During tax season, many PIH supporters ask us about tax-smart giving options as they prepare for meetings with their advisors to review their short and long term giving plans. The following are some of PIH’s most popular options for increasing your impact in 2024 and beyond:
- Appreciated Stock: Consider donating your appreciated stock to PIH to avoid paying taxes on the capital gains! If you itemize deductions and you’ve owned the stock for more than one year, you may be able to take a charitable deduction for the full fair market value of the donated assets.
- Cryptocurrency: The tradable digital asset is taxed in a manner similar to stocks or real property and subject to capital gains taxes. When you gift the asset to PIH, you avoid the sale of the cryptocurrency that could trigger adverse tax consequences.
- IRA Beneficiary Designations: Pre-tax assets in your IRA, 401(k), or other qualified retirement plan will be subject to income tax when distributed to a non-charitable beneficiary. Making PIH a beneficiary of your retirement account allows the full value of your donation to benefit PIH patients around the world and may be more tax-efficient for your loved ones. Learn more!
- Donor-Advised Fund “Successor” Designation: If you have a donor advised fund, have you planned for what will happen with the remaining philanthropic-designated dollars left in the account at the end of your lifetime? Did you know you can designate PIH as a charitable beneficiary of your fund? You may have the opportunity to designate PIH as your preferred choice. Contact your donor advised fund institution to ensure your succession plan is in place!
Giving in Retirement:
- IRA Gifts (Qualified Charitable Distributions): Are you 70.5 or older, and do you have a traditional IRA (or know someone who does)? In many cases, IRA giving is 100% tax-free and can help you fulfill your required minimum distribution. Learn more and make your first qualified charitable distribution to PIH this summer!
- Charitable Gift Annuities: If you are at least 60 years old, you can receive fixed income payments for life with a gift of cash or securities to PIH. Run a sample calculation or request a personalized illustration today!
- IRA-Funded Charitable Gift Annuity: After a recent legislation update, donors may also be able to make a one-time gift of up to $53,000 to fund a Charitable Gift Annuity! You can learn more about this unique opportunity here!
If PIH is already in your charitable estate plans, thank you, and please tell us, either by emailing email@example.com or by sharing through our online page! We want to thank every PIH legacy supporter, welcome them into Tom’s Circle, and ensure we can fulfill each intended legacy.
Thank you for your critical support and for intentionally considering how PIH can help you achieve your financial and philanthropic goals and how you can help cure injustice.
To request support with tax-smart giving or establishing your legacy gift plan, please contact our Gift Planning team at firstname.lastname@example.org or 857-880-5717.