Tax Benefits with Your IRA Gift
If you are 70 ½ or older, you may have an opportunity to save taxes on you IRA’s and make a wonderful contribution to a nonprofit. To take advantage of this special 2013 opportunity funds must be transferred directly from your IRA and directed to a qualified nonprofit, like Cornerstones.
December 31, 2013 is the deadline to take advantage of this provision extended earlier this year by Congress. Your fund administrator will need some time to make the transfer so do not wait until the last days of the year.
One of Cornerstones’ Board members used IRA’s to fund a special gift this fall. Fran, and his wife, Jane, members of St. John Neumann Church, used IRA’s to established an endowed scholarship that will benefit families with children at Laurel Learning Center who need financial help in paying the fees for attendance. The fund was named to honor their daughter Jennifer to memorialize the importance early childhood development held in her life.
This information is not offered as legal or financial advice. In addition, you are always encouraged to talk with your professional advisor and others who might be impacted by your financial decisions before making a gift.
For information on how to proceed or to notify Cornerstones that you plan to make an IRA gift, you should contact Steven Miller, VP of Resource Development at 571-323-9574 or firstname.lastname@example.org.
What is the goal of the North County Hypothermia Prevention program (NCHP)? NCHP, operated by Cornerstones, is one of four hypothermia prevention sites in Fairfax County that prevents weather-induced illness and loss of life among unsheltered homeless adult men and women in our community. Unsheltered homeless people are those who, whether by choice or by lack of shelter space, live outdoors, in cars, or in other places unsuitable for human habitation. During the 2012-2013 season, NCHP served over 250 guests.
How do NCHP and the Embry Rucker Shelter differ? While NCHP serves adult guests during the coldest months of the year, the Embry Rucker Shelter, also operated by Cornerstones, serves adult men and women as well as families year round. In addition to shelter and meals, shelter residents participate in case management, life skills classes, educational and recreational programs. They benefit from referrals for substance abuse and mental health treatment, and Cornerstones programs such as developmental childcare and transitional housing. These comprehensive services address the root causes of homelessness and allow residents to plan for the future.
Where is NCHP? NCHP is located in the North County Human Services Building, 1850 Cameron Glen Drive in Reston, just ¼ mile from the Embry Rucker Shelter.
When does NCHP begin and end? NCHP begins on December 1, 2013 and ends on March 31, 2014. The program operates every night during this timeframe, regardless of inclement weather and on all holidays.
Who can participate on-site? In order to protect volunteers’ safety, all NCHP volunteers who participate on-site should be at least 18 years old. Maximum group sizes are recommended due to limited space and to ensure that volunteers have an enjoyable experience.
Since my child/teen/youth group cannot participate on-site, how can they help? There are a variety of ways for youth to make a difference throughout Cornerstones programs. They can lead a wish list donation collection or bagged meal preparation for NCHP guests from home, school, or another off-site location. Or they can visit www.cornerstonesva.org (click on the link to “Volunteer”) to view our agency-wide volunteer calendar.
Why should I deliver bagged meals and wish list donations to the Embry Rucker Shelter? NCHP only operates during the evening and early morning hours and has very limited storage facilities. As a result, we ask you to deliver bagged meals and wish list items to the Embry Rucker Shelter, which is always open and where we can most effectively store your donation for immediate distribution.