WHY GIVE STOCK?
Donors gifting stock or appreciated securities to UWSCC (a qualified charity) can be a way to increase the value of your gift, potentially benefiting both you and UWSCC. By gifting the appreciated stock/securities (owned by your for more than one year), to UWSCC you might be able to avoid paying capital gains tax and maximize your charitable deduction for the full fair market value of the asset. These gifts provide immediate support for the most effective programs serving our neighbors in need.
HOW TO GIVE STOCK
If you wish to electronically transfer stock or mutual funds from your account, write a letter to your broker authorizing the transfer of shares of XYZ Company or Fund] to:
United Way Broker: Vanguard
Broker DTC Number: # 0062
Account Name: United Way of Southern Chester County
Account Number: 63873953
United Way Fed Ein: 23-1260899
Please send a copy of your letter to United Way of Southern Chester County.
VALUATION FOR TAX PURPOSES AND DATE OF GIFT
Following the standards of major philanthropic institutions, UWSCC determines the value of a gift based on the value of the stock on the date it is gifted, using the average of the high and low prices the stock traded on that day. We determine the gift date as the date the securities are either postmarked (if mailed), received at the UWSCC office (if hand delivered), or are wired into our account. To determine the value of the gift for tax purposes, UWSCC must have either a stock certificate or confirmation from a broker that a transfer has been completed.
For more information, please call 610-444-4357 or contact your tax advisor or broker.
Support UWSCC with a Qualified Charitable Distribution from your IRA.
WHAT IS A QUALIFIED CHARITABLE DISTRIBUTION?
A qualified charitable distribution (QCD) is a distribution of funds from certain IRA accounts directly to a qualified charitable organization, such as UWSCC. The QCD can count towards your required minimum distribution (RMD). Because the gift goes directly to the charity without passing through your hands, the dollar amount of the gift may be excluded from your taxable income up to a maximum of $100,000 annually (indexed starting in 2024), with some exceptions. Please consult your tax advisor for information regarding your specific situation.
To learn more about QCDs, please visit IRS.gov.
WHO CAN MAKE A QUALIFIED CHARITABLE DISTRIBUTION?
QCDs can be made by IRA owners who are age 70 1/2 or older. QCDs made prior to the age you are required to take a minimum distribution from your retirement assets (pre-Required Minimum Distribution QCDs) will not reduce or otherwise impact future Required Minimum Distribution.
To learn more about QCDs, please visit IRS.gov.
HOW DO I GIVE AN IRA TO UWSCC?
Your Qualified Charitable Distribution (QCD) must be made directly from your IRA custodian to UWSCC on your behalf. Each financial institution has its own process for initiating a qualified charitable distribution. Many retirement plan administrators require you to use their distribution forms and comply with other requirements, so follow your financial institution’s forms and procedures to ensure you receive any potential tax benefits associated with this gift.
The QCD can be made in the form of a check, a direct deposit into the UWSCC bank account, or through a stock transfer (see above for gift stock).
FOR QUESTIONS OR ADDITIONAL INFORMATION
Please call Mercedes Diaz at 610-444-4357 or email finance@unitedwayscc.org