Gift Of Stock
Gifts of appreciated property, such as securities, are an accepted alternative to cash. In many (if not most) situations, the full, fair market value of gifts of appreciated property is deductible. Additionally, taxes on capital gains are often avoided. As always, the particular tax savings depend on individual circumstances and must be discussed with personal financial and tax advisors.
Charitable Gift Stock Transfer Instructions
The fastest way for a donor to transfer stock to the Library Foundation is via DTC transfer. This is electronic and does not involve paper certificates. Please contact us before you begin the stock transfer with the estimated date of transfer and number of shares being transferred. This helps us confirm your donation was received as intended.
Brokerage: ProEquities
Contact: (206) 365-3000
Account Name: Kitsap Regional Library Foundation
Account Number: 5EQ-923422
DTC Code: 0443
IRA Charitable Rollover
If you are 70½ years old or older, you can take advantage of a simple way to benefit Kitsap Regional Library and receive tax benefits in return. You can give up to $105,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the distribution. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution (QCD).
Why consider this gift?
A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $105,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions. As a result, donors may avoid being pushed into higher income tax brackets and prevent phaseouts of other tax deductions. There may be other limitations, so it is recommended to seek the advice of your financial or legal advisor.
Next Steps
If you would like to make a QCD reach out to your IRA administrator about making a direct transfer to Kitsap Regional Library Foundation or sending a check from your account to us. Share the information below with your IRA administrator:
Legal Name: Kitsap Regional Library Foundation
Tax ID: 91-1605136
Mailing Address:
1301 Sylvan Way
Bremerton, WA 98310
Please note that Kitsap Regional Library and Kitsap Regional Library Foundation do not dispense legal, investment or tax advice. The information provided here is generalized and listed to illustrate the many ways of making a gift to support Kitsap Regional Library while accomplishing your personal objectives. Consult with your attorney or advisors to ensure your gift aligns with your goals.
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Investment Gifts
Gifts made from investment accounts can be a generous and smart way to support Kitsap Regional Library. Learn more about how Gifts of Stock and IRA Charitable Rollovers help you reach your philanthropic goals while also providing certain tax benefits.
