Charitable Giving

Outright cash gifts can be made through cash, check, or credit card, in person or online.

Your direct gift of appreciated securities, publicly traded, closely held bonds, or mutual fund shares qualifies you for charitable tax deductions and allows you to avoid the long-term capital gains tax on the appreciated value of the asset.

Stocks or bonds held for more than one year that have increased in value, qualify for a charitable deduction equal to the full market value of the gift.

If you own stocks or bonds worth less than the price you paid for them, the wisest course is to sell them and give the cash proceeds. The sale will establish a loss that can offset other capital gains income on your annual tax return.

Gifts of securities are deductible up to 30% of your adjusted gross income, with a five-year carryover of any unused deduction. This makes your gift twice as beneficial. First, you receive an income tax charitable contribution deduction for the total fair market value of the securities, and second, you avoid capital gains tax on the securities’ increased value.

To give a gift of appreciated securities, please contact us to obtain transfer instructions.

If you are 70.5 or older and have a Required Minimum Distribution that you must take from your IRA each year, you can make a tax-free transfer to Garden Spot Village to lower your tax burden. These tax-free transfers are called Qualified Charitable Distributions, and they count toward your Required Minimum Distribution. You may transfer up to $100,000 per year to qualified charities like Garden Spot Village.

To qualify, funds must be transferred directly by the IRA custodian to Garden Spot Village. Distributed amounts may be excluded from your income—resulting in lower taxable income (however, no charitable deduction may be taken).

Including a bequest in your will for Garden Spot Village is a beautiful way to leave a legacy and help provide for the future needs of our community—all without any current impact to your financial situation. You may designate a specific dollar amount to Garden Spot Village or specify that Garden Spot Village receives a percentage of your estate.

An easy way to make a planned gift to Garden Spot Village, is to name us as the beneficiary of your retirement plan or your life insurance policy. “This is easily achieved by filling out a simple form from your plan administrator. There is no need to change your will or living trust to make this provision.

Life Insurance policies can also be used to make a gift to Garden Spot Village; simply request and fill out the beneficiary form from your insurance company naming us as a primary or secondary beneficiary.