Charitable giving is a powerful financial tool. It provides double satisfaction—helping a worthy cause and possibly lowering your tax bill. A breadth of tools can help you reach your philanthropic goals.
Donor Advised Funds offer an immediate tax deduction and donor may advise on which charities receive assets over a future timeframe. Often, DAFs can be established with an opening minimum gift of $10,000.
Qualified Charitable Deductions enable donors over 70+ to direct distributions from an IRA directly to a charity, offering continued tax benefits to many taxpayers. A QCD distribution allows you to reduce taxable income, achieve charitable giving goals and satisfy your required minimum distribution—all in one transaction.
Stock Donations, where the asset must be held for more than one year, increases the value of your giving as the donated stock is not subject to a capital gains tax. You receive an income tax charitable deduction for the full fair-market value of the stock at the time of the gift. LEARN MORE >
Legacy Gifts, including a bequest in your Will, or designating Building STEPS as a beneficiary of your IRA, retirement plan account or life insurance policy are financial and estate planning options that create long-term charitable support.