Are you looking to close out the year with a thoughtful contribution that maximizes your impact while potentially yielding tax benefits as well? Explore these three options below.
Support our mission with a simple act of generosity - by making a cash donation. By doing so, you can make a significant difference and potentially receive a federal income tax charitable deduction. If you itemize your deductions, you can lower your taxable income by the amount you donate. If you're unsure about the tax implications of your gift, consult your financial advisor or tax consultant. Click here to make a cash donation today!
Keep in mind: To qualify for this year, your envelope must be postmarked no later than December 31, 2023.
Consider contributing appreciated securities that you've held for over a year. This approach offers the same income tax advantages as cash donations and allow you to bypass capital gains taxes on the appreciation. Click here for more information.
Keep in mind: if you electronically transfer securities to us, the gift date is the day they enter our account, not the date you instruct your broker to initiate the transfer.
If you're aged 70 1/2 or older, you have the option to donate up to $100,000 from your IRA directly to Baylor Scott & White All Saints Health Foundation. Please note, that this amount may increase in subsequent years to adjust for inflation. This transfer is not subject to income taxes. If you have mandatory minimum distributions, your gift can fulfill part or all of your obligation. To qualify for this year, your IRA administrator must initiate the transfer from your account by December 31, 2023. To make a gift from your IRA, click here.
Keep in mind: If you have check writing capabilities on your IRA, ensure that your check clears your account by December 31, 2023 to meet your required minimum distribution for the calendar year.
2024 is just around the corner, but you can still make a difference before the end of the year, and we are happy to help you create the biggest benefit for your generosity. Please contact us at 817-922-7707 or cristie.king@bswhealth.org.
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