Who can make a planned gift?
Helpful Information |
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Donors age 70 1/2 or older can make a gift directly to TPE from their IRA in 2020 without paying federal income tax on the withdrawal. |
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If you have named loved ones, TPE, or other charities as beneficiaries of your retirement account, be sure to let them know. Many financial institutions do not inform beneficiaries of gifts after the account owner has passed away. |
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Sample bequest language for a will, trust or beneficiary designation: I give [the sum, percentage, or description of property] to The Prairie Enthusiasts, Inc., a Wisconsin nonprofit corporation, with a current address of 110 S. Main St., Viroqua, WI 54665. |
Many consider planned giving a luxury reserved for a rich few. They’re wrong.
Planned giving is the process of making a significant charitable gift during a donor's life or at death that is part of his or her financial or estate plan. Regardless of how much or how little money you have, a will, trust or beneficiary designation ensures that whatever assets you have will go to the beneficiaries you designate.
Having your finances clarified often means being able to donate more in future years, including the near future.
Flexible and simple
Leaving a legacy is one of the most powerful and lasting gestures to ensure your memory and your passion for prairies and other natural areas remains alive forever.
Planned and estate gifts provide extraordinarily flexible and simple ways to meet your philanthropic and financial goals, no matter what your state in life, financial circumstances or charitable vision!
If you wish to name TPE in your estate plan, we should be named as:
The Prairie Enthusiasts,Inc., a Wisconsin nonprofit corporation, with a current address of 110 S. Main St., Viroqua, WI 54665.
Many options to make a planned gift
There are numerous vehicles for doing planned giving. You should discuss your options with your attorney or financial planner.
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Life insurance |
How It Works At death, the benefits pass to TPE free of federal estate tax. |
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Annuity options |
There are a number of annuity and trust options that permit you to continue to receive income during your life with the remainder going to TPE. |
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Wills and trusts |
Simply name The Prairie Enthusiasts, Inc., as the recipient of cash, stock or other readily marketable assets. |
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Retirement accounts |
Name The Prairie Enthusiasts, Inc., as the beneficiary of your IRA, 401(k) or other retirement account. Because TPE is a tax-exempt organization, it can receive the proceeds without having to pay the income tax that may be due from an individual beneficiary. |
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Real estate |
If real estate or stock that has appreciated in value is transferred to TPE, it can be sold by TPE with no capital gains tax due. |
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Federal estate tax |
If your estate exceeds a certain amount ($11,580,000 for a single person or $23,160,000 for a married couple in 2020), the gift to TPE may save on estate taxes. |
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Business interests | If you are considering transferring a business interest to TPE we suggest you discuss it with us before making such a provision. There could be issues on management or disposition that we should discuss with you. |
Leave a lasting legacy ...
A planned gift today could make a world of difference tomorrow.
This information is not intended as legal or tax advice but as general information on planned giving. For legal or tax advice, please consult your own professional advisor.
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