Consider giving long-term appreciated securities, rather than cash.
Advantages of donating securities (stock, mutual funds):
You save 20% federal taxes plus state taxes
And you get the full deduction if you itemize
You fill out a Form 8283 for your deduction in your tax return
Over 70½? Consider a qualified charitable distribution (QCD) from an IRA.
If you are at least age 70½, have an IRA, another consideration may be to make a QCD from your IRA. This action can satisfy charitable goals and allows funds to be withdrawn from an IRA without any tax consequences. If you are over age 73, a QCD can also be used to satisfy your required minimum distribution (RMD).
With both strategies, it’s really simple! We give you our Vanguard account number to wire the money into. We call you to let you know it was received (it takes 5 days). It’s safe and confidential!
We are a charity too!
If you have corporate matching, think of us for this! It’s a great way to participate at a higher dedication level.