Gifts that reduce your taxes
Consider making a gift with long-lasting impact for families in need of safe and affordable housing.
Stock gifts
A donation of stock can be a beneficial way to give. A charitable gift of stock held for more than 12 months offers a two-fold potential tax savings:
Avoid paying capital-gains tax on the increase in value of your stock, and
Receive a tax deduction for the full fair market value of the stock on the date of the gift
Subtracting the tax savings from what you originally paid for the stock can result in a gift that costs just pennies on the dollar. This is an excellent giving option for stocks that have appreciated substantially in value.
In addition to the attractive tax benefits of a gift of stock or mutual fund shares, you will have the satisfaction of knowing that you are helping families achieve the dream of homeownership.
How to initiate a stock transfer
The fastest and easiest way to make a gift of stock is to have your broker perform an electronic transfer. You can also contact Habitat Huron Valley's broker at the following contact information:
Brokerage Firm: LPL Financial/Bank of Ann Arbor Financial Services
Advisor Contact Name: Diane Winner/Nancy Pashnik
Phone: 734-327-4324
Address: 125 S. Fifth Ave., Ann Arbor, MI 48104
Receiving account number: 6571-5249
Receiving Account name: Habitat for Humanity of Huron Valley
Habitat Huron Valley tax ID: 38-2874694
DTC number: 0075
Finally, when you make a gift of securities, please contact us so we can acknowledge your gift in a timely and efficient manner. For more information or for any questions contact Alison at alison@h4h.org or 734.882.2009.
IRA and Qualified Charitable Distribution Options
Many donors feel that directly transferring funds from IRAs is a great way to help families and create a legacy. This is now a permanent option.
You must be 70½ or older.
An individual may transfer up to a total of $105,000 per year and a married couple may give up to $210,000.
An individual may take a one-time QCD up to $53,000 to fund a charitable gift annuity (CGA) or charitable remainder trust (CRT). Click here for more about gifts with financial benefits for you.
Your gift must be transferred directly from the IRA account to Habitat.
Your gift is a transfer of funds from your IRA to Habitat, so it does not create taxable income for you and is not considered a charitable tax deduction.
The transfer of funds counts toward your annual Required Minimum Distribution* from your IRA.
If you would like to use this popular way to support Habitat, download a sample letter for your IRA administrator here. Be sure to request that your name and member ID number is included on the check from your financial institution.
Did you know?
You can also support our mission for years to come. Simply name Habitat for Humanity of Huron Valley as a beneficiary of your IRA account, and the remaining assets of the account will be distributed to help us change lives.
Sample beneficiary designation
Legal name: Habitat for Humanity of Huron Valley
Address: 950 Victors Way Suite 50, Ann Arbor, MI 48108
Federal Tax ID number: 38-2874694
Discover the benefits of a QCD
Reduce your taxable income
When you take funds from your IRA, they count as taxable income. But if you transfer them directly to charity, you reduce your taxable income while satisfying your RMD.
Fulfill your required minimum distribution
After you turn 73, you must distribute funds from your IRA. If you do not distribute the required minimum, you may be penalized, but a QCD allows a transfer up to $105,000 per individual or $210,000 per couple to satisfy your RMD.
Transform the world
When you make a qualified charitable distribution from your IRA to Habitat for Humanity of Huron Valley, you will help us change the world for future generations.
Let us know of your decision to make a gift, so that we can thank you and ensure that your gift will be used as you intend. For more information or for any questions contact Alison at alison@h4h.org or 734.882.2009.
