Unique Non-Cash Donations to Kids In Crisis
Like many of us, your mailbox and email inbox often contain nonprofit donation appeals. Please consider Kids In Crisis as your top cause to support. Here are a few tips to make sure you are making the most of your generosity:
- Donate Non-Cash Assets
Consider donating non-cash assets if you want to support Kids In Crisis without dipping into your cash reserves. For example, consider donating the stock directly instead of selling stock and then donating the cash proceeds. This move could eliminate capital gains taxes. Contact your broker for more details. Please inform us about your donation (company, ticker symbol, number of shares, or approximate dollar value) for proper acknowledgment. Anonymity is also an option; direct your broker accordingly. - Satisfy RMDs with Charitable Donations
Are you 72 or better? Utilize your required minimum distributions (RMDs) from your IRA account through a non-taxable qualified charitable distribution (QCD). This strategy lowers your taxable income. For 2023, you can transfer up to $100,000 from your IRA to Kids In Crisis. - Donor-Advised Funds (DAFs)
Get DAFfy with Your Kids In Crisis donations! A donor-advised fund (DAF) account is akin to having your own family foundation. Set this up through financial institutions like Vanguard, Schwab, Fidelity, or your local community foundation. If you need to add the identifying number when you sign up Kids In Crisis for the first time, our EIN 06-1027885. You can start with a minimal amount and choose from various investment options. It’s convenient, potentially anonymous, tax-deductible, and allows family involvement in philanthropy. - Legacy Gifts through IRA Beneficiaries
Consider leaving a legacy by naming Kids In Crisis as a beneficiary of IRA assets. Inherited non-Roth retirement accounts are usually subject to ordinary income tax. Proper charitable donations of retirement assets can minimize the income taxes imposed on your heirs and estate.
For any questions regarding these Non-Cash Donations to Kids In Crisis, please don’t hesitate to contact me, Rick Reichert, at 203-622-6556 or rreichert@kidsincrisis.org. We are immensely grateful for your consideration and support.
If you’re considering a legacy gift for Kids In Crisis, our partner, Smith Legacy Law, is offering a free consultation to review your options and help you make a decision.
Smith Legacy Law will also provide the related legal services on a pro bono basis for any donor wishing to add a charitable bequest to a will or revocable trust or create a charitable trust (Charitable Lead Annuity Trust or Charitable Remainder Trust) to benefit Kids In Crisis.*
*Please note that this offer extends to work to benefit Kids In Crisis; any other work that does not benefit Kids In Crisis would be considered billable.
https://smithlegacylaw.com (203) 489-5362