Charitable Transfers

Qualified Charitable Distribution:

For folks 70.5 years and older, a qualified charitable distribution (QCD) from a retirement account is an excellent way to give tax-free. This common practice is both tax efficient and highly impactful for the needs of our nonprofit. This is a voluntary action that can take the place of a required minimum distribution and may help donors avoid being pushed into higher income tax brackets. The charitable distribution must pass through the IRA custodian to the nonprofit, never handled by the donor. Learn more about QCD from the IRS here.

Required Minimum Distribution:

The IRS requires those who are 72 years and older with a retirement account to distribute or withdraw money. These distributions are taxed unless they’re passed along directly to a nonprofit through the IRA account custodian. Distributions are based upon the person’s age, the year end balance and a certain percentage. If the RMD is withdrawn by the account holder, it will be taxed. Learn more about the RMD from the IRS here.

Donate Stock:

Did you know that you can donate stock, bonds, and mutual funds to nonprofits?

Donating securities that have appreciated in value, and that you have owned for over a year, offers potential tax savings including an income tax deduction and also avoiding capital gains tax.

For example, donating shares of appreciated stock allows OHT to secure the entire value of sale, and avoids capital gain tax for you and the charity.  Your brokerage company can support you with an online form for authorizing transfer of shares of stock / securities to a non-profit organization’s brokerage account.

To donate stock or cash via a brokerage account, please transfer to Olympic Housing Trust:

Account: 23765464

DTC: 0062 (Vanguard)

EIN: 61-1497176

Please notify our team when you transfer as we are not directly notified by Vanguard when a transaction takes place. Thank you!

Please consult with your financial advisor for further questions.

Property Transfer:

Community land trusts, like the Olympic Housing Trust, are generational stewards of housing and land. Contributing real property can allow for a new affordable housing project to emerge, which is exactly how the Dundee Hill project came to be.

If you’re curious about using your property to ensure more affordable housing, please visit our Housing Legacy webpage to understand how this works.

Planned Gifts:

Life estate planning is important for you, your loved ones, and your legacy. While it can be challenging, it's crucial to ensure that the values that you support in life are set up to continue their good work into the future.

There are multiple ways to incorporate charitable giving into your estate plan, including:

• Bequest: A gift made through a will or trust. It is one of the simplest forms of charitable giving in estate planning. May be a specific cash gift or percentage of estate’s total value.

• Charitable Remainder Trust: Allows you to provide income to yourself or other beneficiaries during your lifetime, with the remainder going to a charity after a specified time or after death. You can receive an income stream, immediate tax deductions, and estate tax benefits while benefiting a charity in the long run.

• Charitable Lead Trust: A retained life estate which allows donors to donate property but remain residents upon it in exchange for the future rights of the property.

• Donor Advised Fund: Allows you to make a charitable contribution, receive an immediate tax deduction, and recommend grants from the fund over time. You can involve family in deciding which charities receive grants and spread your giving over time.

• Charitable Gift Annuity: A contract where you donate to a charity and, in return, receive fixed payments for life. You receive tax benefits and guaranteed income for life, with the charity receiving the remainder after your passing.

• Retirement Plan Beneficiary Designation: You can designate a charity as the beneficiary of your retirement accounts (e.g., 401(k) or IRA). Since retirement assets can be subject to high taxes when left to heirs, naming a charity can help avoid these taxes and benefit a cause you care about.

• Life Insurance Gifts: You can name a charity as the beneficiary of your life insurance policy, or you can donate an existing policy to the charity. This can allow you to make a significant gift at a relatively low cost, as life insurance can leverage small premium payments into large donations.

Please be sure to speak with your tax advisor when considering a gift of real estate. The Olympic Housing Trust is not a financial adviser.