Stock or Bonds
In addition to giving cash, you can give stock or bonds. Giving long-term appreciated stock is one of the most tax advantaged ways to make charitable gifts. By transferring appreciated stock and mutual fund shares to NCLC that you have owned for more than one year, you will avoid the capital gains tax on the securities appreciation and receive an income tax deduction for the average value of the shares on the day that they are transferred to our brokerage account. There are several ways you can transfer securities to NCLC so please contact us for the instructions that best fit your situation.
Retirement Plan Assets
A gift of your retirement assets – IRA’s, 401(k), and other qualified plans, is one of the most tax-wise ways to support NCLC after your lifetime. A gift of these assets can shield your heirs from taxes while funding NCLC’s future. This gift is easy to arrange – no need to change your will or living trust. If you are over 59 ½ years of age, you might also consider an outright gift from your IRA or 401(k) or 403(b) plan. While the withdrawal will typically be a taxable event, your charitable deduction will completely offset the taxable income, provided you itemize your deductions and can claim the full deduction in the year you make the gift.
Life insurance is a valuable asset for making a charitable gift. It can be made without diminishing other investments or assets earmarked for family members. You can designate NCLC as the sole beneficiary or in combination with family members as the beneficiary of a life insurance policy. In addition, you can name NCLC as a beneficiary of other financial instruments you might own, such as commercial annuity contracts, bank accounts, and investment accounts. Alternatively, you can transfer ownership to NCLC of a paid-up policy during your lifetime, and receive an income tax charitable deduction.
Other Gift Arrangements
We would be happy to discuss other gifts that might be of interest to you, such as personal property, real estate, or charitable trusts. A gift of real estate allows you to preserve your cash assets, receive tax and income advantages and make a significant charitable gift to NCLC. Gifts of artwork, coins, antiques, or other personal property can also be an excellent way to support NCLC.
For more information please contact Steve Hurley at 617/542-8010.