Good Hart Artist Residency

Donating stocks or mutual funds to The Good Hart Artist Residency is a smart and simple way to help support our future. By making a gift of appreciated securities, you may be able to avoid capital gains tax and diversify your portfolio.

We have partnered with Stock Donator to accept securities donations. Stock Donator provides a secure, fast, and simple web service to donate stock and securities directly to the Good Hart Artist Residency.

Qualified Charitable Distributions, or QCDs, provide a unique opportunity for retirees to support their favorite charitable organizations, like Good Hart Artist Residency, directly from their IRAs. QCDs allow individuals aged 70½ and older to transfer funds (up to $100,000 annually) from their IRAs to qualified charities without incurring income taxes on the distribution.

The Benefits of QCDs

1. Tax Savings: One of the primary advantages of making charitable donations through QCDs is the potential for tax savings. By directing funds straight from your IRA to a charity, the distributed amount isn’t counted as taxable income.
2. Meeting Required Minimum Distributions (RMDs): For retirees who are required to take minimum distributions from their IRAs, QCDs can be an excellent way to satisfy this requirement while supporting charitable causes.
3. Reducing Adjusted Gross Income (AGI): QCDs can lower your AGI, which may have positive effects on other aspects of your financial planning, such as reducing Medicare premiums or lowering the impact of the taxation of Social Security benefits.

How to Make a QCD

1. Check Eligibility: Ensure that you are at least 70½ years old, as this is the age requirement for making QCDs.
2. Choose a Qualified Charity: Confirm that your chosen charity is eligible to receive QCDs. Most public charities fall into this category, but private foundations and donor-advised funds may not. As a 501(c)(3) nonprofit organization, Good Hart Artist Residency is a qualified charity. 
3. Contact Your IRA Administrator: Inform your IRA administrator of your intention to make a QCD. They can guide you through the process, including preparing the necessary paperwork.
4. Complete the Transaction: Once the details are in order, your IRA administrator will send the funds directly to the chosen charity.

Making charitable contributions through Qualified Charitable Distributions is a wonderful way to combine the joy of giving with the financial benefits of smart retirement planning. By using your retirement accounts to support causes close to your heart, you can leave a lasting impact while enjoying potential tax advantages. It’s never too late to make a difference!

Good Hart Artist Residency is a 501(c)(3) charitable organization.  EIN# 82-2733769

If you have a donor advised fund, please consider the Good Hart Artist Residency in your charitable grants.

Good Hart Artist Residency is a 501(c)(3) charitable organization.  EIN# 82-2733769

Consider adding the Good Hart Artist Residency to your will. If you’re interested in hearing more about how to help build the future of art in our community, please contact sue@goodhartartistresidency.org.