Information about The BRAIN Foundation for DONORS

EIN /Tax ID#: 83-4072118

Address:  5912 Stoneridge Mall Road, Pleasanton, CA 94588

ACH: Jpmorgan Chase Bank – Routing: 322271627 – Account: 397072619

Credit card donations: please follow this link

How to make a direct contribution from DAF to The BRAIN Foundation

To make a direct contribution from a Donor-Advised Fund (DAF) to The BRAIN Foundation, you must request a grant from your DAF sponsoring organization, which will then review and disburse the funds. You can typically do this online through a portal or by contacting your DAF administrator directly, and the method depends on the DAF provider.

Steps to make a direct contribution

1. Contact your DAF sponsor: Find out how your specific DAF sponsor handles grant recommendations. Some, like those through Fidelity Charitable, Schwab Charitable, or BNY Mellon, may use an online portal, while others require direct contact.
2. Log in and submit a grant request: Log in to your DAF account online or contact the sponsor to get the required forms. You will need to provide the name of the nonprofit, the recommended grant amount, and any other necessary details. (Please use our EIN 83-4072118 / full name ‘The BRAIN Foundation’ in searches and requests)
3. Wait for review and disbursement: Your DAF sponsor will review the request to ensure the nonprofit is qualified and the grant adheres to the fund’s policies.
4. Confirm the grant is received: Once the sponsor approves and disburses the funds, you can confirm with The BRAIN Foundation that the grant has been received. 

Important considerations

• DAF-specific procedures: The process can vary significantly depending on your DAF provider. It is crucial to follow your specific fund’s instructions.
• Sponsor’s role: The DAF sponsoring organization is a registered charity that manages the fund and is responsible for approving and distributing grants.

How to make a stock donation to The BRAIN Foundation

To donate stock, first inform The BRAIN Foundation of your intent. Next, work with your broker to complete the necessary paperwork to transfer the shares directly to The BRAIN Foundation’s account. Finally, get a receipt from the charity for tax purposes and file the appropriate tax form, such as Form 8283, when you file your taxes. 

Step 1: Choose a stock

• Select appreciated stock: Donating appreciated stock (stock that has increased in value) can be tax-advantageous, as you can avoid paying capital gains tax on the increase in value. 

Step 2: Contact your broker

• Inform your broker: Tell your broker that you intend to donate stock and ask for their guidance.
• Complete the transfer: Your broker will guide you through the paperwork to transfer the shares directly from your account to the charity’s account. (Please use our EIN 83-4072118 / full name ‘The BRAIN Foundation’ in searches and requests)
• Obtain a stock transfer form: If transferring shares you own to another person or company, you’ll need a stock transfer form, which can be obtained from your broker, company registrar, or a lawyer or accountant who handles share transfers. 

Step 3: Finalize the donation and claim your tax deduction

• Get a receipt: The BRAIN Foundation will provide a receipt for the donation, which is crucial for tax purposes.
• Claim your tax deduction: Use the receipt to claim your tax deduction, based on the fair market value of the stock on the day of the donation.
• File your taxes: You must report the stock donation with Form 8283 and include it with your tax return. 

How to make a direct contribution from IRA to The BRAIN Foundation

To make a direct contribution from your IRA to The BRAIN Foundation, you must perform a Qualified Charitable Distribution (QCD). This involves instructing your IRA custodian to transfer funds directly to the eligible charity. 

Eligibility and Rules

• Age Requirement: You must be 70 ½ or older at the time of the distribution.
• Account Type: Most IRAs are eligible. The funds must come from your IRA, not other retirement plans like a 401(k) or 403(b) (though you may be able to roll these into an IRA first).
• Direct Transfer: The funds must be sent directly from your IRA custodian to The BRAIN Foundation. You cannot withdraw the money yourself and then write a check to the charity (if you do, it is considered a taxable distribution followed by a potential itemized deduction).
• Annual Limit: The maximum annual amount that can qualify as a QCD is $100,000 per person. If you are married and file a joint return, your spouse can also make a separate QCD of up to $100,000 from their own IRA.
• Tax Benefit: A QCD is excluded from your gross income for federal tax purposes. It can also count toward your Required Minimum Distribution (RMD) for the year, if you have one. 

Step-by-Step Instructions

1. Contact Your IRA Custodian: Reach out to the financial institution that holds your IRA. Each institution has its own specific process for initiating a QCD.
2. Complete Necessary Forms: Your custodian will likely require you to complete a specific distribution form. This form will typically ask for:
   1. The name and tax ID of the non-profit (Please search by our EIN: 83-4072118 / full name ‘The BRAIN Foundation’)
   2. The charity’s address.
   3. The specific amount you wish to donate.
   4. Instructions for mailing the check directly to the organization.
3. Submit the Request: Send the completed form to your IRA custodian. They will handle the transfer of funds directly to the charity.
4. Confirm and Keep Records:
   1. Ensure the charity provides you with a written acknowledgment of the contribution for your tax records. The IRS requires this acknowledgment.
   2. Verify with your custodian that the distribution was processed as a direct transfer to the charity.
   3. The amount of the QCD will be reported on IRS Form 1099-R for the tax year the distribution was made. Your tax advisor can help you correctly report this on your tax return. 

For additional guidance on this process, some charities offer resources to simplify the experience, such as the tool available on the American Red Cross website for their donors. Consulting a tax advisor or financial planner is recommended for personalized advice.