Guide: How to Maximize Your Impact on Stony Brook Through End-of-Year Giving

As the year draws to a close, it’s easy to get swept up in the holiday season’s hustle and bustle. However, this is also a meaningful time to pause, reflect on the past year and consider ways to maximize your impact at Stony Brook through end-of-year giving.

At Stony Brook, we set our sights on the future and have an unrelenting drive to create pivotal change — for our students, local communities and the future of the planet. With help from our alumni and friends, we transform students into leaders, ideas into action and good intentions into measurable solutions. Together, we are unstoppable.

As you consider how you might help fuel Stony Brook’s momentum with a year-end gift, the experts in the Office of Gift Planning are sharing some ways to maximize your impact while taking advantage of valuable tax benefits.

1. Donating Appreciated Stock or Other Securities

You may avoid paying capital gains taxes on appreciated assets and potentially deduct the full fair-market value of the stock or securities you donate, up to 30 percent of your adjusted gross income (AGI). Stock must be received by the Stony Brook Foundation by December 31 to qualify for a 2024 deduction.

• How to Give:
  Click here to view electronic stock transfer instructions, or call the Office of Gift Planning at (631) 632-4413 for more details.

2. IRA Charitable Rollovers (Qualified Charitable Distributions)

If you’re age 70½ or older, you can donate up to $105,000 directly from your IRA to Stony Brook. These gifts not only satisfy your required minimum distribution (RMD) but can also reduce your taxable income since they do not qualify as taxable income. The distribution must be completed by December 31, so it’s recommended to initiate your gift a few weeks in advance.

• How to Give: 
  Click here to view a sample letter of instruction for your IRA custodian to initiate the transfer. Contact the Office of Gift Planning for more information at (631) 632-4413.

3. Employer Matching Gifts

Some employers match charitable donations made by their employees, greatly increasing the impact of your gift. Submit your matching gift request by December 31 to ensure it is processed this year.

• How to Give: 
  Check with your company’s HR department or employee giving portal to see if they offer matching gifts.

You can always make your gifts online, by mail or by phone at (631) 632-6300, as well. Every contribution, large or small, fuels our momentum to make bigger impacts not just on Stony Brook but also in New York and the world at large. Together, we can end the year strong and start the new year off unstoppable! 

The above information is for educational purposes and does not constitute tax or legal advice. Please consult with your own tax and legal advisers, as every person’s situation is different.