Ways To Give Now
There are a variety of ways in which you can make a charitable gift now to SamaraCare.
An outright gift is just what its name implies: a gift transferred immediately from the donor to SamaraCare. Giving options include:
Gifts in the form of cash, check or credit card are the simplest and most common form of charitable giving. Your tax deduction is equal to the amount of cash you donated, minus the value of any goods or services you received in return.
Gifts of long-term appreciated securities and mutual funds that have been held for more than one year are one of the most popular assets to use when making a charitable gift. When you donate appreciated securities, you can eliminate federal gains taxes on the transfer and be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
Gifts of publicly traded securities can be made by transfer of ownership through a broker. Please call the Development Office for transmittal instructions.
If you want to make a big impact on SamaraCare without touching your bank account or retirement assets, consider making a gift of all or a portion of your appreciated property, such as your primary residence or vacation home, to SamaraCare through an outright deed or through a bequest provision.
When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property’s full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to us, you also eliminate capital gains tax on its appreciation.
In general, residential real estate located within DuPage, Kane or Will counties will be accepted, unless SamaraCare shall determine that the property is not suitable for acceptance as a gift based on marketability, physical condition, zoning restrictions, appraised value, related expenses, environmental issues, liens, loans mortgages or other special conditions that would cause potential additional expense, risk or liability. SamaraCare will attempt to sell such gifts as soon as possible after receipt.
Donor Advised Fund
A DAF gives you the flexibility to recommend how much money is granted to SamaraCare. You transfer cash or other assets to a tax-exempt sponsoring foundation such as a public foundation. You can then recommend, but not direct, how much and how often money is granted. In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account.
Retirement Plan Assets
If you are 70 ½ year or older, you can take advantage of a simple way to benefit SamaraCare and see your philanthropic dollars at work. The IRA charitable rollover provision allows you to make annual tax-free distributions from your qualified IRA’s up to $100,000 ($200,000 per couple) without having to pay income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
These gifts can count toward your required minimum distribution (RMD), which can reduce income and taxes paid. Transfer must come directly from the administrator of your IRA and be postmarked or received electronically by December 31 to satisfy the RMD for the calendar year.