Ways to Give
Your gift to LexArt today will nurture up-and-coming artists, bring lively exhibitions to the community, improve accessibility to our facilities, equip our studios, and keep memberships, studio fees, and class tuition affordable.
Choose what's best for you. Gifts in any form, and of any size, have an immediate impact on LexArt and sustain us into the future.
You have options!
By check
Payable to LexArt
mail to
130 Waltham St.
Lexington, MA 02421
Donor Advised Funds (DAFs)
Sign-in to your existing DAF account or create a new one and recommend a grant to the Lexington Arts & Crafts Society, Inc. (Fed. Tax. ID 04-6072895)
Gifts of Stock
Support LexArt in a way that benefits you as well! Gift appreciated stock (or bonds or mutual funds) you have held at least 12 months and avoid capital gains tax. (Be sure to gift the securities directly to LexArt). You may also be eligible for a charitable deduction of the full, fair-market value of the stock or other securities.
How? Simply contact your financial institution and request the shares be transferred directly to LexArt's account at Vanguard. You will need the following information:
LexArt's Broker: Vanguard
DTC #: 0062
Name of Account: Lexington Arts and Craft Brokerage
Acct Number: 75918791
LexArt Fed. Tax. ID 04-6072895
Before initiating a gift, please call Executive Director Matthew Siegal at 781-862-9696 or send an email to donations@LexArt.org so that we know to expect the securities you are donating and can promptly acknowledge your contribution. In accordance with IRS guidelines, the date of your gift will be the date the securities depart your account at your financial institution. For crediting purposes, the value is determined as the average of the high and low listings for the stock on that date.
Gifts from Your Non-Roth or Inherited IRA
If you are 70 ½: As the IRS itself states: “Qualified charitable distributions are great options for making tax-free gifts to charity.” Each year you can exclude up to $105,000 from your gross income as long as the distribution is made directly from your IRA to LexArt (or any qualified charity). This is key. If the funds come to you first, they are not eligible.
If you are 73 (or older) or are required to take distributions from an inherited IRA: The same rule—excluding up tp $100,000 from your gross income—applies to your required minimum distribution (RMD). The distribution must be made directly from your IRA to LexArt (or any qualified charity).
How? Contact your broker, IRA custodian, or financial adviser and tell them you'd like to make a "Qualified Charitable Distribution" from your IRA to LexArt.
Why consider this gift:
Your gift will be put to use today, allowing you to see the difference your donation is making during your lifetime.
You pay no income taxes on the gift. The distribution generates neither taxable income nor a deduction.
Your gift won't count as income (which is unlike regular withdrawals from an IRA). Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.So it may impact your tax bracket, the amount of Social Security subject to tax, or your Medicare premiums. This depends on your financial circumstances.
You don't have to itemize to gain the tax benefits so you may decide to take advantage of the higher standard deduction available under recent tax law changes.
Please consult your financial advisor to understand how donations from your IRA will impact you. They will impact LexArt in the best possible way!
Have Questions?
donations@LexArt.org
781-862-9696
The Lexington Arts & Crafts Society, Inc. is a 501(c)(3) tax-exempt organization. FEIN: 04-6072895. All contributions are tax-deductible to the full extent of federal law.