You can distribute some of your assets now to lower your tax burden, while still making long-term legacy-giving plans. Options include:
Donor Advised Funds
A donor-advised fund (DAF) allows you to make charitable contributions and receive an immediate tax deduction. The funds are managed by a DAF custodian, and the donor can recommend grants to their preferred nonprofit organizations. You can contribute to the fund over time and recommend grants to charities at your discretion, making an immediate impact and providing flexibility in your giving strategy. Log in to your donor-advised fund account or contact your fund administrator to submit a grant request.
If you choose to support NPAT, please contact us to let us know to ensure that you are properly acknowledged and that your grant gets put to use as you intend.
Qualified Charitable Distributions
A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are age 70 ½ or older to make gifts directly from their Individual Retirement Account (IRA). The QCD is not included in your taxable income, which can reduce your overall tax liability. They can also count towards satisfying an individual’s Required Minimum Distribution (RMD) for the year, which is the minimum amount that an individual must withdraw from their IRA each year once they reach age 73.
If you wish to make a Qualified Charitable Distribution, contact your IRA custodian to get started. Instruct your IRA custodian to distribute up to $100,000 directly to NPAT or more eligible charities.
Stocks and Securities
Many people choose to give stocks, securities, or mutual funds instead of gifts of cash. Giving appreciated assets like these help you avoid paying capital gains taxes, and can give you an income tax deduction for the full value of the gift, if you’ve had the assets for more than one year. The securities are sold and the funds put directly to use for our mission.
Give appreciated assets now and enjoy the benefits or add us as a beneficiary of these assets in your will and eliminate estate and inheritance tax, making the most of your gift.
Have Questions? We’re Here to Help.
We would be honored to discuss how your impact can last far into the future. Contact NPAT Development Director Jeff Sargent at [email protected] or 972-275-9255 if you’ve included us in your will or with any other questions about planned or legacy giving. Thank you!
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Disclaimer: Certain forms of gifts may be subject to review prior to acceptance.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
Header photo: Dragonfly at Clymer Meadow by Kirsti Harms.