What is Planned Giving?
- A major gift made as part of an overall financial and/or estate plan.
- Gifts include equity, life insurance, real estate, personal property, or cash and can be invested in an endowment fund.
Types of Planned Gifts?
Outright gifts use appreciated assets as a substitute for cash and provide you charitable deductions.
Charitable gift annuities and Charitable Remainder Trusts return income or other financial benefits to you in return for your contribution.
Beneficiary designations for retirement accounts, such as IRA required minimum distributions. Additionally, Bequests are payable upon your passing or at a spouse’s passing and are exempt from estate taxes.
Leave a legacy for at-risk children. If you are 70 1/2 or older, an IRA charitable rollover is a great way to protect at-risk children while satisfying all or part of your required minimum distributions (RMD).
Why consider an IRA charitable rollover?
- Avoid taxes on transfers of up to $100,000 from your IRA to SOS.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
- Your gift will start helping at-risk children today, allowing you to see the difference your donation is making in their lives.
How an IRA charitable rollover gift works
- Contact your IRA plan administrator.
- Seek the advice of your financial or legal advisor
- To include SOS in your plans, please use our legal name and federal tax ID. Please let us know of your gift so we can honor your intentions and goals (many retirement providers assume no responsibility in informing nonprofits)
Legal name: Sower of Seeds International Ministries
Legal address: P.O. Box 209 Keller, TX 76248
Federal tax ID number: 87-0657642
Your IRA funds will be directly transferred and start helping at-risk children today!
*Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
Sample Letters for Charitable Rollover Gifts and Designations
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