Charitable Giving
Many of us want to leave a legacy of stewardship for people or organizations we believe in. We hope you feel the same about GRRMF.
There are many planned giving programs available for tax benefit purposes as well as to execute as part of your trust or will. Your financial planner and/or advisor can help you navigate what works best for you to meet your personal and financial goals.
Empowered Philanthropy
Here is some helpful information to get started with your planning. Charitable Giving – A Structured Approach
Bequest
A Bequest is a gift made through a will or a living trust. It’s the most popular planned gift; the easiest to make; and costs nothing during a donor’s lifetime. A Bequest can be included in a new will, or added to an existing will or living trust through a simple amendment called a codicil — often without the expense of hiring a lawyer. A Bequest is usually a set dollar amount or percentage of an estate that goes to a nonprofit after the donor’s death.
Donor Advised Funds
A donor-advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth and you can recommend grants to virtually any IRS-qualified public charity. DAF Factsheet
Qualified Charitable Distributions
A QCD (also referred to as an IRA Rollover) allows donors 70½ or older to make tax-free IRA charitable rollover gifts of up to $100,000 per year directly from their Individual Retirement Accounts to eligible nonprofits. The funds must be transferred directly to the charity; withdrawing them first will result in a tax penalty. QCD Fact Sheet
The 70½ number should not be confused with the old Required Minimum Distribution (RMD), which is now at 72.
Our pups and volunteers are thankful for your consideration of charitable giving to honor our precious dogs and tireless, passionate volunteers at the heart of our rescue.
