As the end of the year approaches, people look for meaningful ways to give back while also making the most of available tax benefits. Whether you give cash, appreciated stock, through a donor-advised fund, or from your IRA, you can support Spurwink’s mission while maximizing the impact of your generosity.
Tax-Smart Giving Strategies
No matter how you choose to give, you will join a community of people helping reach the individuals and families in Maine who need care the most.
Give from an IRA
If you are age 70½ or older, a Qualified Charitable Distribution (QCD), sometimes called a charitable IRA rollover, enables you to give directly from your IRA to Spurwink. By giving from your IRA, you reduce taxable income while helping children, adults, and families in need across our state.
Give Through Your Donor-Advised Fund
Donor-advised funds (DAFs) are one of the fastest-growing charitable giving vehicles. If you have a DAF, the end of the year is an excellent time to recommend a grant to Spurwink, which accepts gifts from donor-advised funds. You can help expand access to behavioral health and educational services across Maine.
Give Appreciated Stock
Giving appreciated securities is another way you can be a helper to those in need this year-end. Donating stock that has increased in value may allow you to avoid capital gains taxes while potentially receiving a charitable deduction based on the security’s fair market value.
Spurwink accepts gifts of appreciated securities and can work with you and your financial advisor to facilitate the transfer.
A New Opportunity for Non-Itemizers
Many taxpayers no longer itemize deductions. Under recent tax law changes, however, individuals who take the standard deduction may still be eligible for a charitable deduction of up to $1,000 for qualified charitable contributions ($2,000 for married couples filing jointly in certain circumstances). Now, you can potentially make a year-end gift and receive a tax benefit even without itemizing.
Every Gift Creates Opportunity
No matter how you choose to give, you help Spurwink strengthen families, expand access to behavioral health services, provide educational opportunities, and create brighter futures for people throughout Maine. As you consider your year-end philanthropy, we encourage you to consult your financial or tax advisor to determine the giving strategy that best aligns with your goals.
To learn more about gifts through IRAs, donor-advised funds, stock transfers, planned giving, and other charitable options, visit Spurwink’s Ways to Give page or reach out to Spurwink’s Director of Development, Emily Williams ewilliams@spurwink.org or (207) 807-1850. Together, we can make a lasting impact before the year ends.
