Other Ways to Give
Are you interested in making a charitable gift that may yield double tax benefits and additional savings? If so, a gift of appreciated stock may be right for you.
A gift of stock may provide more benefits than a cash gift. When you make a gift of stock to the HItchcock Center, by eliminating the capital gains tax that would be due upon selling the stock, you receive tangible tax-savings and benefits while also supporting the humanitarian mission. A gift of stock may be right for you if:
- You are holding stocks that have risen in value. If your stocks are highly appreciated, you may find yourself with a hefty tax bill when it comes time to sell. By using these securities as a gift, you can avoid the capital gains tax on any paper profit.
- You would like to maximize your deduction while not affecting your liquidity. If you decide to make a gift of stock, you not only retain your cash assets, but you also receive a charitable tax deduction for the full fair market value of the stock that you’ve owned for more than one year.
You can show your personal commitment to a healthy planet, and set an example for others by remembering the Hitchcock Center in your will, trust, or other planned gift. No gift has a more lasting impact.
A planned gift also offers you many potential advantages: the opportunity to increase spendable income, the elimination or reduction of capital gain taxes and possibly federal and state estate tax savings.
Please consult with your financial or legal advisor to include such a provision in your will. If you have included the Hitchcock Center in your estate plans, please let us know so that we can properly thank you and acknowledge your generosity.
Qualified Charitable Distributions (QCDs)
Qualified Charitable Distributions (QCDs), also known as IRA Charitable Rollovers, are the savviest way for individuals age 70½ or older to use their IRAs to maximize their charitable impact.
A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as the Hitchcock Center. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
In addition to the benefits of supporting education for a healthy planet, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
Consider donating to the Hitchcock Center through your Donor Advised Fund (DAF)!