WAYS TO GIVE
When you donate to Musical Mentors Collaborative you join us in sharing a love of music through private lessons and mentorship to underserved students. Your financial support helps us provide programs and services nationally and in your local community.
ONLINE
Donating online is the fastest, easiest way to join MMC’s mission and help a student. Accepted payment methods are credit card or ACH donation. ACH donations are processed through Plaid to ensure a simple user experience and security.
Donate Online
CHECK
To make a gift by check, please send your check made out to Musical Mentors Collaborative, along with your name, address, and telephone number to:
Musical Mentors Collaborative, Inc.
1178 Broadway, 3rd Floor #1549
New York, NY 10001
WIRE TRANSFER
To make a wire transfer, instruct your brokerage or bank office to arrange for the transfer of funds electronically to the below listed account.
Bluevine Inc.
40 Warren St, Suite 300
Redwood City, CA 94063
+1 (888) 216-9619
Routing Number: 125109019
RECURRING GIVING
Join our community of loyal supporters with a monthly, quarterly, or bi-yearly gift. Your recurring gift, in the amount you choose, will automatically charge your credit card at the frequency you select. Make a difference, on your terms!
FAMILY FOUNDATIONS & CORPORATE GIVING
MMC welcomes gifts from family foundations and corporations. Please reach out to Kathryn Sansone, Executive Director to discuss opportunities for support.
MATCHING GIFTS
Corporate matching gifts are a type of philanthropy in which companies financially match donations that their employees make to nonprofit organizations. When an employee makes a donation, they’ll request the matching gift from their employer who then makes their own donation. Check with your employer company to see if they have a matching gift program and double your impact!
STOCKS AND OTHER SECURITIES
When you donate appreciated stocks to MMC, you avoid the capital gains tax you would have paid if you sold the asset. If you have owned the securities for longer than twelve months, you also receive an income tax charitable dedication for their full fair-market value. These tax-savings – both in income and capital gains taxes – make gifts a popular alternative to cash.
If you wish to maintain a particular stock in your portfolio, consider giving MMC the stock and using the cash you would have donated to purchase the same securities in the open market. The newly acquired shares will then carry the current market value as their cost basis, an easy way to reduce future capital gains tax liability.
QUALIFIED CHARITABLE DISTRIBUTIONS (QCDS) FROM AN IRA
On December 18, 2015, the Protecting Americans from Tax Hikes Act of 2015 was enacted, which retroactively reinstates and makes permanent several tax incentives including Qualified Charitable Distributions (QCDs) through an IRA Charitable Rollover. A QCD allows an individual aged 72, or 70 ½ if you turned 70 ½ before January 1 st, 2020, and older to make direct transfers up to $100,000 per year to 501(c)(3) charities, without having to count the transfers as income for federal income tax purposes. No charitable dedication is taken, but distributions will qualify for all or part of the IRA owners’ required minimum distributions and is a tax-wise way to support MMC.
Benefits of a Qualified Charitable Distribution:
• Any amount processed as QCD counts toward your Required Minimum Distribution (RMD) requirement.
• Reduces the taxable amount of your IRA distribution by lowering both your adjusted gross income and taxable income – resulting in a lower overall tax liability.
• Receive a tax benefit even if you take the standard deduction.
• Married couples who file jointly can transfer up to $200,000 per year as a QCD Gifts from 401k, 403b, SEP and other plans do not qualify.
*This information is not meant as tax or legal advice. Be sure to check with your financial advisor to determine whether this gift plan is right for you.