Tax Advantaged Giving
Qualified Charitable Distributions from an IRA
Qualified Charitable Distributions (QCDs) are a way to give to charities using money from your pre-tax Individual Retirement Account (IRA) if you're older than 70½. Instead of taking money out and paying taxes on it, you can direct it to a charity. This has several benefits: you don't pay taxes on the distributed amount, it may help fulfill your Required Minimum Distribution (RMD), and your donation supports a cause you care about. It's a smart way to give and save on taxes at the same time, especially if you're not in need of the money for personal expenses.
Donor Advised Funds
A Donor Advised Fund (DAF) is like a charitable investment account. When you put money into this account, you get a tax deduction for that year. The funds can be invested and grow tax-free. Later on, you can direct which charities receive donations from your account. It's a way to plan your giving and make a bigger impact over time. The fund administrators handle the logistics, so you can focus on choosing where your money goes to help causes you care about.
Appreciated Stock Gift
An appreciated stock gift means giving stocks or shares of a company or mutual fund that have grown in value over time. Instead of selling the shares and paying taxes on the capital gains, you can directly donate them to The Ballard House's investment account. It's a smart way to make a positive impact while also reducing your tax liability.
Leaving a Legacy
Including The Ballard House in your will is a special way to ensure your support continues even after you're gone. You can do this by telling your estate attorney that you want to leave a gift to The Ballard House in your will. This gift can be a specific amount or a percentage of your assets. You may also designate The Ballard House as a beneficiary on a life insurance policy or annuity contract. It's like leaving a lasting legacy that helps The Ballard House for years to come.