Planned Giving
Planned gifts, including gifts from your will or estate, are gifts that anyone can make that may benefit you, your family, and PVA-WI today or in the future. You can take advantage of gifts that may help your situation from a tax standpoint today, or gifts that can benefit you and your family upon your passing.
Benefits of Planned Giving
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Ways to Give
Contribute to PVA-WI’s future. Plan for a special gift, such as a bequest in your will, life insurance, or more. There are many creative and flexible planned giving options that can benefit you and our organization:
Charitable Bequests
Charitable bequests are made through a will, a legal document that specifies how an individual’s property is to be distributed after death. It’s easy to include a bequest to PVA-WI in your will. You can make your bequest unrestricted or direct it to a specific purpose. You may also indicate a specific amount or percentage of the balance remaining in your estate.
Create Your Free Will Today
PVA-WI has partnered with LifeLegacy, a secure, online will-maker, which will allow you to fill out your free, legally-valid will forms in less than 20 minutes. Just answer a few questions about yourself, your assets, and your wishes, and the will-making tool provides forms and instructions for how to make your will valid in the state where you live.
Beneficiary Designations
A beneficiary designation gift is an easy way to make a planned gift to support PVA-WI. You can designate us as a beneficiary of a retirement, investment, bank account, or current life insurance policy. The process is very straightforward – most banks and financial institutions will provide you with a form to complete to indicate the beneficiary or beneficiaries and their respective percentages.
This form is specific to each financial institution so it will require you to reach out and request it. Once you receive this form you simply name PVA-WI as a beneficiary using the information below.
- Beneficiary Address: 750 N Lincoln Memorial Dr., Ste. 422, Milwaukee, WI 53202
- Beneficiary Phone Number (414) 328-8910
- Tax ID # of Beneficiary: 39-1393216
Gifts of Life Insurance
A planned gift of life insurance is one of the largest gifts that our organization receives, often 200 to 300 times the size of annual gifts. With this in mind, we have recently partnered with LifeLegacy, which has developed a platform to transform life insurance into social good.
Through LifeLegacy’s platform you can support our nonprofit’s mission in minutes by supplementing your current donations with a legacy life insurance policy to ensure your impact is felt for generations.
GIFT LIFE INSURANCE WITH LIFELEGACY
Gifts, Stocks, and Appreciated Securities
Gifting stock can often be more beneficial to individuals than gifts of cash. You can use appreciated stocks, bonds, and/or mutual fund shares that you have held long-term to make a donation to PVA-WI instead of cash.
These gifts frequently help individuals avoid the tax liability on the appreciated value of the stocks, bonds, or securities. We can help facilitate gifts of this type between you, your broker, and our broker. Contact us for more information.
Charitable Gift Annuities
These types of gifts are also known as “life-income” gifts. They are investment vehicles that provide the donor with a fixed income for life, based on the initial value of the investment, and after the passing of the donor the remaining amount becomes the gift to PVA-WI.
Qualified Charitable Distributions
The Qualified Charitable Distribution (QCD) is an excellent way to show your support for PVA-WI and receive tax benefits in return. As you plan your required minimum distributions (RMD), consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!
It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.
To Qualify
- You must be 70½ or older at the time of gift.
- Distributions must be made directly from a traditional IRA account by your IRA administrator to PVA-WI.
- Gifts must be outright, meaning they go directly to PVA-WI Distributions to donor-advised funds do not qualify.
- Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.
Tax Benefits
- IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040.
- The gift counts toward your required minimum distribution for the year in which you made the gift.
- You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.
Charitable Trust
A charitable trust is another way to make your legacy live on for generations to come. Setting up a charitable trust can also have many tax incentives and financial benefits for those who want to set aside any high-value assets they don’t need to support themselves in retirement. By moving these assets into a charitable trust, you can avoid paying capital gains on real estate or stocks when they’re sold at a higher present value.
There are two primary types of charitable trusts: charitable lead trusts and charitable remainder trusts. These trust types mirror each other but serve different needs.
- Charitable Lead Trust: This trust type first distributes a portion of its proceeds to a charity, for which you’ll receive a charitable donation tax deduction equal to those payments. The remainder of the principal is then distributed to your beneficiaries.
- Charitable Remainder Trust: With this trust type, you choose to receive an income from the distribution of the non-income-producing assets you placed into the trust first. You’ll also receive a charitable donation tax deduction based on the present value of the remainder of the assets earmarked for the charity. At the end of the term or upon your death, your chosen charity receives the rest of the assets.
Contact Us
Please contact us at info@wisconsinpva.org or call (414) 328-8910 for more information on how we can help you begin supporting PVA-WI.
The information provided on this website is not intended as legal, accounting, or other professional advice. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other document.
