the standard deduction in calculating their income taxes, may find QCDs to be particularly useful. You can request a transfer from your IRA account directly to the charitable organization of your choice. While you would not receive a charitable deduction for this transfer, the amount of your transfer would not be included in your gross income or be subject to federal income tax. This transfer would count for the purposes of your required minimum distribution. Please consult with your tax advisor regarding the “Qualified Charitable Distribution” (QCD) from an IRA and find out if you can benefit from this tax provision.
If you want to make a designated donation to a specific fund or ministry at the Center such as our radio program, video ministry, music department, etc. please contact Linda Hann, Chief Operating Officer, at (707) 546-4543, ext. 101 or email@example.com.
We are a 501(c)(3) nonprofit organization. Federal ID 94-2239294. Please consult with your financial and/or tax advisor and legal counsel regarding tax benefits for charitable giving. We do not give tax advice.