Non-cash assets can make a big impact for Coal Creek Meals on Wheels - with less of a financial cost to you!
Stocks, securities, and mutual funds
Many people choose to give stocks, securities, or mutual funds instead of gifts of cash. Giving appreciated assets like these help you avoid paying capital gains taxes and can give you an income tax deduction for the full value of the gift (if you've had the assets for more than one year).
You can give appreciated assets now or add us as a beneficiary of these assets and eliminate estate and inheritance tax, making the most impact with your gift.
Once the assets are transferred, they will be sold and the funds will be put directly to work for the greatest impact - and you will receive a tax receipt for the full value of the assets.
Qualified Charitable Distributions from your IRA (QCDs)
A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are age 70 ½ or older to make gifts directly from their Individual Retirement Account (IRA). QCDs can count towards satisfying an individual’s Required Minimum Distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.
If you have a traditional IRA, you can instruct IRA custodian to distribute up to $100,000 directly to one or more eligible charities. The QCD is not included in your taxable income, which can reduce your overall tax liability.
Donor-Advised Funds (DAF)
A donor-advised fund (DAF) allows individuals to make charitable contributions and receive an immediate tax deduction. The funds are managed by a DAF custodian, and the donor can recommend grants to their preferred nonprofit organizations. Donors can contribute to the fund over time and recommend grants to charities at their discretion, providing flexibility in their giving strategy.
Log in to your donor-advised fund account or contact your fund administrator to submit a grant request to support Coal Creek Meals on Wheels (Tax ID: 84-0634856).