Those over 70½ must take a Required Minimum Distribution (RMD) from retirement funds (i.e., an IRA, 401k, or 403b). These distributions are considered regular income and are taxed at the taxpayer’s regular rate. Donating all or part of the RMD to a charity satisfies the RMD on the amount donated while reducing taxable income, saving donors both federal and state tax. To make your Qualified Charitable Distribution to the Columbia Art League, contact your financial institution ask your Qualified Charitable Distribution be sent to the Columbia Art League at 207 S. 9th St. Columbia, MO 65201. The check will come to us directly from your financial institution, so you should request that your name be printed in the check memo so that we can attribute the gift to you.

Our federal tax ID, 43-1103761.

Open a designated fund with an entity like the Community Foundation of Central Missouri. This investment fund provides a tax advantage during your lifetime. You can make donations to CAL during your lifetime and after your death at specified intervals. CFCM monitors the use of donations to be sure the your intent is followed. To open a designated fund with CFCM, visit: cfcmfoundation.org/

One way to support CAL programs is gifting us assets that have appreciated in value such as stocks, bonds, mutual funds or other securities. Here’s an example: a supporter donates 200 shares of stock valued at $10,000 to CAL by transferring her shares into our investment account. Assuming she purchased her stock years ago for $2,500, by donating the stock to CAL she not only avoids paying the capital gains tax on the $7,500 of appreciated value, she also reduces her taxable estate by $10,000 and additionally qualifies for a $10,000 income tax deduction for the full value of the appreciated stock!

Please note: to qualify as a donation of capital gains property, the security must have been held for more than one year. While donations of capital gains property are generally valued at fair market value at the time of the donation, the annual tax deduction for gifts of capital gains property to CAL are limited to 30 percent of one’s adjusted gross income.

As a tax exempt organization, CAL is then able to sell our supporter’s donated shares without having to pay capital gains taxes. Our supporter benefits in three ways, and your Columbia Art League benefits with increased funding for our programming to the community.

If you would like to investigate such a strategy to maximize the impact of your gift, please talk to us to explore your opportunities.

Bequests of real estate, personal property, business interests, and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest. Bequests are generally made in one of three ways:

Specify a dollar amount or specific asset as a gift to CAL.

Sample Language:
I give the sum of (insert dollar amount) to COLUMBIA ART LEAGUE, a not-for-profit corporation organized under the laws of the State of Missouri, now having its principal place of business at 207 S. 9th St., Columbia MO 65201. Tax ID 43-1103761

Specify a percentage of your estate as a gift to CAL.

Sample Language:
I give all of the rest, residue and remainder of my estate, both real and personal, and wherever situated, which I may own or may be entitled to at the time of my death, all of which property shall be known as my "Residuary Estate", as follow: ( percent) to COLUMBIA ART LEAGUE, a not-for-profit corporation organized under the laws of the State of Missouri, now having its principal place of business at 207 S. 9th St., Columbia MO 65201. Tax ID 43-1103761

Specify the balance or residue of your estate as a gift to CAL.

Sample Language:
All of the rest, residue and remainder of my property, both real and personal and wheresoever situate, I give, devise and bequeath to the COLUMBIA ART LEAGUE, a not-for-profit corporation organized under the laws of the State of Missouri, now having its principal place of business at 207 S. 9th St., Columbia MO 65201. Tax ID 43-1103761

Giving to your favorite non-profits is a great way to celebrate a successful year and thank them for the enrichment they've provided the community. CAL relies on these donations to support our adult and youth education initiatives, as well as our outreach efforts with other local organizations.

For the month of December, CAL participates in ComoGives. By donating to the Columbia Art League, you ensure that art will remain an integral part of the community for many years to come.