Our supporters know that Georgetown Village (GV) enhances our quality of life, not only for us as individuals but for our entire community. GV is stronger than ever but we depend upon your generosity to provide the important GV services and programs that are increasingly needed, requested, and used by our members. And your donations help subsidize memberships to ensure that these benefits may be offered to those with limited means. GV welcomes and recognizes donations at all levels, including those in honor or memory of a loved one.
We never turn anyone away from membership for financial reasons.
1. Gift of appreciated stock. If you itemize, a gift of appreciated stock has two advantages: 1) you qualify for a tax donation equal to the fair market value of the stock; and 2) you will not have to pay capital gains taxes on that asset, which could be as high as 20% (federal) if you were to sell the stock instead and donate the cash proceeds.
2. Qualified Charitable Distribution of IRA assets. Individuals age 70 ½ and older can direct up to $100,000 per year tax-free from their IRAs to qualified charities. These gifts must go directly from your IRA custodian to the charity, are not taxed as income, and may lower your taxable estate.
The current tax law offers deductions to donors who itemize and contribute cash or appreciated non-cash assets such as stock. In 2022 donors may claim a tax deduction for non-cash asset gifts up to 30% of their adjusted gross income (AGI). The 2022 tax deduction limit for cash contributions is 60% of one’s AGI. Donation amounts in excess of these limits may be carried over for up to five tax years. As of now, the $300 charitable deduction ($600 for joint filers) that was available under the CARES Act to those who did not itemize has not been extended for 2022.
To donate by check:
Please make out your check to Georgetown Village and mail to:
P.O. Box 3563
Washington, DC 20027
To donate a gift of stock, please call the office at 202-999-8988.
To give online, click the Donate Now Button below and insert the amount you wish to give with your credit card information and let us know how you would like to be acknowledged.
Georgetown Village is an IRS designated 501 (c) (3) nonprofit organization. Tax ID #80-0641867.