You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. A Qualified Charitable Distribution (QCD) is a way you can help continue our work and benefit this year.
How a Qualified Charitable Distribution (QCD) gift works
- Contact your IRA plan administrator to make a gift from your IRA to the Carolyn Jane Foundation.
- Your IRA funds will be directly transferred to the Foundation to help continue our important work.
- You take the portion of your required minimum distribution (RMD) that you need as income and transfer the remainder to a qualified charity, such as the Carolyn Jane Foundation, and only pay income tax on the needed income.
- You will receive written documentation from the qualified charity (different from a tax deduction receipt) to benefit from the tax-free treatment.
Please note that Qualified Charitable Distribution (QCD) gifts do not qualify for a charitable deduction. Benefits of a Qualified Charitable Distribution (QCD)
- Avoid taxes on transfers of up to $100,000 from your IRA to the Carolyn Jane Foundation.
- The distribution counts toward your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions.
- Make a gift that is not subject to the deduction limits on charitable gifts.
- Help further the work and mission of Foundation.
It may make financial sense for you to allocate the residual amount of your retirement savings to the Foundation due to high tax rates. Carolyn Jane Foundation is not required to pay tax on retirement plan asset gifts; therefore, every dollar will be put toward our mission.
How Retirement Plan Asset gifts work
- You name the Carolyn Jane Foundation as the sole or partial beneficiary of your IRA, 401(k), or other qualified plan using your financial institution’s beneficiary designation form.
- You continue to withdrawal from our your account during your lifetime. Any residual left in your account after your passing goes to the Carolyn Jane Foundation tax-free according to your allocation on your beneficiary form.
Benefits of a Retirement Plan Asset gift
- By leaving the gift to the Foundation, you can escape both income and estate tax levied on the residual left in your retirement account. The Carolyn Jane Foundation is not required to pay taxes on the transfer.
- You can continue to take withdrawals throughout your lifetime.
- You can change your beneficiary form any time to update designated percentage of your accounts and/or beneficiaries.
Your will provides a peace of mind knowing that your assets are distributed exactly as you wish and that your loved ones are taken care of. A gift to the Carolyn Jane Foundation can reflect on your personal values and interests. Gifts made to the Carolyn Jane Foundation are excluded from estate tax.
How a Will or Trust gift works
- Include a bequest provision in your will or revocable trust to include a future gift to the Carolyn Jane Foundation.
- Your will or trust directs assets to your heirs and a bequest to the Carolyn Jane Foundation for the purpose(s) you specify.
Benefits of a Will or Trust gift
- You never lose control over your assets during your lifetime.
- You can modify your bequest if your circumstances change.
- There is no upper limit on the estate tax deductions that can be taken for charitable purposes.
- You can rest assured that your bequest will support the Foundation the way you intended.
You can maximize your monetary gain by funding a charitable gift with donated appreciated stock, mutual funds, or bonds. Help make your investments work for you.
How stocks, bonds, and mutual fund gifts work
- You transfer securities to the Carolyn Jane Foundation.
- The Foundation sells your securities and uses proceeds to fund research, surgeries, education, and other project needs.
Benefits of stocks, bonds, and mutual funds gifts
- Enjoy the benefits of paying no capital gains tax on the securities donated to Carolyn Jane Foundation.
- Direct your gift to a specific purpose.
- Receive an immediate tax deduction for the fair market value of the securities on the date of transfer, regardless of what you originally paid for them.
The Carolyn Jane Foundation is extremely grateful for your support in advancing our mission in Changing Lives One Spine at a Time.
When making a wire transfer gift to Carolyn Jane Foundation, the following information should be provided to your financial institution.
BANK: First National Bank of Alaska
BANK ADDRESS: 44501 Sterling Highway, Soldotna, AK. 99669
ABA #: 125200060
ACCOUNT NAME: Carolyn Jane Foundation
ACCOUNT NUMBER: 31316722
We also need to be aware that your gift is on its way. Please complete the form BELOW so that we can send you a receipt for tax purposes.
Thank you for providing new hope for our patients with your generous gift.
The Carolyn Jane Foundation is extremely grateful for your support in advancing our mission in Changing Lives One Spine at a Time.
Please make check payable to:
Carolyn Jane Foundation
P.O.Box 3102
Soldotna, Alaska 99669
We need to be aware that your gift is on its way. Please complete the form BELOW so that we can send you a receipt for tax purposes.
Thank you for providing new hope for our patients with your generous gift.