Other Ways to Donate

Qualified Charitable Deduction (QCD)

A Special Opportunity for Those 70½ Years Old and Older: You
can give any amount (up to a maximum of $105,000) per year from your IRA
directly to a qualified charity such as the Norwich YMCA.

A Qualified Charitable Deduction (QCD) is a direct transfer
of funds from your IRA custodian, payable to a qualified charity. QCDs can be
counted toward satisfying your required minimum distributions (RMDs) for the
year, as long as certain rules are met.

In addition to the benefits of giving to charity, a QCD
excludes the amount donated from taxable income, which is unlike regular
withdrawals from an IRA. Keeping your taxable income lower may reduce the
impact to certain tax credits and deductions, including Social Security and
Medicare.

Also, QCDs don’t require that you itemize, which due to the
recent tax law changes, means you may decide to take advantage of the higher
standard deduction, but still use a QCD for charitable giving.

The distribution rules can be complex so it’s a good idea to
consult your accountant or attorney.

One Time Gifts of Apreciated Securities

  • One-time gifts are the most common type of gift from
    donors. This gift to the YMCA, powers our programs and services and creates
    action for the betterment of our community.
  • A one-time gift can be given in a fiscal donation or
    appreciated assets, like a gift of stocks or mutual funds.
  • We are a 501(c)(3) non-profit organization, and your gift
    is tax-deductible. And we make sure that 100% of your contribution stays in
    your community, right here powering your own neighborhood.

Planned Giving

 

Planned gifts are a variety of charitable giving methods
that allow a donor to express his or her personal values by integrating
charitable and financial goals. Often a planned gift will be structured with
the assistance of a financial advisor or an attorney to guarantee the donor’s
desired legacy. A “planned gift” is synonymous with the term “deferred giving,”
“gift planning,” and “estate gift.”

There are many types of giving vehicles which will permit a
donor to express his or her wish to leave a legacy to the YMCA. The most common
planned gifts are bequests (made through a will) and life insurance policies
naming the Norwich YMCA as a beneficiary. Other types include:

• Bequests through a Will or Living Trust

• Life Insurance Beneficiary

• IRA or Retirement Plan Beneficiary 

• Charitable Gift Annuity

• Charitable Remainder Trust

Substantiation of Contributions


A donor can deduct a charitable contribution of $250 or more only if the donor has a written acknowledgment from the charitable organization. 

The donor must get the acknowledgement by the earlier of:
1. The date the donor files the original return for the year the contribution is made, or
 
2. The due date, including extensions, for filing the return.
The donor is responsible for requesting and obtaining the written acknowledgement from the donee.

A donor cannot claim a deduction for any contribution of cash, a check or other monetary gift made on or after January 1, 2007, unless the donor maintains a written record of the contribution.