In recent weeks, the U.S. Congress passed the CARES Act to provide economic assistance and there are some important changes that may make a difference for you this year. In addition to direct financial assistance that many individuals and families have received (or soon will), there are some one-time changes related to tax law:

1. Additional Income Tax Charitable Deduction: You can deduct up to $300 above the standard deduction for individuals in charitable contributions. This is for everyone, even if you have no other itemizations. This applies to gifts made to charities only, not to donor-advised funds.
2. No “RMDs” from your IRA, but QCDS are still a smarter way to give: For individuals with IRA accounts, there are no Required Minimum Distributions (RMDs) this year. However, if you are age 70 ½ or older, giving pre-tax funds out of your IRA this year still will decrease your future tax burden compared to giving cash. If you are interested in this method of giving please contact your IRA custodian today or contact Joe Martellaro at martella@lvc.edu for more information.
3. Temporary Suspension of AGI Limitations– A temporary suspension lifts the Adjusted Gross Income (AGI) limitations on cash gifts made directly to charities for 2020, allowing individuals to deduct up to 100% of their AGI in cash gifts.

Your financial support of LVC students is as important as it ever has been in these uncertain times. In addition to the potential benefits provided by the CARES Act, you might also consider:

Giving Appreciated Stock: Despite the recent volatility in the markets, stocks that you’ve held for many years may be highly appreciated. While you may not sell such stock outright at this time, you could consider donating shares to LVC. You would avoid the capital gain you’d incur if you sold the shares, and LVC could put your gift to work helping students right away. A savvy investor might then consider buying a similar number of shares at the current lower price, restoring your portfolio to its previous position, with a much more advantageous cost basis. Visit here for more information on how to donate shares of stock to LVC.

Important: Consult your broker or tax advisor for advice on whether this is right for your personal situation.

Make a gift (of $5 or more) securely online at www.lvc.edu/give.

Message @Lebanon Valley College Advancement. Please specify your gift designation in the “what’s it for” section and include your email address to receive gift credit and a tax receipt.

Make your check payable to "Lebanon Valley College" and mail to: Advancement Office, Lebanon Valley College, 101 North College Ave., Annville PA 17003.

Make a pledge or credit card gift by calling 1-866-LVC-1866 (1-866-582-1866).

The Dutchmen Dialers are a dedicated group of students who call to connect alumni, parents, and friends with The Valley. Through phone outreach, Dutchmen Dialers take time to learn about your experiences at Lebanon Valley College, ensure that we have your correct information on file so you are receiving campus news and updates, and ask for your support of The Valley Fund.

Recurring gifts—monthly, quarterly, annual or other—can be a convenient way to support LVC. Contact Jo Lynn Brummer, advancement financial coordinator, at 717-867-6222 or brummer@lvc.edu or visit www.lvc.edu/give.

Charitable gifts of securities can be a tax-wise way to support LVC. You may be able to avoid or reduce capital gains tax while realizing a significant charitable contribution based on current market value.

LVC Federal Tax Number:  23-1352354

Broker Contact Information:
Christina Harrell, Senior Registered Client Associate--Officer Schneider Investment Group of Wells Fargo Advisors
919 Russell Drive
Lebanon, PA 17042
Phone:  717-228-5824
Toll-Free:  1-866-344-3882
Fax:  717-270-5312
Email:  christina.harrell@wfadvisors.com
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC.

College Account Number at Wells Fargo Advisors:
5001-5081 Lebanon Valley

DTC Number: 0141

The DTC Automated Stock Transfer System
Provide your broker with the following information:

a.  Depository Trust Company for credit to Wells Fargo Advisors
b.  Lebanon Valley College Account Number at Wells Fargo Advisors
c.  Depository for Settlement--Wells Fargo Advisors
d.  Complete "Special Instructions" with donor name and date of transfer

Please call to inform LVC of the securities being transferred, the number of shares, and from where the securities are being transferred (e.g. Merrill Lynch-Manhattan), so we can alert Wells Fargo prior to the transaction.

For more information, please contact the Advancement Office at 1-866-LVC-1866 (1-866-582-1866) or development@lvc.edu.

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.

Benefits of an IRA charitable rollover

• Avoid taxes on transfers of up to $100,000 from your IRA to Lebanon Valley College
• Satisfy your required minimum distribution (RMD) for the year (if you are subject to RMD)
• Reduce your taxable income, even if you do not itemize deductions
• Make a gift that is not subject to the deduction limits on charitable gifts
• Help further the work and mission of Lebanon Valley College

How an IRA charitable rollover gift works

1. Contact your IRA plan administrator to make a gift from your IRA to us.
2. Your IRA funds will be directly transferred to our organization to help continue our important work.
3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
4. Please contact us if you wish for your gift to be used for a specific purpose.

Many companies will match your gift to LVC. Visit our online directory to see if your or your spouse's employer does so. For questions, contact your human resources office or Jo Lynn Brummer, advancement financial coordinator, at 717-867-6222 or brummer@lvc.edu.

A planned gift can help create a lasting and meaningful impact on students, may help you save on taxes, and in some cases, could increase your income. Learn more here or by contacting Joe Martellaro, director of gift planning, at martella@lvc.edu or 717-867-6323. 

If you have already arranged a planned gift, please share your plans with LVC and join more than 140 other members of the Miles Rigor Society.