Tax Smart Giving Options Available at Cure Blindness Project
“We have supported Cure Blindness Project for many years because they provide life changing eye care first in Asia and now across the globe. Giving sight to a blind person is a most wonderful act. Over the years, we have seen so much growth from this organization and how they build sustainable health care systems and wonderful medical staff training in each country they visit,” say supporters Delia and Christopher Tam of Tallahassee, Florida.
On advice of a financial planner, they opted to make a stock transfer as opposed to a cash donation to offset taxes as well as receiving a tax dedication for their annual taxes. “The website made the donation easy to complete, and we received a tax-deductible receipt very quickly,” the Tams report.
Cure Blindness Project and their partnership with FreeWill, a secure, online giving platform, allows tax-savvy donors to give with confidence and maximize their charitable gift.
Whatever your reason for giving, acting with tax efficiency can help maximize your gifts and your impact. Some tax-smart options for charitable giving include:
Stocks
A donation of appreciated stocks allows you to avoid capital gains taxes in addition to being eligible for a tax deduction based on the full market value of your stock gift.
QCDs
A qualified charitable distribution (QCD) is a distribution of funds from one’s IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization.
Donor-Advised Funds (DAF)
A philanthropic savings account that provides you with an immediate tax deduction, and allows you to recommend grants to your favorite charities at your convenience, including ours.
Cryptocurrency
Similar to a gift of stocks, cryptocurrency, like Bitcoin, can be donated directly without a penalty of capital gains tax. A donor is able to claim a federal tax deduction for the full, fair market value of the gift.
Bequests
A bequest, where you leave a charitable gift in your will, can lessen the tax burden on your estate while ensuring ongoing support for Cure Blindness Project.
"Many of our donors have contacted us to express their satisfaction with tax-smart giving. These gifts allow our donors to support our work, while simultaneously maximizing their tax deduction," explains Ruth Bolan, Chief Development Officer.
Preserving one’s financial health while making a difference in the lives of others; this is the potential of tax-smart giving. Join Cure Blindness Project’s circle of compassionate and generous donors whose contributions are more than a financial transaction but a beacon of hope for those living with blindness.
