Other Ways to Give
Tax-smart options to consider when making a gift to Help The Persecuted.
Starting in 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) expanded the deductibility of charitable contributions to incentivize charitable giving during 2020. The Consolidated Appropriations Act (the “CAA”), which was passed on December 27, 2020, extended and expanded many provisions of the CARES Act for 2021, which continues to make this a favorable time for making charitable contributions.
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Gifts of marketable securities (stock) may be more tax efficient than gifts of cash. As securities grow in value, their sale may require payment of capital gains taxes. A charitable gift of appreciated securities (that have been held for at least a year and a day) in most cases avoids the capital gains tax.
For example, Mr. Smith acquired $25,000 of stock in the X Corporation a few years ago. The current value is $100,000. If he were to sell the stock today, he would have to pay the current capital gains rates for both Federal and State taxes. But since he has owned the stock for more than a year and a day, he can gift the stock to Help The Persecuted and receive the full value of the stock as a tax deduction. He would also avoid the capital gains tax on the $75,000 appreciation.
You can initiate a gift of stock using these instructions.
IRA Charitable Rollover
IRA Charitable Rollovers enable individuals at least 70 ½ years or older to transfer up to $100,000 per calendar year, tax-free, from their Individual Retirement Account (IRA) to a qualified charity by the end of the calendar year.
- If you are 70 ½ or older and own an IRA, you can give up to $100,000 per calendar year.
- Your gift must be complete on or before December 31 of the calendar year in which you choose to utilize the IRA Charitable Rollover gift vehicle for tax purposes. Generally, if sent by US mail, the postmark determines the date of gift.
- Your gift must be made to a qualified public charity, such as Help The Persecuted.
- Distributions must be made directly from your IRA to Help The Persecuted. Do not withdraw the funds yourself and pass them on to Help The Persecuted or your gift will not qualify for the IRA Charitable Rollover and will be included in your taxable income.
- You can only make outright gifts. The IRA Charitable Rollover cannot be used to fund life income gifts (such as charitable gift annuities or charitable remainder trusts).
What are the advantages of making an IRA Charitable Rollover Gift?
- You can count your gift toward your annual required minimum distribution.
- Your distribution is not recognized as income on your federal income tax return. Note: you cannot take a federal income tax charitable deduction for your gift.
- Under current federal tax laws, keeping your IRA distribution out of your adjusted gross income may save you taxes.
- The transfer process is quick and requires minimal paperwork.
How to make your gift:
- Instruct your IRA administrator to mail a check directly to:
Help The Persecuted
Atlanta, GA 30325
- Please make sure that your administrator encloses a letter along with your check stating your name and noting that it is a qualified charitable distribution from your IRA. This information can also be stated in the memo line of your check.
Give a tax-smart gift from your digital wallet. Donate with cryptocurrency here.
If you have to transfer to another cryptocurrency or to fiat prior to donating, you lose the full tax benefit of donating directly to a nonprofit in cryptocurrency. From a tax perspective, this is very similar to donating appreciated stocks to a nonprofit.
Rescue, Restore, and Rebuild Lives For Years to Come!
Your role in encouraging and supporting persecuted Christians around the world can extend beyond your lifetime. You can make a significant gift to the ministry while also providing for your family by including Help The Persecuted in your estate plan.
Want to Explore Other Tax-Smart Giving Options?
There are many strategic ways to give that can provide greater tax efficiency and increase your impact. Contact us for more information.
Federal Tax ID: 83-1799054