Smart Ways to Give
Smart gift planning can provide donors with benefits and opportunities beyond the impact of their gift, including:
- Creating a legacy
- Income to the donor for life
- Memorializing a loved one
- Teaching philanthropy to future generations
- Tax benefits beyond an income tax deduction
- Opportunity to enhance the impact of their gift
Creating your Legacy
A Gift in Your Will:
A gift in your Will is an easy way to improve the lives of children in our community! Large estates or small estates, it does not matter! A gift of 10%, 50%, or even 1% can make a distinct and lasting impact on children and your legacy!
Here is some sample language to include in your Will or Trust.
“I hereby give, ____ percent (___%) of my total estate, determined as of the date of my death, to Assistance League of Phoenix, a nonprofit organization located at 9224 N. 5th Street, Phoenix, AZ 85020, Federal Tax ID #86-0193883, for Assistance League of Phoenix general use and purpose.”
Making Assistance League of Phoenix the partial or full beneficiary of your IRA or other retirement assets is a smart way to give! Retirement assets are taxable to heirs, whereas other assets can be included in your estate tax exemption and will not be taxed to heirs. You may also want to consider making Assistance League of Phoenix a beneficiary of a life insurance policy or annuity contract.
Join other donors like you and become a member of our LEGACY SOCIETY (brochure) by including Assistance League of Phoenix in your estate plan. When you establish your legacy, you can live into the possibility you are creating every day of your life
Gifts that Provide You Income
Did you know that you could receive income from your generosity? There are tools like Charitable Gift Annuities and Charitable Remainder Trusts that can provide income for life and have additional tax benefits and savings. Please contact us today to see if one of these tools may be appropriate for you!
Smart Tax-Advantaged Gifts
Giving an asset provides the same tax deduction as cash gifts, but also has other tax savings and benefits. You can give all or part of an asset and save capital gains taxes, income taxes, net investment income taxes, state taxes, and depreciation recapture taxes. We may accept gifts of:
- Stocks, Bonds, and/or Equities
- Required Minimum Distributions from your IRA
- Real Estate
- Business Interest
- Personal Property
- Other Assets
Gifts from your IRA
Giving from your IRA is a very smart way to improve the lives of children. Most retirement assets will be taxed to heirs while other assets qualify for the estate tax exemption and can be passed to heirs tax-advantaged.
Qualified Distribution from Your IRA
After the age of 70.5, you can give gifts directly from your IRA and not have to take your Required Minimum Distribution (RMD) which can provide good tax benefits. (RMDs are required at age 72.) You can give up to $100,000 per year to Assistance League of Phoenix and other charities. You will not have to pay taxes on the RMD and gifting it could also reduce your tax bracket and save on Social Security and Medicare Taxes.
You can also make Assistance League of Phoenix a full or partial beneficiary of your retirement accounts. Because we are a nonprofit organization, we will not have to pay taxes on the retirement assets like other heirs would have to pay.