Charitable Giving

HOW CAN I DONATE?

If you are interested in supporting these important programs and services for the youth and seniors, a variety of ways are available.  Contact Anita Pierce, Development Officer at (513) 407-3332 or at anita.pierce@7hillsnh.org for more information about these options.

Gifts by Credit Card

Donate online now or call Anita Pierce at (513) 407-3332 or by e-mail at anita.pierce @7hillsnh.org for more information. We accept American Express, Visa, Mastercard and Discover.

Gifts by Stock

Seven Hills accepts gifts of appreciated stock.

Planned Gifts

Gifts from insurance, Individual Retirement Accounts (IRA) and Wills and Bequests are considered to be a planned gift.  Seven Hills can be named as the beneficiary of all or part of an estate, allowing the agency to builder a stronger community for years to come.

New tax incentives for charitable gifts: 

Use your IRA as never before

On August 17, 2006, President Bush signed into law new tax incentives for charitable gifts from donors who are 70 1/2 or older.  The Pension Protection Act of 2006 encourages financial support of charitable organizations across the United States.

Under the law, you can make a lifetime gift using funds from your individual retirement account (IRA) without undesirable tax effect. Previously you would have had to report any amount taken from your IRA as taxable income, then take a charitable deduction for the gift, but only up to 50 percent of your adjusted gross income. In effect,  this causes some donors to pay more in income taxes than if they didn't make a gift at all.

Fortunately, now these IRA gifts can be accomplished simply and without tax complications. Plus, you can make the gift now-while you are living and able to withness the benefits of your generosity.

You may contribute funds this way if:

* You are dage 70 1/2 or older

* The gift is $100,00 or less each year

* You make the gift on or before Dec 31, 20078

* You transfers funds directly from an IRA or Rollover IRA

* Your transfer the gift outright to one or more public charities, but not supporting organization or donor advised fund

How the New Law Works

Dr. Smith aged 80, has $450,000 in an IRA and has pledged to give $75,000 this year. If Dr. Smith transfers $75,000 from the IRA, he will avoid paying income tax on that amount. He cannot, however, claim a charitable deduction-it is pure "wash". Pat has found an easy way to benefit charity without tax complications.

If his spouse has an IRA and is 70 1/2 or older, she can also give up to $100,000 each year

How to Make a Gift

Prior to making a gift, contact the recipient organization to ensure that they are an eligible organization. Once you have received this confirmation and any special instructions, contact your IRA custodian to transfer your desire amount.

For More Information

It is wise to consult tax professional if you are contemplating a gift under the new law. Please feel free to call Contact Fransco Wantsala, President/CEO at (513) 407-3293 or by e-mail at fransco.wantsala@7hillsnh.org for any questions.