As you are developing your end-of-the-year financial plans, I wanted to remind you that the Lake George Association relies on gifts from members and friends to do our work, and that those gifts are critical to our continued success protecting Lake George’s water quality!
There are many ways you can help us, and many reasons to support your Lake George Association so that we finish the year strong and are well prepared for 2020:
1) You can renew your membership or give a gift membership to your family, friends or neighbors. Memberships make thoughtful and lasting gifts and a beautiful card will be sent to your gift recipient with a welcome package.
2) Your gift enables the Lake George Association to develop, plan and install critical projects that cut back on — or stop — the introduction of polluted stormwater into the Lake, because we realize that polluted stormwater is the biggest human cause of water quality decline.
3) You can reduce your taxable income by making an IRA Charitable Gift using your Required Minimum Distribution – Each IRA owner over age 70½ may make a transfer of up to $100,000 per year to a qualified charity. IRA charitable rollovers are tax-free and not included in adjusted gross income. An IRA charitable rollover may fulfill part or all of your required minimum distribution (RMD).
4) You are creating a new generation of Lake protectors and advocates through the LGA’s education and outreach programs, which brings lessons of environmental protection of the Lake directly into classrooms, boardrooms and meeting rooms throughout the region.
5) You can reduce your capital gains taxes by gifting appreciated stock! With the stock market currently at significant highs, it may be a good time to consider a donation of appreciated stock to the LGA. Many people don’t understand the advantages of giving appreciated stock versus cash. You can take an immediate tax deduction for the full market value of the stock and also avoid the capital-gains tax you might owe by cashing in the securities. Then, using the cash you might have otherwise donated, you can repurchase the same stock at a higher cost basis for capital-gains purposes
6) Your gift helps to keep invasive species out of Lake George through the LGA’s support of the Mandatory Boat Inspection Program and Eurasian watermilfoil removal program.
7) Consider “Bunching” your charitable deductions for this year! If the numbers show that you’re better off taking the standard deduction, consider a “bunching” strategy—that is, timing your gifts to shift more donations into a single tax year. Consider making a double Membership donation and taking next year off! Consolidating your giving in this way, you may be able to donate and still claim a tax break
8) You are protecting the Lake by supporting professionals who focus on all aspects of water quality protection each day – the LGA staff members are your boots-on-the-ground in the daily effort to protect the water quality of Lake George now and in the future.
9) You can make a gift from your Donor Advised Fund (DAF)! A DAF is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth and you can recommend grants to virtually any IRS-qualified public charity – including your LGA.
10) You are supporting the LGA’s EPA-award-winning Floating Classroom program, which brings more than 2,000 people (adults and children) out on the Lake each year to teach them about water quality, and how each of them has a part in ensuring the Lake stays clean and clear.
11) Purchase some of our promotional items – calendars, hats, Lake stickers, reusable bags with our logo and burgees all make terrific gifts!
(Please note: Orders placed after 4:00 p.m. on Friday, December 20, 2019, will be shipped on Friday, January 3, 2020.)
12) You are joining an exceptional group of individuals who recognize the beauty of Lake George and are willing to commit to assure its beauty for the next generation.
We always recommend that before you act, you check with your tax advisor or attorney to see which option works best for your personal circumstances.