Savvy giving to stretch your charitable dollars
Whether shopping, investing or giving, you’re always trying to get the most out of your money. If you’re looking for even more ways to stretch your dollars, consider these four savvy ways to support the Beacon Hill Foundation.
- Give Appreciated Stock – If you’ve owned stock for at least a year, you can receive a double tax benefit by donating it to the Beacon Hill Foundation. Not only will you receive a tax deduction for the stock’s fair market value, but you’ll also avoid paying capital gains.
- Give Real Estate – If you have real estate that’s increased in value and you no longer need it, consider gifting all or a portion of it prior to selling. Doing so allows you to bypass the capital gains and receive a charitable deduction.
- Give from an IRA – If you are 70 ½ or older, you can make tax-free distributions from your IRA, up to just over $100,000 (indexed annually for inflation). These gifts count toward your annual required minimum distribution, and none of the IRA distributions will be included in your adjusted gross income.
- Make a Life Income Gift – Life income gifts are great solutions if you wish to give with impact, but you’re concerned about having enough cash flow to meet your family’s needs. Give cash or other property, then receive steady income for the rest of your life. The remainder of the gift will go to the Beacon Hill Foundation, ensuring that our residents can remain in their cherished home regardless of changes to their financial situation. You are also helping to strengthen our spiritual care, bring high quality programming to Beacon Hill and the surrounding community, support continuing education for our employees, build and sustain relationships with our neighbors, and enhance our beautiful campus.
Want to learn more about smart and savvy ways to maximize your support of the Beacon Hill Foundation? Contact the Foundation at bhfoundation@beaconhillgr.org
