Inspired by Warren Buffet, one of our most generous donors shared the message below with us to pass on to supporters like you who share a passion for our goal of driving a cure for celiac disease by 2030.
With the stock market at all-time highs, I don’t blame you. But here’s an even better idea: In order to avoid paying income tax on capital gains and, at the same time be rewarded by your favorite charity like Beyond Celiac, consider donating your most highly appreciated stock positions, mutual funds, ETFs, bonds, REITS, insurance products (hint: check any tech positions first).
The Beyond Celiac development team, working with their investment team at Wilmington Trust, will make the transaction as seamless as possible for you.
Should you be feeling even more generous and tax-averse, consider setting up a donor-advised fund, which you can tap into immediately and any time in the future.
For information on how to make gifts of appreciated assets or any other kind gift, please contact Senior Director of Donor Relations Mary Tackett at 267-419-2106 or [email protected] to discuss further and to have your questions answered.
Thank you for your interest in and support of Beyond Celiac!
As you plan your 2020 year-end giving, please consider a charitable contribution to Beyond Celiac, the organization best positioned to accelerate a cure in 10 years.
Since capital gains may be high for individuals as we close out 2020, there are clear tax advantages for our donors to make gifts of appreciated assets. If you donate long-term appreciated assets like bonds, stocks or real estate to charity, you generally don’t have to pay capital gains, and you can take an income tax deduction for the full fair-market value. It can be up to 30 percent of your adjusted gross income.
In addition, the CARES Act 1. gives donors who plan to take the standard deduction the option to claim an above-the-line deduction of up to $300 for cash contributions to charities and 2. raises the limitation for cash contributions to a public charity up to 100% of AGI (adjusted gross income) for gifts given in 2020 only.
In both cases, the cash donations must be made directly to the nonprofit, not through donor-advised funds or private foundations.
Consult your tax advisor today.
Beyond Celiac does not provide tax, legal or investment advice. Please consult your own tax, financial or legal advisors for any professional recommendations as appropriate.