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Monetary Contributions:
Cash donations represent the simplest form of support for the Children's Home and are fully tax-deductible up to 50% of your adjusted gross income. Contributions exceeding this limit can typically be carried forward and deducted over subsequent tax years.
In-Kind Donation Drives:
Participate in one of our organized in-kind donation drives, where individuals, churches, businesses, and civic groups can actively engage in meaningful projects. Explore our dedicated In-Kind Donation Drive Page for more information.
Appreciated Stock:
Consider gifting appreciated stock held for over a year, as it often yields substantial tax benefits. While selling stock may incur capital gains tax, donating stock allows for a full tax deduction of up to 30% of your adjusted gross income based on its fair market value at the time of donation. Excess deductions can typically be carried forward for future tax years.
Real Estate Contributions:
Donating real property, including personal residences, vacation homes, or land, to WYC can result in significant tax advantages. By gifting appreciated property, you may receive a charitable deduction for its full fair market value and potentially avoid paying capital gains tax. Additionally, donating the remainder interest in your personal residence allows you to retain residency while benefiting from a tax deduction.
Retirement Benefit Contributions:
Make a gift of retirement benefits to remove these assets from your estate, potentially mitigating taxes that could reach up to 80%.
Life Insurance:
Consider gifting life insurance policies for substantial tax deductions. This can involve purchasing new policies or donating existing ones that are no longer required. Tax savings from other contributions, such as cash, securities, or property, can be strategically used to acquire life insurance to support your loved ones.
Wills and Bequests:
Incorporate a bequest in your will to support the Children's Home. Bequests are fully deductible for federal estate purposes, and you're invited to join our Homestead Society for further information.
Donations of Goods:
Contribute gently used items or new essentials like personal products, canned foods, and cleaning supplies to support our cause.
Provision of Services:
We continually require services such as plumbing, electrical work, landscaping, and carpentry to maintain our facilities and operations. Your expertise in these areas is invaluable to us.