Click each icon to read about the specific considerations with different types of non-cash asset donations:
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DONOR-ADVISED FUND GRANT RECOMMENDATIONAll of the above non-cash assets can be donated through a donor-advised fund. Complete the form below to submit your donor-advised fund grant recommendation for Hope House. Once the grant recommendation is made, it will go through the sponsoring organization’s normal grant review process. After the grant recommendation is approved, funds will be distributed to Hope House.
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QUALIFIED CHARITABLE DISTRIBUTIONS (QCD)If you’re 70.5 or older and own an individual retirement account (IRA), the IRS permits tax free transfers directly to Hope House as a 501c3 charitable organization through Qualified Charitable Distributions (QCD). The entire QCD amount goes to Hope House, is not income to the donor, is tax-free and satisfies part or all the the annual Required Minimum Distribution (RMD) up to $100,000. This can benefit you and our mission!
Recent tax law changes have encouraged more tax filers to use the standard deduction, thus eliminating the tax deducibility of charitable donations. QCD’s provide a tax-free pathway to continue or enhance charitable support of Hope House while using the standard deduction option. The QCD comes directly from your retirement account custodian to Hope House, the donor does not take ownership of the distribution. Most IRA custodial institutions provide simple guidelines for setting up the QCD process. Although the SECURE act delayed Required Minimum Distributions until age 72, QCD’s can still be utilized as soon as age 70.5. If you have questions about QCD’s please email bryan@hopehousebg.com, view the documents below, or contact your tax advisor. |
