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IRA MANDATED DISTRIBUTION
If you are 70.5+ years young, please consider making a Qualified Charitable Distribution (QCD). A QCD is a direct transfer of funds from an IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying required minimum distributions (RMDs) for the year. Also, QCDs don't require itemization, which due to the recent tax law changes, means you can take advantage of the higher standard deduction, but still use a QCD for charitable giving. Example: A married couple both over age 65 now receives a $27,200 standard deduction; so itemized deductions must exceed that amount to reduce taxable income. Under the new tax laws, itemized deductions for all taxes are limited to $10,000. Further, home mortgages may be virtually paid off and medical deductions are still not allowable except in the rare year of serious illness. This all means that if you directly donate the “remaining” $17,200 and claim it as a charitable itemized deduction, it will produce no additional tax benefit. As an alternative, you can transfer the $17,200 directly from one's IRA under QCD and reduce your adjustable gross income (AGI) by that full amount while still preserving the full $27,200 standard deduction. (The standard deduction for single filers is $13,600.) Information on all ways to give can be found at FriendsSFPL.org/Support, and you can also contact Craig Palmer, Chief of Advancement directly at (415) 477-5235 and craig.palmer@friendssfpl.org. STOCKS & SECURITIES
To make gifts of stock please fill out our Stocks Gift Transfer Form below. For questions, please contact our Chief Advancement Officer Craig Palmer at 415.477.5235, or email at craig.palmer@friendssfpl.org. |
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MATCH YOUR GIFT
More than 7,500 companies offer matching gift programs to their employees and some offer the option to retirees. These companies match, double or even triple the amount an employee gives to a charitable organization. Contact your human resources department for more information or Mario Lemos at (415) 477-5231 or mario.lemos@friendssfpl.org. See if your employer will match your donation! Enter the name of your company: |
GIVE BY PHONE
Call us at (415) 626-7500 GIVE BY MAIL Friends of the San Francisco Public Library c/o Development 710 Van Ness Avenue San Francisco, CA 94102 |
