You’re making a gift for the future of Pathway
Planned gifts, including gifts from your will or estate, are gifts that anyone can make that may benefit you, your family, and Pathway today or in the future. You can take advantage of gifts that may help your situation from a tax standpoint today, or gifts that can benefit you and your family upon your passing.
Here are some examples of how you, through thoughtful planning, can help children who attend The Pathway School both today and in the future.
Bequests – Gifts from Your Will or Estate
Charitable bequests are made through a will, a legal document that specifies how an individual’s property is to be distributed after death. Some people also use a revocable, or “living” trust instead of a will. A bequest made through either a will or a revocable trust works the same way and can provide tax benefits to the donor and their heirs as well as providing needed resources for The Pathway School. Contact your tax advisor for more information on how a bequest may benefit you and your family. Click the link below for sample language that you and your attorney can use for your will or revocable trust.
Gifts of Life Insurance
Individuals can also make a gift of life insurance by making The Pathway School the irrevocable owner and beneficiary of a life insurance policy that has cash value and is no longer needed. Individual donors, in many cases, may claim a charitable deduction when gifting a life insurance policy with cash value. You should contact your tax advisor or a professional appraiser to determine the deduction amount.
Gifts of Stock and Appreciated Securities
Gifting stock can often be more beneficial to individuals than gifts of cash. You can use appreciated stocks, bonds, and/or mutual fund shares that you have held long-term to make a donation to The Pathway School instead of cash. These gifts frequently help individuals avoid the tax liability on the appreciated value of the stocks, bonds, or securities. We can help facilitate gifts of this type between you, your broker, and our broker. Contact us for more information.
Donor Advised Funds
Many donors today are using Donor Advised Funds to optimize their tax situation while still supporting their favorite charities. These funds are set up with large financial institutions or community foundations who act as the charitable sponsor. Donors who direct gifts from these types of funds have a few options for the disbursement of any remaining funds upon their passing. One option is to designate the remaining balance of the fund to support The Pathway School.
Charitable Gift Annuities
These types of gifts are also known as “life-income” gifts. They are investment vehicles that provide the donor with a fixed income for life, based on the initial value of the investment, and after the passing of the donor the remaining amount becomes the gift to The Pathway School.
Charitable IRA Rollovers
A Charitable IRA Rollover makes it easier to use IRA assets, during lifetime, to make charitable gifts to The Pathway School. The Charitable IRA Rollover allows individuals age 70½ and older to make direct transfers of up to $100,000 per year (and up to $200,000 per year for married couples) from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. So, these are “tax-wise” gifts for donors who must take an annual required minimum distribution from their IRAs. Since no tax is incurred on the withdrawal, gifts do not qualify for an income tax charitable deduction, but are eligible to be counted toward an individual’s minimum required distribution.
Provisions of the Charitable IRA Rollover:
- Distributions must be made directly to a qualified charity by the plan administrator of an IRA. Retirement assets in 401(k), 403(b), SEP, or SIMPLE plans do not qualify but may be rolled into a new or existing IRA and transferred to the charity.
- Distributions may only be made to 501(c)(3) tax exempt organizations and cannot be made to donor advised funds, private foundations, or supporting organizations.
- Distributions may not be used to fund life-income gifts such as charitable gift annuities, charitable remainder trusts, or pooled income funds.
The information provided on this website is not intended as legal, accounting, or other professional advice. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other document.
DEVELOPMENT OFFICE CONTACT INFORMATION
Director of Development and Communications, Jory Barrad
Phone: ext. 258
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