Did you know that many of our supporters give non-cash gifts, such as stocks, QCDs and grants from donor advised funds? We encourage you to explore these “tax smart” options, which offer you tax benefits while providing us with sustained support.
Your financial advisor/trustee will need Steep Rock’s Tax ID# to complete QCD and DAF transactions: 06-6069060. For more information about these giving methods, wire transfers, or any other aspect of our work, please contact us at (860)868-9131 x106.
Appreciated Stock
If you own stocks or other appreciated assets that have increased in value, you can donate them to Steep Rock Association. This method not only allows you to avoid paying capital gains tax but also permits you to deduct the full fair-market value of the asset from your income tax.
Donor Advised Fund
Grants from Donor-Advised Funds (DAFs): A DAF is a philanthropic vehicle that allows you to contribute cash or non-cash assets, receive an immediate tax deduction, and recommend grants from the fund over time. You can establish a DAF with many financial institutions or community foundations, and recommend a grant to Steep Rock, providing us with invaluable resources to continue our work.
QCDs
Qualified Charitable Distributions (QCDs): If you are 70½ years or older, you can make direct transfers of up to $100,000 per year from your Individual Retirement Account (IRA) to Steep Rock. These contributions, known as QCDs, can satisfy your required minimum distribution (RMD) for the year, and you will not have to pay income tax on the transfer.
