Your gifts help older people in our community remain in their own homes with the help they need. Thank you for building an elder-friendly Key Peninsula!
Click here for stories about the services your gifts support.
A great way to help is to make monthly, recurring gifts to The Mustard Seed Project. Giving this way allows you to make a significant contribution to our work in a relatively painless way. For example, a monthly gift of $41.67 adds up to $500 over the course of year!
The Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed in March 2020 contained benefits to people making philanthropic gifts on or before December 31, 2020. These benefits include:
- An expanded charitable giving incentive that allows taxpayers who take the standard deduction to deduct charitable cash contributions up to $300 ($600 per couple) this year.
- Taxpayers who do itemize their deductions are allowed to deduct cash contributions to qualified charities (such as the Mustard Seed Project) up to 100% of adjusted gross income for the 2020 calendar year.
These provisions could benefit you as you make your year-end gifts. Please consult a tax advisor for more information on how these portions of the CARES Act may apply to you. The website irs.gov also has more information about these and other CARES Act provisions.
In addition to making a gift directly by check or credit card, there are other ways to make a gift.
Make a Tax-Free Distribution to The Mustard Seed Project from an IRA
The IRA Charitable Rollover allows you to a make tax-free charitable gift from your IRA to The Mustard Seed Project without claiming any increased income. And, your gift counts towards your minimum distribution requirement.
These rollovers particularly benefit people who do not itemize on their federal income tax return and those who do not need the income from their minimum required distribution (MRD). The basic facts regarding the IRA Charitable Rollover are:
- Donor must be at least 72 years of age (for people born after July 1, 1949).
- Donations of up to $100,000 from an IRA made directly to charitable organizations are not included in taxable income.
- Donations count toward donor’s Minimum Required Distribution
- To be tax-free, the donation must go directly from your account to the Mustard Seed Project without passing through your hands.
Simply ask your IRA administrator to make a charitable distribution from your individual retirement account to the Mustard Seed Project.
(The CARES Act suspended required minimum distributions for 2020. You can still make a qualified charitable distribution from your IRA, and there are still tax-benefits for doing so.)
Gifts of Appreciated Stock
The Mustard Seed Project accepts stock through its account at LPL Financial.
- Todd Rosenbach (253-884-4787) is the Portfolio Administrator for our account. Please have your stockbroker call Mr. Rosenbach when you transfer stock so that LPL Financial is alerted to expect it. You or your broker can also call him for assistance when making the transfer.
- Once the transfer has been initiated, please let Marion Sharp, Fund Development Director for The Mustard Seed Project know either by email (firstname.lastname@example.org) or by phone (253-884-3449).
Questions? Contact Development Director Marion Sharp at 253-884-9814 or by email for more information.
Legal name: The Mustard Seed Project of Key Peninsula
Mailing Address: PO Box 182, Vaughn, WA 98394
Federal tax ID number: 61-1537566