PLANNED GIVING
LWVSFC’s New Planned Giving Program
LWVSFC has launched a new Planned Giving initiative to honor the work of our members – past and present – and to ensure that there will be a future for the LWVSFC. Now, in addition to accepting cash donations, we will offer two simple planned giving options – one you can do to qualify for tax benefits while you are alive and another designed to leave a legacy after your death.
SHORTCUTS TO SECTIONS:
Option One: Qualified Charitable Distribution (IRA charitable rollover)
If you have invested in an IRA, annual withdrawals are required after age 72. These are referred to as required minimum distributions (RMDs). There is a penalty for not taking your RMD and, when you take it, it is taxed as income. However, you can arrange for your RMD to be transferred directly to a qualified non-profit and thus avoid paying income tax on it. If you don’t need your RMD for living expenses, this strategy is a “win/win” for the donor and non-profit recipient.
Setting up a Qualified Charitable Deduction from your IRA is easily accomplished by contacting your IRA provider. You will be asked for the following information about the LWVSFC:
Legal name: League of Women Voters of Santa Fe County
Tax ID: 23-7297241
Mailing address: League of Women Voters of Santa Fe County
PO Box 31547
Santa Fe, NM 87594-1547
Option Two: Make a Gift to the LWVSFC in Your Will
If you are interested in securing the LWVSFC’s future with a gift from your estate, a bequest in your will leaves a legacy behind. Language can be included in your will gifting a specific dollar amount, a percentage of your estate, or an amount from the balance or residual of your estate. Also, if you want your legacy to support a specific fund or program, you can specify this in your bequest. Most recently, we received a major donation from long-time member Becky Frenkel’s estate. While we wish Becky was still with us, this gift ensures that her commitment to the LWVSFC will remain with us in spirit long into the future. Keep in mind that you will need to contact your estate-planning attorney if you want to pursue this option. Meanwhile, here is sample language for inclusion in your will:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the League of Women Voters of Santa Fe County, a nonprofit organization, Federal Tax ID #23-7297241. Mailing address: League of Women Voters of Santa Fe County, PO Box 31547, Santa Fe, NM 87594-1547.
Since 1954, the LWVSFC has served as a non-partisan organization working on vital issues of concern to our community. Your support ensures that this work will continue. Feel free to contact us if you have questions about the planned giving options we’ve included in this article, or if you want our help in pursuing one or both of them.
If you have any questions about our Planned Giving program, please contact us.