You don’t have to make a large gift during your lifetime to leave a lasting legacy.
You can ensure a stable future for Cass Community Health Foundation and help others for generations to come by including us in your estate plans.
Planned gifts can offer many immediate and long-term benefits, like current income tax deductions, reduced estate taxes and the satisfaction of making a significant and enduring contribution. A named gift can even serve as a permanent memorial to a loved one. Planned gifts can be made in any of the following ways.
*BEQUESTS
A will-based gift enables you to give more than you could afford in your lifetime. Bequests specify an amount or percentage to charity without spending restrictions. Bequests are fully deductible, often sparing heirs from gift and estate taxes.
*OTHER GIFTS
- Stock: By making a gift of appreciated stock (held more than one year), you can avoid or delay the capital gains tax. You may deduct the current fair market value of the stock on your tax return no matter what was originally paid for the stock.
- Life Insurance: A new or existing life insurance policy can be assigned to Cass Community Health Foundation with premium payments made as annual gifts. The result is a major gift at an affordable cost.
- Real Estate and Personal Property: Property may be used to fund a planned giving vehicle, or may be given outright to Cass Community Health Foundation.
- Trusts: A Charitable Remainder Trust can provide lifetime income to you.
- Gift Annuities: By making an annuity gift now, you can receive a lifetime income for yourself, a spouse, or anyone else you designate in exchange for a gift of cash, stock, or securities to Cass Community Health Foundation. At the time of your death, the gift remainder will support us.
- IRA Charitable Rollover: The IRA Charitable Rollover is a unique giving strategy that allows donors aged 73 or older to make tax-free charitable contributions directly from their Individual Retirement Accounts (IRAs) to qualified nonprofit organizations, like Cass Community Health Foundation.
- Donor Advised Funds (DAFs): DAFs allow you to make one gift into your fund (just one receipt at tax time) and then grant support to any 501 (c) public charities you wish. Your fund can be invested and grow tax-free. DAFs are also a great way to involve your other family members in charitable giving.
- Qualified Charitable Distribution (QCDs) & Required Minimum Distribution (RMDs): A qualified charitable distribution (QCD) can be a great way to reduce required minimum distributions (RMDs) and optimize the tax benefits of giving. People who hold certain types of investment accounts are required to take minimum distributions each year beginning at age 73, even if they don’t need or want the funds. For retirees who've accumulated significant savings in their tax-deferred accounts, this can have serious tax consequences. That's because the higher the balance in your tax-deferred accounts, the higher your RMDs—and potentially your tax bracket. If charitable giving is part of your financial plan, a qualified charitable distribution (QCD) can further your philanthropic goals and help reduce the tax hit from your RMD. QCDs allow individuals age 70½ and older to make tax-free donations, up to an annual limit (currently $108,000) directly from an IRA or other qualified account to a qualified charity or multiple charities, potentially satisfying all or part of their annual RMDs. As a result, donors may avoid being pushed into higher income tax brackets. A QCD doesn't offer a tax deduction, but the QCD amount isn't included in your taxable income either. In some cases, the tax benefits of a QCD could outweigh the charitable deduction you would have received from donating cash or other assets to an eligible charity. Taking your full RMD and then donating cash, could result in a higher tax bill than if you were to give through a QCD. Qualified Charitable Distributions may offer a prime opportunity to enhance your charitable giving and maximize your tax savings. To determine if making contributions through a Qualified Charitable Distribution is right for you, please consult your financial advisor or contact Cass Community Health Foundation at 816-276-4218 or info@casscommunityhealth.org.
Interested in setting up a planned gift? Fill out the form below.
