Other Ways To Give

A charitable rollover from your individual retirement account (IRA) is a simple and easy way to make an annual gift to WCMS and reduce your income tax liability at the same time.

Withdrawals from IRAs are taxed as ordinary income in the year received. If you are age 70 ½ or older, you can avoid having to recognize this income by instructing your IRA administrator to pay – to “rollover” – all or part of the amount you are required to withdraw annually directly to one or more charitable institutions, including WCMS. As a result, your federal adjusted gross income will be lower and you will pay less in income tax for the year.

If you are considering an IRA charitable rollover, we welcome your gift and suggest that you contact your IRA administrator for guidance concerning the charitable rollover process.

A donor-advised fund (DAF) is a charitable gift fund that an individual, a couple, or a family establishes by contributing cash, appreciated stock, or other assets to a public charity that administers DAFs. The donor receives an immediate income tax deduction and retains the right to recommend the recipients and amounts of charitable gifts to be made from the DAF in succeeding years. Charities that administer DAFs in our community include the Greater Worcester Community Foundation, the Boston Foundation, the Fidelity Charitable Gift Fund, the Schwab Charitable Fund, and many other entities.

Do you have a donor-advised fund? If you do, please consider recommending a gift from your DAF to WCMS. We welcome gifts from DAFs in any amount. Use the area below to make your donation directly.

Charitable Gift Annuities, give now and receive income for life

Charitable Gift Annuities (CGAs) enable donors to make a gift now and receive income for life. Donors aged 70 and older can establish a regular CGA and receive a fixed quarterly annuity payment starting immediately. A deferred gift annuity option is available for donors aged 65 and older. With this annuity, the income is deferred until age 70 or later, and the annuity rates may be higher.

We recommend you consult your financial advisors to determine the most advantageous gift plan for you.

Do you own stock that has appreciated significantly since you acquired it? If so, please consider giving some of it directly to WCMS. By doing so, you will have the benefit of an income tax charitable deduction for the fair market value of your donated shares, and you will avoid the capital gains tax you would have owed had you sold the shares yourself and then made a gift of cash to WCMS. Because of its tax-exempt status, WCMS will not pay any tax in connection with its sale of your shares.