Donor Advised Funds
Please consider recommending Greater Los Angeles Area Council (Tax ID# 95-1643982) as an organization to support through your donor advised fund (e.g., Fidelity Charitable, Schwab Charitable).
Qualified Charitable Distribution
A qualified charitable distribution (QCD) is a distribution of funds from your (taxable) IRA directly to a qualified charitable organization, such as the Greater Los Angeles Area Council. Also called IRA charitable distributions or IRA charitable rollovers, a QCD allows individuals who are 70 ½ years old or older to donate up to $100,000 total to non-profit organizations instead of taking the minimum distributions. Many individuals who are required to take the minimum distribution, but do not need it for living expenses, choose to make QCDS from their IRAs and support charitable organizations.
Publicly Traded Securities
A gift to Scouting of stocks or bonds may provide you with even greater tax benefits than a cash gift of equal value. This is especially true for securities that have appreciated in value and could generate capital gains tax if sold.
Many donors make gifts of appreciated securities because they can avoid paying capital gains tax on them and take a charitable deduction for the full market value of the securities (if owned for at least one year). But we suggest not donating securities worth less than you paid for them. It may be better to sell the stock, report your loss for tax purposes, then donate the cash proceeds.
Securities held less than one year may be donated, but your charitable tax deduction will be limited to your cost basis. Though there may be advantages to giving short-term property with little or no appreciation (see below), you should discuss this with your own tax adviser.
Gifts of stock you have owned for more than a year are deductible up to 30% of your adjusted gross income (AGI) every year. If held for less than a year, they are deductible up to 50% of your AGI every year. Excess deductions may be carried over for five years after the year of gift.
Closely Held Stock
Often very highly appreciated in value (and expensive to sell), gifts of closely held stock offer the same tax advantages as a gift of common stock. In fact, some donors use these gifts as a way of either transferring ownership interests to others such as family members or regaining control of the shares and establishing a new cost basis for the stock.
Though the advantages of closely held stock gifts are similar to those of publicly traded stock gifts, an appraisal may be required to establish the market value of these shares. Please consult your tax adviser.
A gift of stock options can be just as valuable to a local council as a gift of the stock itself. It is also a painless way to make a gift; you’re giving away something you don’t actually own yet. These gifts will not produce an immediate tax deduction, since the value of the gift cannot be determined until the option is exercised by Scouting. But when the option is exercised, you are entitled to a tax deduction equal to the difference between the option price and the stock value.
Please contact us for wire transfer instructions and to let us know that you are making a transfer and security name so that it can be identified. For more information on how to make a stock gift, please contact us.
Multiply the impact of your personal contribution to Scouting! Ask your employer if they offer a matching gift program that can double (even triple) your donation. Some companies will make matching contributions to organizations their employees support. If you are unsure if your company has a matching gift program, it is worth asking your employer.
Popcorn Sales Fundraiser
Scouting LA thanks all the units and Scout families participating in the annual popcorn fundraiser. Your efforts help maintain our beautiful camps, fund Scout outreach programs, and sends hundreds of Scouts to camp each year who would not be able to afford Scouting otherwise.
The funds you raise can be used to cover registration fees, uniforms, trips, activities, day camps, summer camps, and high adventure experiences within the program. Fewer out-of-pocket expenses for families equals better-equipped kids and more participation. Help all of your families save money by encouraging 100% participation!
Have an old car taking up space in your driveway? Consider donating it to the Greater Los Angeles Area Council, Boy Scouts of America!
Click here to arrange a pick up of your vehicle, at no cost to you. Please be sure to select Greater Los Angeles Area Council when designating your donation.
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