An outright gift of securities has an immediate impact on Senior Community Centers. Gifts of marketable, long-term appreciated securities allow you to save taxes in two ways—you receive a charitable gift deduction and avoid all capital gains taxes. Direct transfers can be made by completing the Letter of Instruction for Share Transfer for your broker.
The IRA Charitable Rollover permits those taxpayers to make donations directly to charitable organizations like Senior Community Centers from their IRAs without counting them as part of their AGI and, consequently, without paying taxes on them.
A donor’s total combined charitable IRA rollover contributions cannot exceed $100,000 in any one year. Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Distributions must be made directly from the IRA trustee payable to Senior Community Centers.
Individuals should consult with their tax advisers or financial planners to determine how this giving tool may impact their specific situations.
A gift for endowment demonstrates your enduring commitment to Senior Community Centers. It is maintained in perpetuity and only the income is spent for the purposes specified by the donor. An endowment fund, which typically bears the name of the donor(s), reflects your interests and serves as a testament to your generosity for years to come.