Three Innovative Ways to Support WLAH
The Season of Giving
With the holidays upon us, now is the season to support your favorite non-profit entities. At West LA Homeless, your financial donations go directly toward providing vital services to homeless members of our community. To make a direct donation through our website, please visit our donations page. We also welcome your support through these tax-friendly alternative methods of giving.
Required Minimum Distributions (RMD): This term relates to the amount from one's Individual Retirement Account (IRA), which must be paid out to everyone who reaches the age of 70 1/2. The IRS determines the exact amount to be paid out from your IRA. This is taxable income for the recipient. The IRS allows you to utilize up to $100,000 of your RMD to give to a 501(c)(3) charity through a qualified charitable distribution or QCD. You must advise your custodian of your intention to do this before it is paid to you, providing the name of the charity, address, and the amount of the gift. Qualified charitable distributions do not provide a charitable deduction for taxpayers, but do enable the donor to exclude the amount of the QCD from taxable income. Learn more about Required Minimum Distributions at the IRS website.
Appreciated Securities: With appreciated securities, the donor advises their broker to donate securities (stocks) to a qualified non-profit organization. Thus the donor avoids the capital gain and receives a full deduction for the value of their contribution.
Donor-Advised Funds (DAF): Donors may elect to work with their financial advisors to contribute appreciated securities over a group of charitable organizations. Donors can make frequent contributions to these funds, receive tax benefits, and support their favorite public charities.
A special thanks to WLAH Board Member John O’Keefe who oversees our Donor Relations for sharing his insights and expertise. We recommend consulting with your financial and legal advisors for details and appreciate your support of West LA Homeless.
