Research shows that older adults who participate in senior center programs can learn to manage and delay the onset of chronic disease and experience measurable improvements in their physical, social, spiritual, emotional, mental, and economic well-being (National Council on Aging, 2023).
HOW TO SUPPORT ASACF AND OUR OLDER ADULTS
Cash donations and attending our annual fundraiser are the first things that come to mind, but you can also make contributions though:
- Appreciated assets
- Donor advised funds
- Living trusts
- Qualified charitable Distributions (IRA)
- Real estate
If you would like to learn more about this, please continue to read below and don't hesitate to reach out to us, if you have any questions
APPRECIATED ASSETS
You can make donations without touching your cash by giving appreciated assets such as stocks or tangible personal property (i.e. artwork) directly to ASACF. This may reduce your capital gains taxes on the asset’s appreciation.
DONOR ADVISED FUNDS
Donor Advised Funds are held by a public charity that often have experience in helping convert appreciated assets (for example stocks) into charitable contributions.
Contributing appreciated securities to a donor advised fund, may increase your tax deduction.
You can recommend grants from the fund to ASACF.
LIVING TRUST
(Please consult with an estate planner or attorney)
- You may leave a larger gift to ASACF while still controlling your assets, giving you the most flexibility.
- You can arrange an endowed gift through your will or living trust to ensure your gift will continue in perpetuity.
- When leaving trust assets to ASACF, your family members will avoid being taxed on them, leaving them assets that are less heavily taxed.
ARE YOU THINKING OF SELLING REAL ESTATE?
You can donate your property and:
- avoid capital gains tax
- qualify for a tax deduction on the full value of the property
- avoid the need to sell your property
- reduce your estate administration cost
Have you heard of "Retained Life Estate?"
You can donate a personal residence (primary home or vacation home) to ASACF and continue to live in and use the home:
- you will qualify for income tax savings through the deduction of a portion of the value of the home
- you won't have to go through the hassle of selling the property in the future
- you reduce your estate administartion costs
QUALIFIED CHARTABLE DISTRIBUTION (QCD)
A QCD is a donation made directly from an IRA and counts toward the required minimum distribution from the IRA. These distributions are not taxed and will reduce income and thus avoid income tax up to 35%. However, the funds must be withdrawn from the account before year-end.
The QCD from an IRA can be used in addition to itemized deductions.
CASH GIFTS
A cash gift may be eligible for an income tax deduction when you itemize your donations. To qualify for an itemized tax deduction the payment must be dated on or before December 31. The funds do not need to be withdrawn from the account by December 31.
You determine exactly how much you would like to give.
LETS CONNECT
If you have any questions on how to support ASACF or leave a legacy, just send us an e-mail, and we will be happy to meet with you.
THANK YOU
Regardless of how much you contribute or how you contribute to the Anacortes Senior Activity Center Foundation, you are supporting an invaluable resource in our community that provides a place where Anacortes seniors can thrive in a vibrant and welcoming atmosphere.