Gifts of Securities
For some individuals, a gift of appreciated stock or other investment can confer larger benefits at tax time.
A gift of appreciated stock can result in an income tax deduction for the full fair market value on the day you make the gift, and you can avoid paying capital gains tax that you would have to pay if you sold the stock rather than giving it away.
Talk to your financial advisor or contact the Carpinteria Arts Center for more information on how you might benefit from making a gift of appreciated securities, mutual funds, or other financial instruments.
IRA Charitable Rollovers
Seniors who are at least 70 ½ years or older can make tax-free charitable distributions from an IRA to a qualified nonprofit organization like the Carpinteria Arts Center. Individuals may roll over up to $100,000 from an IRA directly to a qualifying charity and avoid being taxed on the amount.
To make an IRA gift, please contact your IRA administrator. It is important that IRA gifts are transferred directly to a charitable account in order to reap the tax benefits.