IRA “charitable roll-over” provision:

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If you own a traditional IRA (Individual Retirement Accounts), once you reach the age of 73 you must begin to receive taxable income through your IRA. This is a process the IRS refers to as a Required Minimum Distribution (RMD).  To reduce this tax burden, some donors use what is known as a Charitable IRA Rollover (or “Qualified Charitable Distribution”) to direct some or all of this required income to an established charity like New Community Project.

 

Even better, the IRS allows us to begin using Charitable IRA Rollovers before we reach the age of 73.  If you have a traditional IRA and are at least 70½ years of age, you can make tax-free distributions directly from your IRA to NCP.  In fact, you can transfer up to $105,000 annually through this process, and once you turn 73, that entire amount will apply to your RMD for the year.

 

Gifts of Appreciated stock:

Appreciated stocks and mutual funds can be donated to New Community Project directly from a brokerage account to NCP’s investment account and then liquidated by NCP. The value of the shares becomes a charitable tax deduction for you. And since NCP sells the shares instead of you, you avoid any capital gains tax liability. 

 

Other Non-cash gifts: 

Sometimes called “gifts-in-kind,” these are gifts of personal property in a form other than money. They may include gifts of tangible personal property such as vehicles, boats, antiques, artwork, jewelry, etc.

 

Gifts from IRA at death:

By naming New Community Project as a beneficiary of your IRA or other retirement account, you can perpetuate the work of NCP while avoiding the taxation of those retirement assets. Your account retirement plan representative can provide you with a beneficiary designation form to complete and sign, naming NCP as a beneficiary to receive some percentage of your account at your death. Since those funds are sent to a charity, the untaxed retirement assets will escape federal and state income taxes.

 

Gifts by will or revocable trust:

Through a charitable bequest, as specified in your will or living trust, you can provide a generous gift to NCP after your lifetime. You can ensure that the mission of NCP moves forward after your death by including a simple bequest provision (or codicil), in your will or revocable trust. Your bequest gift will not generate federal tax and you can change the designation of your bequest or trust at any time. Applicable bequest language can be as simple as follows: “I/we give, devise and bequeath to the New Community Project, a nonprofit organization [federal tax ID:20-0092504] located at 117 Nature Road, Blue Ridge, VA 24064, the sum of ($X), or (X) percent of the residual assets of my estate.” Your estate gift can be designated for the general operations of NCP or for the NCP endowment fund.

  

Contributions to our Endowment Fund:

This fund is intended to ensure the long-term stability of NCP by providing an on-going, steady source of annual income to NCP while minimizing the impact of inflation and other economic factors. All donations to the endowment fund are placed in an income-producing investment account, the earnings of which are used in a measured way to fund on-going programs in fulfillment of the mission of NCP. All contributions to the fund remain in the endowment in perpetuity; only the income is used. The endowment fund is invested in socially responsible assets that reflect NCP's values and commitment to justice and care for the environment.

 

Giving through life insurance:

Another means of supporting the mission of NCP through your retirement plans is to designate NCP as a beneficiary, or owner, of your life insurance policy. A gift of this nature provides an income tax deduction (if itemizing) and no estate tax is due when the life insurance proceeds are paid to NCP. As noted above, your life insurance gift can be designated for the general operations of NCP or for the NCP endowment fund. 

 

Outright gifts of cash, check, money order, etc.

 

Beginning in 2026 the new tax law (Public Law 119-21) creates a permanent above-the-line deduction for charitable donations up to $1,000 for individuals and $2,000 for married couples filing jointly. The standard deduction has been increased to $15,750 for individuals and $31,500 for joint filers (these totals will be inflation-adjusted in future years). This deduction does not apply to contributions to donor-advised funds.  Also, as the IRS explains, effective for 2025 through 2028, individuals who are age 65 and older (both itemizing and non-itemizing taxpayers), may claim an additional deduction of $6,000 per individual (or $12,000 for a married couple where both spouses qualify). This new deduction is in addition to the standard deduction available for seniors under the previous tax law.  Note that this additional deduction is not available for an individual taxpayer with an adjusted gross income (AGI) over $75,000, or a married couple filing jointly with an AGI of $150,000 or more. This material is provided for informational purposes only and should not be relied on for tax, legal, or accounting advice. If you have questions, please consult your own accounting advisors before providing a gift to NCP.

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Contact NCP director David Radcliff for more information on any of these giving options.