There are other creative ways to make a gift besides writing a check or donating with a credit card. Here are some of the most popular ways that financially savvy donors use to support YGB’s work to find loving, permanent families for youth in foster care.
GIVE A GIFT OF APPRECIATED STOCK
Consider transferring shares of appreciated stock that you have owned more than a year (long-term). You will be eligible for a charitable tax deduction for the full value of the stock rather than the cost basis, and you avoid paying capital gains tax. Your broker or investment advisor will need the following information:
You Gotta Believe’s Brokerage Account Information
Name of account: You Gotta Believe
Name of Broker: Morgan Stanley
DTC Number: 0015
Tax ID: 11-3272603
Important Note: Please contact Stephanie Arcella at email@example.com so we can be on the lookout for your stock gift and acknowledge it properly.
BEQUESTS IN WILLS OR REVOCABLE TRUSTS
Including a bequest in your will or revocable trust is an excellent way to make a transformative gift to You Gotta Believe without worrying about your current financial situation. Since this is completely revocable you have the flexibility to change your estate documents, if your personal situation changes.
Following is suggested bequest language to share with your legal advisor:
I give, devise and bequeath (__%) or (__$) to You Gotta Believe! The Older Child Adoption & Permanency Movement located at 3114 Mermaid Avenue, Brooklyn, NY 11224 to be used for its general purposes (or for a specific program).
Please contact Stephanie Arcella at firstname.lastname@example.org for information about naming and endowment opportunities.
GIFTS OF RETIREMENT
IRA, 401(k) and 403(b) funds are valuable assets to leave to charity because they are heavily taxed when left to heirs. Since You Gotta Believe is a qualified not-for-profit organization, these assets can pass to the organization without any tax obligation. This also is an easy gift to make as you simply add You Gotta Believe as a full or partial beneficiary on your retirement account’s beneficiary form, which is usually found online. Following is important legal information to include on the form:
You Gotta Believe! The Older Child Adoption & Permanency Movement, 3114 Mermaid Avenue, Brooklyn, NY 11224, Federal Tax Identification Number: 11-3272603
Feel free to contact Stephanie Arcella at email@example.com with questions or to discuss naming opportunities.
GIVE RETIREMENT ASSETS
If you are 70 ½ or older you can support our current work with a tax advantaged gift directly from your IRA. This is called a Qualified Charitable Distribution or IRA Charitable Rollover. Your gift must come directly to us from your IRA, must come from a traditional IRA account and cannot exceed $100,000 annually. While your gift will not qualify for a charitable tax deduction, it can be very tax advantageous because any amount you transfer to us does not count as taxable income. Additionally, your gift counts against your Required Minimum Distribution (RMD) if you are age 72 or older.
Your IRA administrator should be able to help you make this gift, but you can contact us for more information at firstname.lastname@example.org.
Another way to support our work with a meaningful donation is to name us as a beneficiary of a life insurance policy that may no longer be needed in its entirety for your family. Not only is this easy, but very flexible since you can change your beneficiary designees at any time should your family situation change. Additionally, your estate would receive an estate tax deduction if it is subject to tax at the time of transfer. Following is information to share with your life insurance administrator:
You Gotta Believe! The Older Child Adoption & Permanency Movement, 3114 Mermaid Avenue, Brooklyn, NY 11224,
Federal Tax Identification Number: 11-3272603
For more information about financially savvy ways to give or to discuss specific programs to support please contact us at email@example.com.