Potential Tax Benefits
Know Your Options and Your Potential Tax Benefits
Compassionate friends like you have helped Central Union Mission provide amazing care, compassion, and life changing support for people in need since 1884!
There are additional giving options that can provide potential tax benefits and make a powerful difference in the lives of people suffering from homelessness and poverty.
However you prefer to give, here are a few of the ways your generosity may help you save on taxes this year:
Giving Options with Potential Tax Benefits
DONOR ADVISED FUND
By making a gift from your Donor Advised Fund (DAF), you’ll make a powerful difference in the lives of people suffering from homelessness and poverty. Your gift will help provide critically needed support and services like food, shelter, clothing, job training, education, addiction recovery support, ESL classes, medical care, wrap around social services and so much more!
If you contribute to a donor advised fund, you can recommend recurring gifts to Central Union Mission on a monthly, quarterly, or annual basis. Or you can create a lasting legacy by naming Central Union Mission as the beneficiary of the account or a percentage of the fund. Additionally, you may qualify for a charitable tax deduction in the year you donate to your fund if you itemize.
Please consider changing lives with a DAF gift today. Here’s how:
- Simply enter Central Union Mission when searching your DAF charity database
- Or visit our DAF portal here: www.missiondc.org/DAF
We are happy to work with you to answer any questions you may have. You can reach us at
202-745-7118 during normal business hours, or you can send an email anytime to partnerships@missiondc.org.
Thank you for your generosity at a time of such great need. You are a blessing to your neighbors in need!
IRA CHARITABLE ROLLOVER/QUALIFIED CHARITABLE DISTRIBUTION (QCD)
An IRA Qualified Charitable Distribution (QCD) or IRA Charitable Rollovers, as they are sometimes called, are an increasingly popular way for donors 70 ½ or older to support the lifesaving work of Central Union Mission. You can make up to $100,000 in tax-free charitable distributions annually, lowering your taxable income, and if you’re age 72 or older, helping you to meet your minimum distribution requirement or RMD. You can find additional information at www.missiondc.org/IRA.
To initiate a qualified charitable distribution from your IRA to Central Union Mission, your IRA trustee will need the following information:
Legal name: Central Union Mission
Taxpayer ID: 53 0218650
Permanent address: 65 Massachusetts Ave, NW, Washington, DC 20001
APPRECIATED STOCKS AND SECURITIES
Your gift of donated stock to Central Union Mission is eligible for the same income tax savings, if you itemize, that you would receive if you wrote a check, but it has the added benefit of eliminating capital gains taxes in the transfer. Central Union Mission maintains an account with Pershing LLC to receive non-trust related stock gifts. You may contact Pershing LLC at 703-506-8200 to initiate a stock donation. You can find additional information at www.missiondc.org/stocks.
To initiate a stock gift to Central Union Mission please note the following information:
Donors Account Name: Central Union Mission
Account Number: A3L033142, Pershing LLC
DTC Number: 0443
Tax ID Number: 53-0218650
APPRECIATED REAL ESTATE
Donating real estate to support the work of Central Union Mission may provide both income tax and capital gains tax savings. Additionally, depending on the way your donation is structured, you can avoid the time and expense of selling property and generate an additional stream of income.
Central Union Mission partners with CARS (Charitable Adult Rides & Services) to process real estate donations to benefit Central Union Mission and the community we serve. Our program takes any property type (land, homes, commercial) in any location so long as there is equity. Our program is structured to pay off all loans, liens, commissions owed and all closing costs. To inquire further, please contact partnerships@missiondc.org or visit us online at www.missiondc.org/realestate.
We hope this information is helpful. If you have questions or require additional information, please contact us at 202-745-7118 during normal business hours, or you can send an email anytime to partnerships@missiondc.org.
Thank you for caring. Your gift will help provide critically needed support and services like food, shelter, clothing, job training, education, addiction recovery support, ESL classes, medical care, wrap around social services and so much more! God bless you.