IRA and Stocks

Support SIM’s mission in a way that may also benefit your financial planning. Making a gift of a qualified charitable distribution from a Traditional IRA or stocks are excellent ways to support SIM while potentially reducing your tax burden.

We recommend that you consult your tax or financial professional for advice before making charitable donations.

IRA Qualified Charitable Distributions:

If you are 70½ or older and have a Traditional IRA, you can make a qualified charitable distribution (QCD) directly from your IRA to SIM.

You can find detailed information in this article about the tax advantages of IRA donations: https://www.investopedia.com/taxes/can-i-use-money-my-ira-donate-charity/.

Benefits of IRA Charitable Distributions:

• No Additional Income Tax: Because the funds go directly to SIM, they are not counted as income, which could lower your overall tax liability.
• Satisfy RMDs: If you are 73 years of age and are required to take minimum distributions from your IRA, a QCD can help you meet this requirement.

To make a qualified charitable distribution, contact your IRA custodian and request a direct transfer of funds to SIM. It’s a simple way to support SIM while reducing your taxable income.

Gifts of Stocks:

Donating stocks is one of the most tax-smart ways to give. These types of gifts can make a significant difference for SIM while potentially offering you meaningful tax benefits.

Benefits of Stock Gifts:

• Avoid Capital Gains Taxes: When you donate appreciated stock, you can avoid paying capital gains taxes on the increased in value.
• Tax Deduction Benefits: Donating appreciated stocks can result in a larger tax deduction because you can claim the stock’s fair market value rather than just your original purchase price.
• Maximize Charitable Giving: By donating stock, you can give more to the charity than if you sold the stock and donated the proceeds.

Please fill out this form to donate stock distributions.