In this season of giving, there are many ways you can make a difference in supporting the CBF and other organizations you care about. Every gift to the CBF makes a difference in building a fairer and better justice system, and there are several ways you can make an even bigger and long-lasting impact while getting some notable tax advantages.
A donation of appreciated stock gives you a dual tax benefit. You can avoid paying taxes on the capital gains and you can write off the full value as a donation when you itemize your taxes so long as you have owned the asset for over a year. When considering a gift of stock, it’s best to start the process at least a week before December 31. Most investment firms require a letter of instruction or authorization to transfer shares to charity, and a mutual fund donation may require you to take additional steps.
Donations from your IRA account are another great way to support if you have reached the age of 70 ½. You are able to transfer up to $100,000 from your IRA tax-free to the CBF once you have reached that age, and if you are at least 73 years old, it can count as your required minimum distribution for the year without being taxable income.
A planned gift for the future is another way you can supercharge your impact. By designating the CBF as a beneficiary of your will, trust, donor advised fund, life insurance policy, and/or retirement account (like an IRA, 401(k), or other qualified retirement plan), you can leave a legacy of justice that extends well into the future.
If you are considering making a planned gift to the CBF, check out our website to learn more about the various opportunities and how you can become a member of the Abraham Lincoln Marovitz Legacy of Justice Society. Feel free to contact us as well.
And you can always make an impact today by giving online, mailing a check, or working with your donor advised fund to give to the CBF. It all makes a big difference! For help donating, contact CBF Director of Development Sang Yup Lee or learn more on the CBF website.
Thank you again for your support for the CBF and our partner organizations throughout the year, and happy holidays!