In this season of giving, there are many ways to 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.
A donation of appreciated stock gives you a dual tax benefit. You 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.
If you are age 72 or above, another option to consider is a transfer from your IRA directly to the CBF or another charity of choice. Once you have reached the age of 72, you are able to transfer up to $100,000 from your IRAs tax-free by giving it to a charity like the CBF, and it can count as your required minimum distribution for the year without being taxable income.
Finally, in addition to the many ways you can make a difference right now, there are several ways you can leave a legacy of justice and make a longer-term impact by making a planned gift to the CBF. Learn more about some of the ways you can do that on the CBF website, and feel free to contact us as well.
Whatever way you choose to give, the common thread is it all makes a difference. Thank you again for all your support of the CBF and our partner organizations throughout the year and happy holidays!