As the year begins to come to a close, you may be starting to consider where and how to give back to communities you support. We encourage you to consider CTLCV as a way to not only give back, but to also make a significant impact on the future of Connecticut’s environment. There are several ways you can give to CTLCV and we want to take a moment to highlight two of them that may be of interest to some of you; Stock Gifts and Qualified Charitable Distributions.
Both the CT League of Conservation Voters 501(c)(4) and the CTLCV Education Fund 501(c)(3) can accept stock gifts, also known as “appreciated securities”. You can make outright gifts of appreciated securities (stocks, bonds, mutual fund shares) at full fair-market value. To avoid capital gains taxes, you must transfer the ownership of the securities to the CTLCV brokerage account.
If you contribute stock to our 501(c)(3), you avoid the capital gains tax and you are eligible for a charitable tax deduction. If you contribute to our 501(c)(4), you avoid the capital gains tax but the gift is nondeductible. For more information, please click here.
IRA gifts are known as Qualified Charitable Distributions, or QCDs. If you are at least 70.5 years old, you are allowed to give charities a collective sum up to $100,000 a year directly from your IRA without it counting as taxable income. This gift also counts towards your Required Minimum Distribution (RMD), or the annual amount you are required to withdraw from your IRA account after you reach the age of 73. If you file jointly, your spouse may also make a QCD from his or her own IRA account up to $100,000.
QCD gifts may only be made to the CT League of Conservation Voters Education Fund, a qualified 501(c)(3) organization that is eligible to receive tax-deductible contributions. Our 501(c)(4) organization is not eligible to receive QCD gifts.
For more information, please click here.
On behalf of the staff and board, thank you for considering these ways of giving to CTLCV and CTLCV Education Fund. We hope you have a wonderful holiday season and please don’t hesitate to contact us with any questions.