Retirement Accounts

 

HOW IT WORKS.

 

Name the Daughters of the Nile Foundation as a beneficiary of your 401K, IRA or other type of retirement account.

 

BENEFITS:

 

·         This will avoid the potential double taxation of the estate tax and income tax that your heirs would pay.

 

·         You can always change the beneficiary designation if your family’s financial circumstances change.

 

·         During your lifetime you continue to take distributions from your retirement accounts.

 

Unique opportunity in 2011 and how it works:

 

·       Congress has extended the provisions of a law that allows individuals who are age 70½ and older to make direct transfers from an IRA totaling up to $100,000 per year to 501(c)(3) charities, including the Daughters of the Nile Foundation, without having to count the transfers as income for federal income tax purposes.

 

·       The transfer must come directly from an IRA. If you have a 401K or other type of retirement account, you must first rollover the funds into an IRA and then direct the transfer to the  Daughters of the Nile Foundation.

 

·       You do not have to recognize the transfer of income for Federal income tax purposes. However, you are also not entitled to an income tax charitable deduction. Check with your tax preparer on the effect of your particular State income tax laws.

 

·        IRA charitable rollovers count towards your minimum required distributions for the year.

 

Return to Painless Giving

 

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Gifting Incentives

Other ways you can give to the Daughters of the Nile Foundation include naming the Foundation as a beneficiary on your Retirement Accounts or your Annuities; naming the Foundation as a joint tenant, payable on death beneficiary or transferable on death beneficiary on your Certificates of Deposit and Savings Accounts; or establish a Charitable Remainder Trust that benefits the Foundation.

Marketable Securities

Gifts of long-term appreciated securities may include individual stocks, bonds, or shares of mutual funds. Gifts of securities can be made quickly and easily and can enable you to do more with your gift because of the tax benefits.

Wills and Bequests

A bequest to the Daughters of the Nile Foundation Convalescent Endowment Fund will continue supporting Shriners Hospitals for Children® after your death.  Federal estate tax laws encourage charitable bequests by allowing an estate tax deduction for the full value of charitable gifts.  No limit is placed on the amount that can be left to charity and deducted from your estate as a charitable contribution.