Ancient tree stands transcend our lifetimes. Just as mixed age forests ensure young trees may become old one day, your legacy gift safeguards this ecological process. Consider a gift through your retirement plan.
Are you 70 1/2 or older? Would you prefer giving your money to a hardworking non-profit rather then “donating it” to the government?
If the answer is YES to both, consider donating funds to Friends of the Clearwater.
Naming Friends of the Clearwater as the beneficiary of a qualified retirement plan such as a 401(k), 403(b), or Individual Retirement Account (IRA) will accomplish a charitable goal along with tax savings. It can be costly to pass assets on to heirs because of heavy tax consequences. By naming Friends of the Clearwater as a beneficiary of a retirement plan, the donor maintains control over the asset while living, but at the donor’s passing the plan transfers to support the non-profit free of both estate and income taxes.
Making a gift from your retirement plan is easy and cost-free. Contact your plan administrator a request a change of beneficiary form. Return the form to your plan administrator and notify Friends of the Clearwater staff at 208-882-9755.
Qualified Charitable Distribution
Also consider a Qualified Charitable Distribution (QCD) each year. In 2015, Congress passed a permanent provision of law for donors at least 70 1/2 with an IRA allowing them to give up to $100,000.00 to any qualifying non-profit organizations. This maximizes donors’ charitable contributions to non-profits such as Friends of the Clearwater while avoiding the tax consequences of their Required Minimum Distribution from their IRA. Contributions need to be made by December 31 of that tax year to qualify.
If you have questions, or update your retirement plan to include Friends of the Clearwater, please contact firstname.lastname@example.org or call the office at 208-882-9755. We’d love to hear your story of giving to Friends of the Clearwater!