Eight Ways to Make a Tax-deductible Gift to Your Favorite Charity

It’s not too early to start thinking about how you can share the love of Christ with a child at the Ranch through a year-end gift.

Dakota Boys and Girls Ranch is a residential treatment and educational center for youth and their families, a place where we look the most troubled, complex, and amazing kids in the eye, walk with them, and help them become their best selves in this world and in Christ.

By making a year-end gift, you can pay less in taxes, avoid capital gains tax, and direct your treasures to where you want them to go—while providing hope, care and healing for kids when they need it most. Be sure to check your local/state tax laws for specifics in relation to tax laws—each state can be different.

Here are eight ways you can make a year-end gift to Dakota Boys and Girls Ranch:

1. Make a cash gift. Cash gifts give you a tax deduction during the year of the gift and make an immediate impact on our ministry’s work with at-risk children and their families.
   
   
2. Give appreciated assets, such as securities or real estate. Outright gifts of appreciated assets, such as securities or real estate, are an excellent way to help our ministry today. And for you, these gifts will:
   1. Provide an income tax deduction based on the fair market value of the item,
   2. Avoid federal and state capital gains taxes, and
   3. Avoid Affordable Care Act Medicare taxes.
      
      
3. Transfer ownership of old or unneeded insurance policies. Transferring ownership of your old or unneeded life insurance policies to Dakota Boys and Girls Ranch can help future generations of children find and become their best selves. The benefits to you are more immediate. You will:
   1. Receive a charitable tax deduction now,
   2. Reduce your taxable estate for the future, and
   3. Preserve your cash and savings.
      
      
4. Create a Charitable Life Income Plan. Charitable Life Income Plans, like charitable gift annuities, can help you now and give children hope for the future. You will:
   1. Receive a charitable tax deduction now,
   2. Reduce your taxable estate for the future, and
   3. Preserve your cash and savings.
      
      
5. Create a Charitable Life Estate. A Charitable Life Estate will allow you to donate your home, farm, or vacation home to our ministry which will help future generations of children finding hope and healing at the Ranch. You will benefit through:
   1. A current tax deduction,
   2. Life use and enjoyment of the property (you pay only taxes and upkeep), and
   3. A lasting legacy to further our mission.
      
      
6. Take advantage of an IRA rollover. The legislation allowing you to make an IRA rollover is now permanent so you can make a gift to Dakota Boys and Girls Ranch from your IRA accounts at any time. If you are 70½ and must take a minimum withdrawal, you can choose to directly transfer this to our ministry. Call us to learn how you may benefit by:
   1. Bypassing taxes on the income, and
   2. Avoiding a higher tax bracket.
      
      
7. Transfer stocks. A transfer of stocks to Dakota Boys and Girls Ranch will make an immediate impact on children, and you will benefit by:
   1. Bypassing capital gains tax,
   2. Receiving a charitable tax deduction this year, and
   3. Avoiding future investment costs.

8. Make an endowment gift. North Dakota taxpayers can receive a tax credit for giving $5,000 or more to a qualified endowment (Dakota Boys and Girls Ranch Foundation has several qualified endowments to choose from), and help kids find and become their best selves in this world and in Christ for years to come.
   1. For every $5,000 donated to a qualified endowment this year, you will receive an immediate tax credit from the state of $2,000, and a tax credit of at least $1,400 from the federal government. (The federal tax credit will change as your tax level changes. To find out your credit, contact us at 1-800-344-0957, or contact your financial advisor.)
   2. Individuals can receive a maximum tax credit of $10,000. For couples, the maximum tax credit is $20,000.
   3. If you don’t use the entire tax credit the first year, any remainder is held over for up to three additional years.

October 21-27 is National Estate Planning Awareness Week. Now is the time to solidify your plans and make sure your assets are distributed in a way that meets your needs and provides stability for your loved ones.

For more information, contact us today at 1-800-344-0957, learn more at our website, DakotaRanch.org, or see what Ranch kids are up to by following us on Facebook (@dakotaranch1952) or Instagram (@dbgr52).