HomeWays to Donate

Ways to Donate

Please note: Tax comments below may apply in the USA. Please contact the class office to discuss donations other than Cash.

Cash

A gift of cash during a person's lifetime is the simplest type of gift. These can be made in person or anonymously, directly or on behalf of another person. Gifts within a year may be deductible from that year's income taxes. You may send a check to the ILCA at any time or include an extra amount of money in the renewal form when you pay your membership every year. Inquire with the Class office about alternatives such as Zelle and PayPal.

IRA Qualified Charitable Distributions (QCDs)

Directing all or a portion of your IRA Required Minimum Distributions to the ILCA can result in that money not counting in your income for income tax purposes and can also reduce your Medicare IRMAA payments.

Marketable Securities and Investment Real Estate

Gifts of appreciated securities and real estate held for investment purposes are often more beneficial to the donor than gifts of cash. When such items are donated, the donor receives a contribution deduction equal to the current market value of the security and generally, the excess of the market value over the donor's cost basis is not taxed. Often it can be advantageous to donate substantially appreciated items rather than to sell them and pay the capital gains tax.

Estate Donations

Remembering The ILCA in your estate planning (will, trust, account beneficiary, etc.) is another method of giving. Such a gift may be deductible in calculating estate taxes. Provisions for the gift may be included in the body of the will or trust or by adding a simple codicil. If you desire to establish a separate memorial gift within a specific fund, or to specify the purpose of the gift, this may be done by so stating in the provisions of the will or trust.

Boats and Equipment

You may consider donating your boat and equipment to the ILCA, thereby helping make them available to newcomers. You can deduct the fair market value of your donation from your income or estate taxes. It may be more advantageous for you to give the boat to the class than to sell it. The Class has the procedures in place to facilitate making this important gift. Contact the Class office to verify that we can accept your boat or equipment as a donation.