Your generous response to the BEBRF annual fundraising appeals is key to the financial health of the Foundation, but there are other ways in which you can help to ensure the long-term continuation of the Foundation’s work.
If you are among those required to take a minimum distribution (RMD) from your IRA, you may be able to transfer some of that withdrawal directly to a charity such as the BEBRF. This can lower the tax normally due to that withdrawal. You do that via a qualified charitable donation (QCD) that is paid directly from your IRA fund to the charity. It is an easy way in which you can benefit both yourself and the BEBRF.
It is a wise move to have a plan for your estate. These plans may help with the tax burden on the estate, and you can use them to direct where you want estate gifts to charities to be distributed.
You can choose to name the BEBRF directly in your will, or perhaps establish an appropriate trust for that purpose.
You are able to donate long-term appreciated securities, like stocks, directly to the BEBRF. If you’ve owned them for longer than one year, it could provide a better tax benefit than giving cash.
The charitable income tax deduction would be equal to the fair market value of the stock, and you would avoid paying for the capital gains tax on the increase in the current value over the original cost.
Brokerage fees could possibly be saved for transferring ownership rather than selling the stock.
Many businesses in America will match, dollar for dollar, what their employees donate to various charities. If you are still working, have extended benefits from a company from which you retired, or have children, friends, and family who are working, please check to see if their company makes matching donations.