Our donors are adapting to maximize the impact of their donation and are choosing these financially smart ways to support The River Food Pantry.
Since 2015, there’s been a law that allows Americans 70 ½ years or older to make tax-free donations from a traditional or ROTH IRA up to $100,000, directly to qualified non-profits, including The River Food Pantry. Transfers must be made directly from your IRA to your charity of choice. You do not need to itemize to gain a tax benefit for your giving.
Gifts of Stock
We are seeing the fastest rise in gifts of stock this year, and it’s a smart way to do good with your investments. Appreciated stocks and mutual funds can be gifted to The River Food Pantry without a capital gains tax for both parties, and you may be able to claim fair market value charitable deduction if you itemize. There is a double tax benefit: tax-saving capital gains plus tax-saving charitable donation deduction. All the transfer instructions for The River Food Pantry are available here and the donation can typically be completed online through your brokerage company.
The AGI limit for cash contributions was also increased for corporate donors. Corporations can now deduct up to 25% of taxable income, which increased from 10%.
We encourage you to contact your tax advisor and financial planner to get started.
For more information or to let The River Food Pantry know about a gift in process, please contact our Director of Development, Julie Wiedmeyer, 608-442-8815, press 7 or firstname.lastname@example.org.