Tax-Smart Ways to Give Supporting Brookfield Craft Center not only strengthens creativity in our community — it can also provide you with valuable tax benefits. Here are some of the most effective ways to make a meaningful, tax-smart gift:

Gifts of Appreciated Stock Donating stock you have held for more than a year directly to the Craft Center can be one of the most tax-efficient ways to give. You will receive a charitable deduction for the full market value and avoid capital gains tax, allowing you to maximize your gift without affecting your cash flow. For example, donating stock worth $10,000 that you purchased for $5,000 lets you deduct the full $10,000 and avoid taxes on the $5,000 gain.

Donor-Advised Funds (DAFs) Door Advised Funds are investment accounts for the sole purpose of supporting charitable organizations you care about. Once you identify a managing organization to work with, they will help you invest the funds in the account for tax-free growth. You receive the tax-benefits in the year that you contribute to your fund, and then you decide when and how much you want to grant to your favorite charity, like us!

DAFs can be particularly beneficial in reducing tax burdens after a windfall situation such as receiving an inheritance or experiencing strong market returns.

If you already have a Donor-Advised Fund, you can support our educational and community programs right here in Brookfield with a simple recommendation.

IRA Charitable Gifts For those age 70½ or older, making a Qualified Charitable Distribution (QCD) directly from your IRA is a simple way to give and goes directly to the Craft Center. QCDs are not counted as taxable income and when applicable, can count toward your Required Minimum Distribution (RMD).  

Legacy Gifts A Planned Gift through your will, trust, or estate ensures that your love of craft will carry on for generations. Whether you choose to leave a specific amount, a percentage of your estate, or other assets, your legacy will help BCC remain a place where creativity thrives well into the future.

Have a question – let’s connect. Joanne Boyer | jboyer@brookfieldcraft.org | (203) 775-4526

The information provided here is for general educational purposes and should not be considered legal or tax advice. We encourage you to consult with your financial or tax advisor to determine how these strategies may apply to your personal situation.