There are several tax savvy ways to make your year-end charitable contribution to the YMCA.
Expanded Charitable Deduction (2021 only)
This year there are two special tax incentives to encourage your contributions. Even if you do not itemize your income tax deductions, you can still deduct up to $300 (or $600 for a married couple) for cash contributions to the Y in 2021. If you do itemize, you can deduct up to 100% of your cash contributions in 2021 (the limit is usually 60%).
Charitable IRA Rollover
If you are 70½ or older, you can make a tax-free distribution directly from your IRA account to the YMCA. This “Qualified Charitable Distribution” will not be included in your taxable income and it counts toward your required minimum distributions.
With the stock market reaching new highs, you might consider a contribution of appreciated stocks which will provide you a double tax break. You can deduct the current value of the stock as a charitable contribution and you will avoid the capital gains tax that you would have paid if you sold them. The capital gains tax savings are available even if you do not itemize.
To make a gift of securities to the Y, please notify your broker and provide the following information:
- Andrew Crowell at D.A. Davidson, 213 620 1850 (our broker)
- Identifying #: DTC 0361
- Account #: 70994751 – AD01
- Account Name: YMCA of Metropolitan Los Angeles
- Tax ID#: 95-1644052
To ensure your gift is credited to you correctly, please email LisaVanIngenPope@ymcaLA.org to let us know WHICH STOCK you are giving and any branch or program designation to be noted.
Please contact LisaVanIngenPope@ymcaLA.org or 310 713 3119 with any questions or for more information. And thank you for your support of the YMCA this year-end!