Many of our parents, alums and friends are considering their year end giving plan. Here are some considerations as you evaluate your own giving.
- Gift Impact at Dudley and Kiniya
The impact that any gift has at Dudley and Kiniya is huge. Our comparative small size makes the impact of an individual donor’s philanthropy significant when compared to larger organizations. We are fond of saying that “Every Gift Matters” and we mean it.
- A Great Time to Give Appreciated Securities to Dudley and Kiniya
The US and Global stock markets have enjoyed another banner year. All in all, most stock markets are up 20% or more this year, and some individual stocks, ETFs (exchange traded funds) and Mutual Funds are up even more than this. This makes the current environment a favorable time to donate appreciated securities. Since the Financial Crisis, many stocks and stock markets are up over 300%!!! Donating appreciated securities (stocks, ETFs or mutual fund shares) to our BFTF Campaign (or to a donor advised fund and then to the Campaign) could mean that no tax should be due on any of the embedded capital gains. Please consult your financial advisor to confirm your individual circumstances. Camp makes it easy to transfer appreciated securities. The directions for your broker are at www.campdudley.org/givestock.
- TODAY We KNOW the Rules About Tax Deductions
Tax reform is in the news every day. We don’t know if it will occur, or what changes might be enacted. We do know that some of the “untouchable deductibles” such as state and local taxes, 401(k) contributions, mortgage interest and even possible limits on the deductibility of charitable contributions are part of the conversation. Acting now gives you and other donors the benefit of current tax law so the tax deductibility of donations can be understood and considered as part of the gift. Once again, please consult your personal tax advisor about details. While we can’t predict the future, we do know that there have been many unexpected surprises over the past year. Never say never!
- IRA Charitable Rollover Gift Option Can Benefit Camp If Available to You
A gift of retirement plan assets may be an easy way to reduce potentially high taxes and provide support to the Building for the Future Capital Campaign. If you are at age 70½ or older, and are the owner of a Traditional IRA (or inherited Traditional IRA), and do not need all or part of your required minimum distribution, you should be able to make tax-free IRA contributions directly to qualified public charities, such as Camp Dudley, Inc. Each age-eligible IRA owner can usually transfer up to $100,000 tax free per tax year. Your IRA gift must be completed on or before December 31 of the calendar year in which you choose to utilize the IRA Charitable Rollover gift vehicle for tax purposes. The check must be made payable directly to Camp Dudley, Inc. or to the Camp Dudley Foundation. You can only make outright gifts. Consult your personal tax advisor about details.
- Accelerated Pledges Help Camp and Might Help You Too!
We would LOVE to have you involved in the Building For The Future Capital Campaign! We are well on our way towards our $10mm+ goal, although we have procured some bank financing to “bring forward” several strategic projects (e.g. The Coleman Dining Hall at Camp Kiniya). This will ultimately be repaid through the BFTF Capital Campaign. Your pledge can help ensure that we meet all of the goals of the Campaign, including paying off all of the bank financing by the end of the Campaign. Pledges can be fulfilled through 2021, although if you have the financial flexibility, we would be extremely grateful if you could accelerate the fulfillment of your pledge to take advantage of today’s tax deductions.
Most of all, THANK YOU for considering supporting our Camps’ Annual Fund and the Building For The Future Capital Campaign. Gifts from any of these sources can be applied to either. We will honor your request. We are fortunate to have such a generous and passionate group of alumni, parents, grandparents, families, and friends!
Camp Dudley and Camp Kiniya do not provide tax, legal, or financial advice. We strongly encourage our donors to seek counsel from their own legal and financial advisors. If choosing to use one of these gift opportunities, please check with your lawyer or tax advisor to assure implementing such a gift achieves the desired result.
Ways to Give
Gifts of Appreciated Securities – Details for you & your broker are here.
Credit Card Gifts Online – Visit our online giving page here.
Gifts by Check – Send your check to Camp Dudley, Inc., 126 Dudley Road, Westport, NY 12993